When planning for retirement , you often make an important decision about where to live after you stop working full-time. Should you stay close to your children and grandchildren? Should you escape harsh winters? Where will your retirement savings last the longest?
The Bureau of Labor Statistics says 10,000 baby boomers are retiring each month. So where are they moving from — and where are they going?
Here are a few cities that are seeing former workers moving on for their retired lives and some places that are welcoming them instead.
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1. New York City
Luciano Mortula-LGM/Adobe New York City is a business and cultural center, but it’s also an area with a high cost of living. That could be a turn-off for retirees on a fixed income who want to avoid wasting money , which is why so many retirees may be moving out.
According to the financial website SmartAsset, this city saw more retirees leave in 2021 than any other city in the country, with almost 20,000 retirees packing up and moving out.