Will Baby Boomers Flock to Florida?
Each and every day from now until 2023, roughly 10,000 Americans will blow out the candles on their 60th birthday cake. That means four million people a year face impending decisions on whether to stay where they have been earning their livelihood, or to indulge their dreams by moving to their idea of retirement heaven.
At stake are hundreds of billions of dollars to be newly funneled into communities around the nation and world as the “mailbox economy” — checks arriving in the mail — rapidly swelled by boomers growing old. Right now, however, the money seems to be on Florida at the home of choice for many baby boomers. Click here for the whole story.
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Category: Baby Boomers, Lifestyle, Retirement
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The writer misses a VERY critical point – the majority of Baby Boomers will never move out of their present county, forget moving out of their state to Florida.
National Association of Home Builders research showed that 57% of Boomer want to stay within 50 miles of their family. Per data from HUD and Census, only 5% of 55+ Americans move per year. This rate of mobility has stayed roughly the same since 1998.
More than 50% of 55+ movers stay in the same county. In 2005, another 21% changed counties but stayed in the same state.
Florida may be the home of choice for many Boomers – it’s most likely those already living in Florida.