Are you considering packing up and moving to a new state in pursuit of the perfect retirement? Millions of Americans retire every single year, with a national average of 12 to 16 percent choosing to leave their home state. While many may assume retirees flock to states like Florida or Arizona, this is not always the case. In this article, we’ll take a closer look at the 10 states with the highest percentage of retirees who’ve decided to make a move.
Massachusetts: 12.7% of Retirees Leaving
Massachusetts may seem like an unlikely state for retirees to leave, but the cost of living, especially in cities like Boston, can be tough on retirees’ bank accounts. Of the retirees who’ve decided to leave the Bay State, many head to Florida and South Carolina, with Pennsylvania almost equal to South Carolina as a destination.
Nevada: 14.2% of Retirees Leaving
While one might expect retirees to flock to Nevada for its gambling opportunities, the state still sees 14.2 percent of retirees choosing to leave. The most common destinations for Nevada retirees are Arizona and Texas.
Iowa: 14.7% of Retirees Leaving
Despite a relatively low cost of living compared to other states, Iowa sees a surprising 14.7 percent of retirees choosing to leave. For many, the state may have been a great place to raise a family and build a career, but as they approach retirement age, they may seek more excitement and adventure. Retirees from Iowa tend to head to Florida and North Carolina.
New Jersey: 15.2% of Retirees Leaving
The high cost of living in New Jersey may be the primary driver behind the 15.2 percent of retirees who’ve decided to leave the state. Popular destinations for New Jersey retirees include Florida, North Carolina, and Pennsylvania.
Connecticut: 15.4% of Retirees Leaving
Connecticut retirees face a similar challenge as their neighbors in New Jersey, with a high cost of living driving many to leave the state. The most popular destinations for Connecticut retirees are Florida, Pennsylvania, and North Carolina.
Ohio: 16.1% of Retirees Leaving
Ohio retirees often cite a desire for a change of scenery as their reason for leaving the state. Florida, Pennsylvania, and North Carolina are the most popular destinations for Ohio retirees.
Illinois: 16.2% of Retirees Leaving
Like their neighbors in Ohio, Illinois retirees may be seeking a change of scenery, with Florida and Arizona the most popular destinations.
New York: 16.5% of Retirees Leaving
New York retirees also face a high cost of living, which may be the primary factor behind the 16.5 percent who choose to leave the state. The most popular destinations for New York retirees are Florida, North Carolina, and Pennsylvania.
Rhode Island: 16.6% of Retirees Leaving
Rhode Island retirees also struggle with a high cost of living, with 16.6 percent choosing to leave the state. Florida, South Carolina, and Pennsylvania are the most popular destinations for Rhode Island retirees.
California: 17.3% of Retirees Leaving
California may be known for its mild climate, but the high cost of living is a significant factor for the 17.3 percent of retirees who choose to leave the state. The most popular destinations for California retirees are Arizona, Nevada, and Oregon.
Conclusion
Retirement is a time when many individuals choose to uproot and move to a new state in pursuit of the perfect retirement experience. Whether it be a change of scenery, a lower cost of living, or proximity to loved ones, there are countless reasons why retirees choose to leave their home state. The 10 states with the highest percentage of retirees who move to another state include Massachusetts, Nevada, Iowa, New Jersey, and others.
These states have retirees moving to destinations such as Florida, South Carolina, Arizona, and Texas among others. Each state has its own unique reasons for being popular among retirees, ranging from the warm weather to lower costs of living.
Regardless of the reason, it is evident that the choice to move during retirement is a big decision that requires careful consideration. The factors that influence retirees’ decisions to move vary greatly, and the best state for one individual may not be the best for another. It is important to thoroughly research the options and weigh the pros and cons before making the move.
Ultimately, the decision to move during retirement is a personal one and should be made based on an individual’s specific needs and preferences. Whether you’re looking for warmer weather, a lower cost of living, or a change of pace, there is sure to be a state that can meet your needs and provide you with the perfect retirement experience.