Where are all the Baby Boomers moving?

I was just reading about where the “Baby Boomers” are in America in Forbes magazine and they gave a list of the top 10 “Hot Spots” for the aging.

Without seeing the list, I was thinking Florida – all day long. I assumed it would not only hold the top spot on the list, but I thought there could be as many as five cities in Florida on the list.

I was wrong. Las Vegas held the No. 1 spot! Phoenix was second, while Florida did have three cities in the top 10 – Tampa-St. Petersburg (No. 3), Orlando (No. 4) and Jacksonville (No. 9).

North Carolina had two cities in the top 10 – Raleigh (No. 6) and Charlotte (No. 10).

These people reaching retirement age were expected to leave their suburban houses and seek high-end destinations in bigger cities. According to Forbes, that’s not what the 36 million “Baby Boomers” born between 1945 and 1955 are doing.

An analysis of the new Census shows a 10 percent decline among core city dwellers – that’s a loss of 1.3 million people over the last 10 years. Forbes looked at population numbers from the Census for “boomers” between 45 and 54 in 2000 and compared them with those age 55 to 64 in 2010.

Forbes ranked the 51 largest metro areas in the U.S. Urban areas like San Jose, San Francisco, Los Angeles and Chicago all scored near the bottom of the list – posting double-digit losses of “boomers.” New York lost 12 percent of “boomers” in their mid-50s to mid-60s.

So why is this happening? I’m thinking the economy had a lot to do with it. Just think about the number of people that expected to retire long before now. There’s a ton of people working five and 10 years longer than they expected to because of poor retirement planning. Some of those people also had their children move back in because they don’t have jobs or they couldn’t make it on their own. Yikes!

Now, some people just like to work and don’t want to retire even though they are set financially. People are living longer and they probably would get bored just sitting around all day.

What the study definitely shows is that “baby boomers” are taking an anti-Big City approach to where they plan to retire.

That’s where the Forbes list comes into play. People are opting to locate in affordable, low-density, Sunny, metropolitan areas. Or, as Forbes points out, the “boomers” aren’t moving at all. They like where they are and feel comfortable.

I saw that article and just thought I’d share Forbes’ findings with you. While I was a little surprised at some of the cities in the top 10, I was not surprised to hear that people are not moving at the drop of a hat to find some swank resort.

Hot Spots for the Aging

1. Las Vegas, Nev.

2. Phoenix, Ariz.

3. Tampa-St. Petersburg, Fla.

4. Orlando, Fla.

5. Riveside-San Bernardino, Calif.

6. Raleigh, N.C.

7. Austin, Texas

8. San Antonio, Texas

9. Jacksonville, Fla.

10. Charlotte, N.C.

 

One thought on “Where are all the Baby Boomers moving?

  1. David O' Donnell

    Las Vegas- no surprise! They love to gamble! Check out these questions I found on Forbes that baby boomers are asking themselves: ”
    normous uncertainties lie ahead. Can we preserve the assets we’ve accumulated – whether or not we consider ourselves wealthy? Will the children we have worked so hard to raise achieve financial self-sufficiency? Will we have enough money to support our current lifestyle, assuming we live to an advanced age? Have we set aside sufficient funds for the education of children and grandchildren?”
    – Pretty crazy – hua? All concerns we are addressing with our products in this wealth transfer!

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