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Saturday, December 29, 2018

Retirees in Arizona

Aloha Everyone,

Based on data released by SmartAsset, the top four states where retirees are moving in 2018 remained unchanged from 2017. Florida leads the list followed by Arizona, North Carolina and South Carolina. While Florida occupies a strong first place, Arizona came in second with about 28,600 retirees immigrating to the state.

While many retirees no longer work or only find part time work, they play an important part in the local economy. The Social Security Administration estimates that in 2018 it will pay out approximately $1 trillion in Social Security benefits, 72% of which will go to retirees. With that sort of money potentially infusing into the local economy, no wonder so many 55+ communities are being built along the sunbelt. Advertising example: “Live the good life. Walking, biking, golfing, hiking trails. Clubhouse with pools. Jacuzzi, hot tubs, gym & wellness center, yoga studio, theatre, library, restaurants. Quick move-in homes. Try before you buy!” Yes they sound tempting.

If one can have a choice of where to reside, many retirees seek for year-round warm weather, affordability and favorable tax structures.

Aloha -- Cathi