Your Grandparents are Retiring in Virginia?

Elyse
Your Grandparents are Retiring in Virginia?

Florida and Arizona are the two states that immediately pop to mind when people think of retirement destinations. 

But things change. 

It turns out that Virginia has become a significant retirement destination, edging Florida out of the number one spot. That’s according to “2020 Study: Where Do Americans Move When they Retire?” by Hire a Helper.

If you work with retirees, the study gives you a snapshot of moving trends that may be helpful to your 2021 business planning. 

Virginia is an especially appealing spot for retiring women making out of state moves. Of those, 17% landed in Virginia.  Single retirees—15% —also picked the state as their retirement destination.

According to Hire a Helper, some possible reasons for the influx of retirees may be that Virginia is a tax-friendly state, provides good access to healthcare, and features a lower cost of living than Florida.

On the other hand, men who switched states overwhelmingly chose Florida as their retirement destination. It also continued to be popular with retired married couples (16%) who were making out-of-state moves.

If you work in Wyoming, Pennsylvania, and Idaho, keep your eye out for new retirees. These three states are the most popular retirement destinations after Virginia and Florida. 

On the other hand, Utah, Maryland, California, and Texas are losing the most retirees.

 

See the complete study at https://bit.ly/3p1h8FN.