Not long ago, retirement for many meant moving to Florida or Arizona. One worked hard, saved hard, and moved somewhere warm. However, as a new generation plans their retirement, not all retirees are flying south or completely fleeing from family. Money may not be the only factor in deciding to retire closer to home.
What is motivating seniors or those thinking about retirement to stay closer to home?
Chris Farrell, economics editor of Marketplace Monday, will join The Daily Circuit Tuesday to discuss stay-tirement. He did a piece on it for Marketplace:
Here's the thing: Jobs come largely from friends, colleagues and acquaintances. Workers spend years building their networks. And those networks are the key to a part-time consulting gig, a job at a local business or a place at a nonprofit organization.
So, come 65, a retirement move from the Twin Cities to Orlando, or Boston for Corpus Cristi, might sound alluring. But it will make that priceless community network suddenly worthless. And without the backstop to retirement that a network represents, the prospect of a long life after 65 looks a lot less comfortable.
Where are you going to retire? Comment on the blog.