Why is it important for a city to be seen as one of the best cities to retire?
Quite simply there are manyeconomic, social and environmental advantagesin attracting retirees. Retirement is a lucrative industry.
While cities can't do much about their location they will obviously have to make the most of their situation and any natural natural features or attractions that are available. But there are many other things that they can do to increase their lure.
So What Makes a Retirement Destination Attractive?
One way to look at this is to divide migrating retirees into 3 groups. Each of these groups has different reasons to make the move and are looking for different facilities and features when deciding on their best cities to retire.
The first group are amenity migrants. This group is looking looking for specific amenities such as lakes, beaches, mountains, golf courses, equestrian facilities, or temperate climates. This group could also be seen as an environment lifestyle group.
The second group are return migrants. They have left "home" and gone away to earn enough money to retire on. They are now looking to move back to their home states and cities to enjoy friends, family and the nostalgia.
The final group are known as dependency migrants. They are looking to move because they have increasing care needs.
What are retirees looking for in the best cities to retire
For many people in all of these groups, a low cost-of-living is becoming a more and more important factor as financial pressures grow. Extended life spans, reducing benefits and inadequate retirement funding all adding to the burden.
In addition amenity and return migrants may also be looking for a combination of the following:
Benefits of Retirees to the Best Cities to Retire
In return for the facilities and features they demand the retirees offer a number of positive and valuable contributions as they:
In addition there are also a number of cost benefits of attracting retirees as they do not:
So if cities want to be considered as one of the best cities to retire they are going to have to plan and decide what they need to do make this possible. The race is on!