Amenity moves versus necessity moves in retirement

    People move for different reasons, in life and in retirement. Those who are younger, more adventurous, more financially secure, and have fewer community ties often make migration decisions based on the social and environmental amenities of a location. They are “pulled” by warmer temperatures, scenic terrain, recreational opportunities, lower costs of living, greater economic opportunities, and other community characteristics. Thanks to previous geographic relocations (for college, work, etc.) and multiple vacation experiences the identity of these individuals are more likely to be tied to a sense of self versus a sense of place. As Longino, Perzynski, and Stoller (2002) reported, geographically mobile people have acquired the social skills and cultural capital to facilitate integration into a new community.

However, due to poor stock market performance and weak job markets over the past few years some individuals may have to reconsider amenity retirement migration. The first cohort of Baby Boomer retirees may even have to work longer than previous cohorts just to obtain similar levels of pension wealth. Haas and Serow (2002) note in their article “The baby boom, amenity retirement migration and retirement communities” that this group is more likely covered by defined contribution plans (such as 401k’s) than the employer pension plans that earlier retirees enjoyed.  As such, many in this group may be “pushed” into leaving their homes and relocating by high property taxes, failing health, or changing family circumstances.

A necessity move is very different than an amenity move. Stress levels are higher; there often is a greater sense of urgency and loss. With that often comes feelings of disappointment - “this isn’t what we thought retirement would be like;” “this isn’t where we wanted to live following retirement” - and greater possibility for depression. For those in this situation, finding a life purpose is even more critical to their health and well-being (see March 30th post for more on this).  A retirement coach or counselor may need to be consulted in order to find the silver lining that may be hidden in the complexities of such a move.

This entry was posted on 1. April 2010 at 16:25 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.