Traditionally, when Americans move after they retire, they choose to go to a state with a warm climate. Arizona and Florida are popular options. They have both developed the infrastructure and industries for elderly Americans to live comfortably and to get the services they need.
However, more and more retired people, in Cincinnati and elsewhere, are choosing to move to other states. One trend is for people to move closer to their adult children, as The New York Times reports in "The New Retirement: Near the Kids."
One reason for the trend is that people are more likely to move further away from their hometowns when they grow up, than ever before. Young people today often find they need to move to far away cities for job opportunities in their chosen fields.
As much as parents would like to be closer to their children and grandchildren, they often cannot move closer since they have jobs of their own. That all changes when the parents retire.
A positive result of this trend is that it helps to combat the growing incidence of elderly Americans who are lonely and isolated.
There are many options for moving when you are retired. One thing to keep in mind if you do want to move closer to your children, is that living in large cities is usually more expensive than living elsewhere. Plan accordingly, before you move.
Remember: “An ounce of prevention is worth a pound of cure.” When making your estate plans or when probating an estate or administering a trust, do not go it alone. Be sure to engage a Cincinnati estate planning attorney.
For more information about estate planning, probate or trust administration in Cincinnati (and throughout the rest of Southwest Ohio) and to review free resources regarding estate planning, probate or trust administration, visit my website. If you have questions regarding this article or a particular legal matter, feel free to contact me at 513-399-PLAN (7526).
Reference: New York Times (May 4, 2018) "The New Retirement: Near the Kids."