June 2012
UpFront:South to Rise Again
Southern college towns are ideal retirement spots
An analysis of trends and preferences indicates that tens of
millions of Baby Boomers should look to Southern college towns for the ideal
retirement destination. These towns provide the best combination of
climate, cost of living, health care and other lifestyle benefits, according to
a report from the Washington Economics Group (WEG). The report, titled “Best
Choice for Retiring Boomers: Head South—An Analysis of Selected U.S. Cities,”
builds on a recent survey conducted by Mason-Dixon Polling & Research.
The survey also found that in comparing 20 prospective ideal
Boomer retirement communities, Tallahassee, Florida, ranked first in the
country. Furthermore, one-third of Baby Boomers said they would consider
moving to another state to find the desirable conditions they most value. Chief
among those are a midsize town with a pleasant, warm climate and a mild hint of
winter, a low cost of living and favorable tax rate, and a top-quality health
care system.
According to the survey, the top 20 towns for
retirement—some not in the South—are: Tallahassee, Florida; Memphis, Tennessee;
Athens, Georgia; Tuscaloosa, Alabama; Atlanta; Oxford, Mississippi; Charleston,
South Carolina; Louisville, Kentucky; Richmond, Virginia; Pittsburgh;
Raleigh-Durham, North Carolina; Indianapolis; Lexington, Kentucky; Toledo,
Ohio; Cleveland; Boston; Milwaukee; Washington, D.C.; Philadelphia; and New
York. The 20 cities evaluated by WEG have an already high number of retirees or
are classified as typically popular destinations for them; have populations
consistent with or close to the size favored in the Mason-Dixon poll; or
feature more than one factor favored by those surveyed.
Tara Cantore
editors@plansponsor.com