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According to the U.S. Census Bureau American Community Survey
The mass migration of retirees leaving N.Y. happens for a reason.
The retirees are forced look to more to more affordable locations
and the sentiment in N.Y. continues to grow.
This is reflected in the spending power that retirees take with them when leaving.
From 2011-2015 for people ages 60 and above:
The estimated Annual Income Transfers ( that is retiree money leaving N.Y.) was
$1,936,344,349.
Wow that is almost 2 billion dollars!
Now some may argue, well what about the retirees moving into N.Y. ?
That is $873,993,767 l( pale in comparison ) leaving a total net transfer loss of
$ 1,062,350,583..........Wow..........
That is still a billion dollars of spending power N.Y. lost.
New York calls itself a welcoming state and the Statue of Liberty raises its hand
in saying "Hello" to everyone entering the port but if you look closely you can see the
imaginary boot kicking you out once it's done with you.
In 2016 according to Data USA the median age of all people in NY was 36
and they will get older up to about 45-46 years old because they are married to their jobs.
This is also reflected in the census stats.
The current older N.Y. population decreases with age.
65-69 years old 773,211
70-74 years old 587,391
75-79 years old 474,807
Total: 1,835,409
The N.Y. population for 2018 stands at 19,862,512
that's a ratio of about 10.5 to 1.
Let's round that off to 11 to 1 or 11%.
According to the Census Bureau the percentage of the Population over 65
in the United States on average is almost 16%.
16% Average and 11% N.Y. hmmmmmmmmmmm.?
Age Discrimination? Not at this time.......... I think it's more monetary in nature......
Seems to me that N.Y. only cares about build,build,build, and the young supply that.
********* once you no longer can go,go,go.......
They don't care about the elderly spending power.
They can suck it of their young.
Always did and always unfortunately will......
What else do you expect the state to do? You really think the state has any interest as to why people stay or leave? Think again. Even with $1 Billion not spend here, no one cares.
That's my point !
The state should care.
The state can offer much much better tax incentives
than there is already for the elderly to stay.
With 1 billion more in spending power it creates
more demand which in turn creates more jobs
and I'm sure all those young folks out there that
are looking for jobs would be very happy to land one.
I can't speak for the whole state, but as far as NYC goes (and this IS the NYC forum), we're better off with them leaving, and being replaced by people who work.
We don't need them taking up, increasingly scarce housing. In NYC the older a person is, the more likely they have a regulated apartment, usually one that's bigger than they need. If they leave, this can be recycled to someone who the city needs more.
As they get older, the more likely they are to need Medicaid. It NY would be better off if that gets sucked out of some other city/state budget.
Older folks leave NYC for better quality of life, to live closer to grandkids,return to country of origin, or lower cost of living. Make that pension and annuity last is the goal.
With aching joints, these folks want sun and good weather. They ain't messing with the snow . Also to a state like Florida and their tax set up,it makes sense. If they were homeowners, they cash in and buy a home down south,in cash.
How good can it get? If I had money coming in in the form of a pension,SS, and savings, screw NYC and those big effin rats, and living the rat race.
Places like NC are becoming more and more popular.55+ communities are set up down south, so the seniors can avoid loud wild kiddies, and punks blasting their music.
Some seniors do not realize there is a program that will freeze your rent when you reach a certain age. It is an incentive to stay
I can't speak for the whole state, but as far as NYC goes (and this IS the NYC forum), we're better off with them leaving, and being replaced by people who work.
We don't need them taking up, increasingly scarce housing. In NYC the older a person is, the more likely they have a regulated apartment, usually one that's bigger than they need. If they leave, this can be recycled to someone who the city needs more.
As they get older, the more likely they are to need Medicaid. It NY would be better off if that gets sucked out of some other city/state budget.
Isn't retirement why they invented Florida?
I guess you have never visited any of NYC's elite housing projects, if you want people who don't work. And guess what BBMW, those people will NEVER leave. Oh and of course lets not forget our Hasidic friends, especially the ones upstate in the Hudson Valley, one of their precious villages has 93% of its residents on Medicaid.
As a retiree , I am glad you want me to leave, I did, and so did my spending power in NY. You see , any of my 401k or my pension which I have will not be spent in NY, so your tax dollars are paying my pension and you are getting nothing back because I spend it in my new state. Thank you for holding the bag for me , I gotta hit the beach today
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