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Old 07-30-2014, 02:17 PM
 
41 posts, read 29,601 times
Reputation: 64

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I appreciate all of the responses that my post has generated. I am planning on retiring at about 65 -- though it could be a little earlier or a little later. I keep reminding myself of exactly what rdflk said -- that if I moved to NYC after retirement it would not need to be forever. If I did not like it or if, as I aged or my health declined, I felt the need to relocate again, I could do so, especially as a tenant as opposed to a landowner. I am not wedded to the idea of Manhattan only and am very open to other boroughs to avoid the higher costs of Manhattan. Convenient transportation and safety are, of course, additional considerations. As BrightRabbit has pointed out, I probably would not be looking at rush hour as my prime times of travel as that is one of the advantages of no longer working. Estate taxes do not concern me much, as my estate would be small. My main sources of income would be pension and social security as opposed to investment-based. BrightRabbit's retirement sounds wonderful to me, though I realize that her children are also nearby, which would not be the case in my situation and, of course, she is already familiar with harsh winters, which I am not. LOL
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Old 07-30-2014, 08:48 PM
 
Location: Brooklyn, NY (Crown Heights/Weeksville)
993 posts, read 1,028,719 times
Reputation: 1098
Yes, I wrote my post with the hope you'd pick out whatever was similar and different from your own situation. I wish you every success in making a good choice for your retirement location!
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Old 08-01-2014, 06:14 PM
 
Location: Eastern Washington
14,245 posts, read 44,937,745 times
Reputation: 12841
Quote:
Originally Posted by dmenesq View Post
I am still several years away from retirement, but lately I have been playing with the idea of relocating to NYC from FL to retire. My thoughts are as follows: I am a single woman, native of FL and like the idea of mass transit that could get me all over the city and have access to transportation to other areas, such as Boston, etc. -- all without the need of driving a car. I also like the idea of no longer owning a SFH so when something breaks I can call the super/landlord instead of worrying about it myself. I don't have any close relatives in NYC though I do have a couple of cousins who live there and a couple of others who live in Connecticut. I Have an adult daughter who currently lives in FL but who knows what she will be doing in a few years. I realize that the winters are cold in NYC, but I have been thinking that since I would be retired I would have the option of staying inside on the coldest days.

I am not wealthy but I would have a reasonable pension in addition to SS to cover living expenses, etc. I would be willing to downsize to even a studio apartment since I do not need much space. In addition, I am thinking that the increased housing expense might be offset by the money I would be saving on car insurance, car payments, car insurance and even homeowners insurance.

I have not been to NYC for about 30 years so I realize that I would need to visit and give it a try before doing anything permanent and I also realize that I could live there for a couple of years and relocate again if I decided to do so.

I am wondering if anyone here as any thoughts that they would like to share with me concerning this idea. I searched but did not find any posts on this specific topic. Am I crazy for even considering this idea?
Well, NYC has high cost of living, high taxes...you see more people moving to FL from NY on retirement than the opposite.

Still, NYC (apparently, have never lived there) offers a unique lifestyle, and if you adapt to it (small apartment, no car, etc.) you could in principle live there without spending a fortune.

A few extended visits, including some in winter, would probably let you figure this out.
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Old 08-01-2014, 07:15 PM
 
20,778 posts, read 13,771,877 times
Reputation: 14442
Quote:
Originally Posted by dmenesq View Post
I appreciate all of the responses that my post has generated. I am planning on retiring at about 65 -- though it could be a little earlier or a little later. I keep reminding myself of exactly what rdflk said -- that if I moved to NYC after retirement it would not need to be forever. If I did not like it or if, as I aged or my health declined, I felt the need to relocate again, I could do so, especially as a tenant as opposed to a landowner. I am not wedded to the idea of Manhattan only and am very open to other boroughs to avoid the higher costs of Manhattan. Convenient transportation and safety are, of course, additional considerations. As BrightRabbit has pointed out, I probably would not be looking at rush hour as my prime times of travel as that is one of the advantages of no longer working. Estate taxes do not concern me much, as my estate would be small. My main sources of income would be pension and social security as opposed to investment-based. BrightRabbit's retirement sounds wonderful to me, though I realize that her children are also nearby, which would not be the case in my situation and, of course, she is already familiar with harsh winters, which I am not. LOL

As a New Yorker born and bred will say these days along with "hipsters" and young persons many older persons are choosing to move to and or remain in New York City post retirement. You can "Google" various articles on this trend from the New York Times and other sources.

Your primary concern will be housing, cost of living and of course taxes. Some middle-aged and older persons or couples have moved to NYC (mostly Manhattan and parts of Brooklyn and Queens) being very well off, and or are able to work (as consultants, have their own businesses, or are still employed) thus are able to manage the high cost of living here.

Others are either working, middle or any other class but wealthy and make do by taking advantage of what the City has to offer. One woman in her 80's and in good health interviewed by one NYT piece takes advantage of the City being so compact she does not need to own car and the things she likes to do involve very little money. There are plenty of 'senior citizen" discounts around for everything from Broadway shows to opera if you know where and how to look.

Will stress again housing will be one of your largest costs. If you are planning to look outside of Manhattan say towards Coney Island and other places where the large Russian community resides, then your dollars may go further.
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Old 08-14-2014, 01:52 PM
 
739 posts, read 1,611,096 times
Reputation: 811
Nothing has to be forever. Put your stuff in storage and take what you need to a rental apartment you can afford. Give yourself a year. If, after that, you want to stay then you can make appropriate changes accordingly. Bring roach spray.
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Old 08-29-2014, 12:59 PM
Status: "Support the Mining Law of 1872" (set 12 days ago)
 
Location: Cody, WY
9,583 posts, read 10,933,686 times
Reputation: 19225
Here's something good about NYC: grocery shopping will be adventurous fun.

Moving back to Manhattan...How in the world to deal w/ the grocery situation?
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Old 08-29-2014, 02:41 PM
 
Location: Center City
6,860 posts, read 7,806,872 times
Reputation: 9487
Quote:
Originally Posted by Happy in Wyoming View Post
Here's something good about NYC: grocery shopping will be adventurous fun.

Moving back to Manhattan...How in the world to deal w/ the grocery situation?
I would agree that anyone who romanticizes life in a big city needs to understand the practicalities. We live in a middle of a big city (Philly) and though it's clearly not the same as Manhattan, I would expect some similarities. We actually enjoy dropping by the market every few days for fresh food. There are farmer's markets all over town every day (Farmers’ Markets In The Greater Philadelphia Area « CBS Philly). While we occasionally visit the fairly large market held every Saturday in Rittenhouse Square, our most frequent routine is to grab our recyclable bags each Saturday morning and stop by Reading Terminal Market, decide where we're going to eat and afterwards pick up any meat, seafood and fresh vegetables we want for the next few days. Sometimes we sneak in a treat from one of the on-site bakeries. (Reading Terminal Market is amazing: Home - Reading Terminal Market.) After finishing at the market, we drop by the local Superfresh a few blocks from our house to pick up staples. We are able to walk to all these venues and more. It's no doubt healthier for us to get outdoors and stretch our legs rather than placing our butts in a car seat as we had to do when when grocery shopping back in our old sprawling sunbelt city.

We like to mix dining out with dining in. Being retired, we can do our shopping whenever we want if the inkling for something different hits us - even Tuesday afternoons, which we often do! "Honey, what do you want for dinner tonight? I''ll run out and get it." It's as easy as grabbing a few recyclable bags and heading over to the Whole Foods a few blocks away: that's all there is to having the ingredients for a fresh dinner on the spur of the minute! We have considered what happens if we reach the point where we are less physically able to handle this. Like some of our older neighbors we know, we will use the service of grocery delivery offered by the local markets.

When I consider the variety of food offerings here Philly, I can only imagine the offerings of Manhattan. We ate at one such Manhattan venue last weekend when were up there to see a few shows and visit some museums. We made a pilgrimage to one of Manhattan's more popular indoor markets on our visit because it's been announced they are opening an outpost here in Philly: Gourmet Italian Food, Gift Baskets, Pastas, Sauces | Eataly. I may be wrong, but I don't imagine there are a lot of such venues in rural areas such as Wyoming. If I am wrong, it won't be the first time.

There is a trade-off for everything. If a retiree places a high priority on his or her ability to drive to the local national grocery chain, load up the trunk and then unload their haul in their garage, then NYC is of course not the place for them. If, however, they value the ability to buy local food from an international array of vendors, then NYC might be a better fit, as long as they are willing to huff it home.
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Old 08-29-2014, 02:48 PM
 
71,651 posts, read 71,801,099 times
Reputation: 49241
gave my notice today i will be retiring fully august 1st and retiring right here in bay terrace queens. have been working just part time the last two months.

nyc has everything we want in retirement including our kids and grandkids.
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Old 08-29-2014, 02:56 PM
 
Location: Center City
6,860 posts, read 7,806,872 times
Reputation: 9487
Quote:
Originally Posted by mathjak107 View Post
gave my notice today i will be retiring fully august 1st and retiring right here in bay terrace queens. have been working just part time the last two months.

nyc has everything we want in retirement including our kids and grandkids.
A hearty congratulations! Based on the tone of some in this thread, I can only think of the shudders you've induced - retiree in NYC???? OMG

From you urban cousin down a few miles on 95 - hope you have as much fun as we're having.
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Old 08-29-2014, 02:59 PM
 
71,651 posts, read 71,801,099 times
Reputation: 49241
thanks.. we tried more rural by buying a 2nd home in the poconos in pa but that made us realize just how much we really had it all right here in nyc. while we live in queens we are close enough to both the city ,long island and CT to never run out of things to do or places to photograph..
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