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Old 04-11-2018, 10:18 AM
 
1,695 posts, read 609,966 times
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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?

Can we reactivate this thread, please? I don't think wishing to retire to NYC is unusual but entirely normal, particularly for a boomer generation member. I am 58, and still hope to be able to retire to NYC when I fully retire (you can read all my other posts about it in other threads). I'd be interested in hearing what the OP ultimately decided, and to have a discussion with other people who want to retire to NYC from other places in the US or the world.
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Old 04-11-2018, 11:06 AM
 
1,040 posts, read 484,570 times
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Quote:
Originally Posted by elnrgby View Post
Can we reactivate this thread, please? I don't think wishing to retire to NYC is unusual but entirely normal, particularly for a boomer generation member. I am 58, and still hope to be able to retire to NYC when I fully retire (you can read all my other posts about it in other threads). I'd be interested in hearing what the OP ultimately decided, and to have a discussion with other people who want to retire to NYC from other places in the US or the world.
I'll chime in.

Im 51 and retired last year. I still don't like to use that word because who knows what the future holds, but for all intents and purposes I consider myself retired.

For me, what NYC does is offer constant activities to be involved in. I do various volunteer work weekly through NY Cares in addition to some animal rights projects around the city. I think what makes it work for me financially is that I'm not and have never been a big spender so that's what makes it doable. I take full advantage of mass transit and that costs me $121 per month. I eat ~70% of my meals at home and I enjoy that. Much cheaper and healthier no doubt!

So I think the combination of activities and not crazy spending make it doable for me. Feel free to ask me any other questions you might have.
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Old 04-11-2018, 11:23 AM
 
Location: NYC
2,901 posts, read 1,583,756 times
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To state the obvious, money is the deciding factor. Most out-of-towners conflate NYC with Manhattan but that is pretty much out of reach to all but the wealthy (unless you decide to live above 125 Street). Brooklyn became the "new" Manhattan about 20 years ago due to housing expenses & especially young people have moved to so many neighborhoods there that now prices in large parts of Brooklyn equal, or surpass, Manhattan costs, it's very gentrified.

The very tip of Manhattan - Inwood, some parts of Queens & Brooklyn & areas just outside the city limits in Westchester or across the Hudson in NJ could be doable, just take note of public transit routes. Consider that city living here probably means no auto expenses & lots of healthy walking to stores & for pleasure, etc; less furniture/appliance purchases; less home repair costs; SS income is exempt from state/local taxes. I've been surprised that my local grocery shopping here in Queens costs less than out in the Long Island suburbs.

There are pros & cons just like any other place.
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Old 04-11-2018, 11:28 AM
 
4,477 posts, read 4,739,984 times
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Quote:
Originally Posted by Hefe View Post
To state the obvious, money is the deciding factor. Most out-of-towners conflate NYC with Manhattan but that is pretty much out of reach to all but the wealthy (unless you decide to live above 125 Street). Brooklyn became the "new" Manhattan about 20 years ago due to housing expenses & especially young people have moved to so many neighborhoods there that now prices in large parts of Brooklyn equal, or surpass, Manhattan costs, it's very gentrified.

The very tip of Manhattan - Inwood, some parts of Queens & Brooklyn & areas just outside the city limits in Westchester or across the Hudson in NJ could be doable, just take note of public transit routes. Consider that city living here probably means no auto expenses & lots of healthy walking to stores & for pleasure, etc; less furniture/appliance purchases; less home repair costs; SS income is exempt from state/local taxes. I've been surprised that my local grocery shopping here in Queens costs less than out in the Long Island suburbs.

There are pros & cons just like any other place.


Love that you mention Inwood. I grew up there, surrounded by parks and had a great time, wonderful memories.
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Old 04-11-2018, 11:30 AM
 
1,040 posts, read 484,570 times
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Originally Posted by brava4 View Post
Love that you mention Inwood. I grew up there, surrounded by parks and had a great time, wonderful memories.

Fort Tryon is so so nice...take the A train up there often in warmer weather
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Old 04-11-2018, 01:19 PM
 
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Originally Posted by FREE866 View Post
Fort Tryon is so so nice...take the A train up there often in warmer weather


Yes. I practically lived at The Cloisters when I was a teenager.
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Old 04-11-2018, 02:38 PM
 
1,695 posts, read 609,966 times
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In my case, I just like to be in the center of everything, with so many people and so much activity going on, even if I do not participate too much in the activity - I guess just being in a place like NYC completely protects me from any thoughts about boredom or death, which is a good thing for a retiree. The only real amenity that I need to actively use is a world-class public library and bookstores, and it is nice to have a lot of inexpensive authentic ethnic restaurants (one can have a lunch in a different country every day - a cheap way to constantly travel the world).

Some people are accusing me of repeating the same thing in multiple threads, so I'll try not to repeat it again, but I am semi-retired, and have bought a small condo (a studio) 10 years ago, in a "decent" condo complex in the Bronx, where I hope to spend time (when not traveling the world for real) after I fully retire. I have been renting out this condo while having to live elsewhere, and hoping that the condo complex will be fully safe crime-wise by the time I actually move in there. There is a local service organization catering to the retirees (social/medical services, senior activities etc) who live in this large condo complex. If you are interested in being my neighbor in retirement, please send me a private message, or heck, we can even discuss it publicly on this thread (although the thread will probably be immediately infested by obnoxious people complaining that I am "hyping" my condo complex).
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Old 04-11-2018, 03:05 PM
 
5,425 posts, read 3,445,259 times
Reputation: 13698
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?
I saw an article a couple years ago about the joys of moving to and living in NYC in retirement. It also discussed various individuals who have done so, and that it was a trend! I'll look for the article and post it if I find it.
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Old 04-11-2018, 03:22 PM
 
5,425 posts, read 3,445,259 times
Reputation: 13698
Bright Lights, Big City, Gray Hair: Retiring to Manhattan
https://www.nytimes.com/2017/06/09/b...-citizens.html

For a Long Life, Retire to Manhattan
https://www.nytimes.com/2016/09/04/o...manhattan.html

Retiring in the New York City Area: Big Apple Pros and Cons
https://www.after55.com/blog/new-yor...irement-guide/

‘It’s Limitless’: More People Moving To New York City For Retirement
Real Estate Trend: More People Moving To New York City For Retirement « CBS New York
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Old 04-11-2018, 05:59 PM
 
41 posts, read 29,553 times
Reputation: 64
I am the OP and I have not yet made a decision. I ended up postponing retirement so I probably will not retire for about another five years when I will be in my late 60s so hopefully my health holds out and I will be able to have a wide variety of options available. I remain interested in the idea of retiring to NYC and am glad to see this topic revisited. I will read the articles that matisse12 listed.
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