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Eek, you're a Fl native? I would seriously consider snowbirding first. And maybe consider living a bit further out from the city. Tuxedo, Newbugrh, all a short train ride and lower COL.
Unless you've spent some time in the city fairly recently I would revisit it as much as possible.
And also consider that while you may be vibrant and mobile for awhile, what happens when you need help?
Lots of things to think about.......follow your heart but research and plan.
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 I would highly suggest you go there on an extended visit before making any arrangements.
A lot has changed about NYC in 30 years. Whatever memories you had..toss them.
I was born in NYC, grew up there, lived and worked there for a number of years before I moved south.
I have family there (Manhattan, LI and Westchester county) so I have gone back over the years.
The changes that NYC has undergone over the years is dramatic in nature.
Well I would highly suggest you go there on an extended visit before making any arrangements.
A lot has changed about NYC in 30 years. Whatever memories you had..toss them.
I was born in NYC, grew up there, lived and worked there for a number of years before I moved south.
I have family there (Manhattan, LI and Westchester county) so I have gone back over the years.
The changes that NYC has undergone over the years is dramatic in nature.
So, true. My old neighborhood is very different. I think at times I romantize returning as does my mother. You can't survive on those thoughts.
I agree with a lot of posters here. NYC has changed a lot. Housing is expensive and the apartments are small for the amount you'll pay in rent. It can be a kinda creepy place if you don't live in a decent neighborhood.
Visit first and see if you like it before making any permanent decisions, or getting locked into a year long rental contract. Winters can be gloomy, snowy, cold and very damp but usually the streets are plowed and salted right away so it's fairly easy to get out around by mass transit.
Summers are hot and sticky but you're probably used to that living in Fla. and you'll never have to worry about running into any gators here.
Good luck, and do what your heart desires. This is your time now. Enjoy.
I think that this is something that my parents would like to do. For them, I think they would enjoy everything that NYC has to offer. It could be NYC or any large walkable city. They both enjoy walking and are still healthy. However, I am not sure if this is something that they could do if they weren't as mobile.
I think that this is something that my parents would like to do. For them, I think they would enjoy everything that NYC has to offer. It could be NYC or any large walkable city. They both enjoy walking and are still healthy. However, I am not sure if this is something that they could do if they weren't as mobile.
I actually think the less mobile you are the more important being in a big city is. NYC is walkable as is a good majority of the large cities. The more attractive a city from an economic stand point the more expensive housing is going to be. On the other hand that expense does allow for lower expenses in things like transportation. If you live in a city you have a better chance for decent public transportation. Also there are services in the cities for elderly and disabled with chartered vans and buses. So many more services. It is something worth considering.
Born and raised in NYC, still worked there till a few years ago (transferred Upstate), go down once or twice a month because my one daughter is in college in NYC. I could go back in a NY minute. Anytime we get that 'perfect' NYC day my wife starts to think about how it would be to retire down there (as opposed to downsize where we are or move to Maine).
There are so many pluses as far as things to do, theater, parks, museums, zoos, music, sports . . . obviously some things cost more than others. Great public transportation as long as you avoid rush hour(s) and the best medical care anywhere. And if you're a foodie or coffee shop lover, or love bakeries and bagels, it doesn't get any better.
Bottom line is it isn't cheap. A lot depends on whether you are looking to rent or buy. A 1 BR apt in my old building in Queens goes for $1600 a month rent today. In Manhattan a very small studio or 1BR in a good area goes for over $2K. I've done the math a few times and if I no longer had to pay for a couple of cars, property taxes, heating, insurance, lawn and home care stuff . . . I figured I'd save enough to cover at least 4-5 months of rent on a 2BR apt on the Upper West Side, just a few blocks from Central Park.
However, unless you can come up with a minimum of $100,000 per year in income, you are not going to feel comfortable.
I assume we are talking Manhattan, yes?
just the things in the building....rent, door man, super, maintenance, engineer, etc. are going to set you back a bit.
Taxes...everywhere. City tax too.
All the things which you can enjoy cost money...museums, theatre, sporting events... a hundred here, a couple hundred there, it is easy to blow a thousand bucks pretty quickly.
Clothing.....plus boots, coat, gloves, scarves, etc.
Shoes get ruined in the salt/calcium /snow melter pretty quickly.
Car rental, train tickets, tips for everyone if you wish to go anywhere.
It all adds up, but you can be clever and find bargains if you hunt around.
In exchange you get a vibe, world class restaurants, museums, teams, fashion, architecture, and some of the greatest touristy things in the world.
Go for it! Visit for a few weeks in a long stay hotel deal, and see if it I was what you really remember.
I think $100K minimum is a bit excessive but your point is well taken.
There are creative ways to get around a lot of things, lots of free events & senior discounts & cheap places to eat (including neighborhood senior centers with dirt cheap meals & company). You will come out ahead on transportation once you ditch the car. I figure I need $1200/mo for my most basic necessities, if I can gross around $60k/yr I can add on a lot of niceties & the occasional luxury.
But yes, the city is different now than it was in 1984, I think most would say for the better, it is the safest city in America they say. Definitely come up for a visit & stay in a neighborhood if possible (not midtown).
Last edited by Hefe; 06-17-2014 at 11:27 AM..
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