Jan 4, 2016 -
States in the Mountain West region of the United States are beginning to see an influx of retirees according to the United Van Lines 39th Annual National Movers Study. The region, which includes states like Arizona, Colorado, Idaho, New Mexico, Montana, Utah, Nevada, Wyoming, has reported that on average 1 in 4 inbound moves are for retirement.
“Areas like Arizona and Nevada are beginning to cater to the retirement community,” said Michael Stoll, economist, professor and chair of the Department of Public Policy at the University of California, Los Angeles. “Housing communities are popping up throughout the state, attracting Baby Boomers from the Northeast and Midwest.”
The aforementioned Baby Boomer generation, born between 1945 and 1964, are retiring at a record pace. As full-time incomes subside to social security and limited pensions, these men and women are looking for an affordable lifestyle.
As one of the most active generations in history, Baby Boomers retire, but don’t necessarily quit working. The availability of part-time jobs in the Mountain West helps attract them to the area – nearly 50 percent of respondents claimed a new job brought them out west.
For those working part-time and looking for a tax break, Nevada and Wyoming are without broad-based state income taxes, while Arizona, Idaho, Montana and Utah have breaks for retirees, such as limited taxation of social security and pension benefits, according to Forbes.
From a social perspective, areas like Henderson, Nev. (outside of Las Vegas) and Sun City, Ariz. (outside of Phoenix) are attracting the 55 and older crowd with adult communities that cater to the retirement dream. Websites like Top Retirements highlight the large number of golf courses, swimming pools and other amenities, while warm weather provides a break from an otherwise snowy Northeast and Midwest winter.
As Baby Boomers continue to retire, the Mountain West will continue to welcome them in with open arms.