Pennsylvania retirees are running away! Here’s where they’re going to live
Pennsylvania, one of the oldest states in the U.S. with a median age of 40.8 years, is witnessing a significant migration of retirees to other states. In 2019, the state lost 15,629 residents aged 65 and over, primarily due to high taxes, cold weather, and lack of amenities. This trend is shaping the state’s economy, social services, and political landscape in various ways.
Popular Destinations for Pennsylvania’s Retirees
- Florida: Known for its warm climate and a high percentage of residents aged 65 and over (20.9%), Florida is a prime destination. It offers lower taxes and abundant recreational opportunities for seniors.
- North Carolina and South Carolina: These states are gaining popularity for their proximity to mountains and coasts, offering a blend of warm climate and lower taxes.
- Arizona: Attracts retirees with its dry and sunny weather, beneficial for those with arthritis or respiratory issues.
- Texas: Offers a large, diverse landscape with vibrant cultures and cities catering to various lifestyles and preferences.
- Tennessee: Known for its music, entertainment scene, low cost of living, and absence of income tax.
Implications of Retiree Migration The departure of retirees from Pennsylvania has mixed effects. On one hand, it eases pressure on the state’s budget regarding funding for pensions, healthcare, and social services for seniors. It also opens up job opportunities for younger workers. On the other hand, this migration reduces tax revenue, consumer spending, and political influence.
It also leads to a shortage of skilled and experienced workers, particularly in sectors like education, healthcare, and public administration. Moreover, this shift can affect the state’s cultural and historical identity.
Challenges and Attractions in Pennsylvania Despite the outflow, Pennsylvania does have attractions for retirees, such as a low cost of living, no taxes on retirement income, and excellent healthcare facilities including top hospitals like UPMC Shadyside and Philadelphia.
The state also offers a rich outdoor experience with activities for active seniors, like golfing and trekking. However, drawbacks like cold winters, an inheritance tax, and the lack of a vibrant urban buzz may deter some retirees.
Pennsylvania’s cold climate, especially during winters, and its inheritance tax policy (where heirs can be taxed up to 15% of the inheritance’s value) are notable deterrents. These aspects contrast sharply with the desires of those seeking warmer retirement destinations or looking to preserve their wealth for heirs.
In conclusion, while Pennsylvania faces challenges in retaining its retirees, the state also possesses several qualities that can appeal to potential retirees. Balancing these factors will be crucial as Pennsylvania adapts to the changing demographics and preferences of its population