Alumni return to college towns in retirement
By Gordon Powers, Sympatico / MSN Finance
We've all heard stories of people retiring to spots they thought were just right, only to get there and realize they miss their family or friends or the activities that had enriched their lives while working.
Although advertisers and real estate developers might suggest otherwise, it appears that most retirees actually choose to stay put instead of heading off to the beach.
According to a recent AARP report, close to 90% of retirees aged 60 and over say they'd prefer to stay in the same house or county. In fact, currently less than 10% of the people over age 60 actually do move each year. Of those who do, about half remain in the same area, often close to where they went to school.
In fact, the hottest trend for senior settlements right now is university towns. Retirement communities associated with big U.S. universities such as Cornell and Duke are particularly in vogue. While private developers have been building such projects for several years, universities and colleges themselves are playing an increasing role, seeking new sources of revenue and a way to cement ties with alumni.
Until recently, the Village by the Arboretum at the University of Guelph was the only such offering in Canada. Soon, however, the University of British Columbia will be home to a 180-unit seniors’ residence right on campus.
Although not cheap, these settings offer lots of attractive amenities, including free or reduced-price classes, cultural activities, as well as part-time jobs, a youthful vibe, accessible teaching hospitals, low crime rates, and good restaurants.
Not sure if this is for you just yet? Explore AARP’s Location Scout quiz to see what might be out there. Answer questions about what you want in climate, housing, property taxes, culture, job growth and then see where your search takes you. Although currently limited to the U.S., the "Scout" will find several cities that might match your needs.
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