Thursday, November 17, 2005

Boomers latest to flee Massachusetts

The Daily News reports:
Young people have been fleeing Massachusetts in droves — some to nearby New Hampshire, others to more distant locales — in order to find affordable housing for their families. Now a new MassINC study finds their parents and grandparents are following suit in search of a comfortable retirement.

A new report looks at the retirement of the "baby boom" generation — those born in the years immediately after World War II — the first of whom will turn 60 this coming January. Titled "A Generation in Transition," the study found that two-thirds of Bay State boomers plan to work after retirement, many out of financial necessity; and that the cost of taking care of grown children and elderly parents, as well as their own needs past the age of 60, weighs heavily on their minds.

But perhaps the most disturbing aspect of the study was that at least a third of the boomers — representing 650,000 people or 10 percent of the state's population — plan to live elsewhere in retirement. This in a state that already leads the nation in population decline.
Great moments in Blue state America.What's wrong with Massachusetts??