From 24/7 Wall St. · David Beren · · 1m 10s
Retirees Move Near Grandkids, Wish They Hadn't
Retirees move near grandkids but often regret it within three years.
In brief
Retirees move near grandkids but often regret it within three years. Retirees who move near grandkids often regret the move within three years due to children relocating for jobs. Originally reported by 24/7 Wall St..
Retirees Move Near Grandkids
Thousands of retirees sell everything and move across the country to be near grandkids.
Why Moves Break Down
Adult children relocate for careers, housing, relationships, or educational opportunities.
Rare Retiree Moves
Only 6.2% of adults 65 and older move annually, with 19.7% crossing state lines.
Cost of Two Moves
Selling and buying a $450,000 home costs $31,500 to $49,500 before movers.
Retirement Income Lost
Two moves cost $63,000 to $99,000, equal to $2,520 to $3,960 of annual retirement income.
Medicare Plan Issues
Medicare Advantage plans require staying within a service area or switching plans after moving.
How to Avoid Regret
Rent for a year before buying and check Medicare dates before moving.
Children's Relocation
Children often move for jobs, leaving grandparents stranded.
The takeaway
Retirees who move near grandkids often regret the move within three years due to children relocating for jobs.
