Quality of Life in New York>Question Details

John Clinton, Other/Just Looking in Shippensburg, PA

is it possible to retire in manhattan?

Asked by John Clinton, Shippensburg, PA Thu Aug 9, 2007

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Absolutely. In fact it's becoming very popular. Many baby boomers are already planning their retirement by buying condos in Manhattan. Many suburbanites are choosing retirement in Manhattan. There is a great infrastructure in place in NYC for senior citizens.
Web Reference: http://nycblogestate.com
2 votes Thank Flag Link Sat Aug 11, 2007
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
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It is always possible; the question is more "What will it take to retire in Manhattan?" And the answer is....that depends! Well there's a non answer if you ever heard one. But it does depend on many things. First, what lifestyle would you like to have? Are you after the ritz-glitz social scene, high brow fancy soirees or is your rally cry "Viva Bohemia"? Each has a different cost of entry. Find out what that cost is now and then project out to your expected retirement with the rate of inflation. If you are allergic to math like I am, just estimate. A broad rule of thumb is costs double every ten years. (!!!! To effectively plan for retirement, get the help of an experienced financial advisor. !!!!) Once you have a goal then you can go about setting plans to reach that goal and back that up with plenty of action.

I love the idea of retirement in NYC! There may be no better place to keep the blood pumping through the veins. Every time I run up there the city seems so alive! When you go make sure to stop in Little Italy. There are some excellent places to get canoliis.

Donna Saylor & Carolyn Mitchell
The Power of TWO!
1 vote Thank Flag Link Thu Aug 9, 2007
Manhattan is the Center of the Universe! And that is my Opinion!
Many people raise their kids in suburbs and now, they need to enjoy the nightlife and the day life so they move to Manhattan to have everything at their finger tips. And to answer your question, Yes! You can definitely retire in Manhattan. You just have to be able to afford it! It's not cheap to live here,but it is worth every penny! It keeps you young, alive, energetic, busy, and cultured!
Blest of luck!
Fern Hamberger
Fhamberger@corcoran.com
Corcoran
0 votes Thank Flag Link Sun Jul 7, 2013
Yes, John. There are many activities to occupy a retiree's time here, including museums, galleries, shows, and of course people watching. Public transportation is plentiful, and easily accessible. According to the most recent census figures, there are 460,000 New York City residents age 75 and over, a group that makes up 5.6 percent of the city’s population. Nearly 100,000 of them live in Manhattan, where they account for 6.2 percent of the population, and their numbers are about to grow. Soon the first of the baby boom generation will begin turning 65. There are a full range of services for the elderly in New York City, offered by local government, senior centers and nonprofit groups. New York City was a pioneer of the concept of the naturally occurring retirement community (or NORC), which helps bring critical services to the elderly who live in high-rise buildings and certain neighborhoods. Older people living in a NORC can gain access to health screenings, transportation and housekeeping services as well as recreational and wellness programs.
0 votes Thank Flag Link Sun Jul 7, 2013
It isn't a great place to retire to. Florida is the correct Answer to this question! There is a reason Florida is the number one destination for retirees - Well , there are many reasons

Cost Of Living; Florida is much lower than NYC!

Weather ; Florida , of course , is a vacation destination for a reason.

Taxes : There is a large difference in Taxes

Pace Of Life: NYC has the quickest pace of life in the world. There isn't time to "stop and chat"

Please re-think this !
0 votes Thank Flag Link Wed Jun 5, 2013
Manhattan might be difficult:
1) Are you ready for very cold weather?
2) Onset dementia issues typical of those in their 80s can be very worrying in an area like Manhattan
3) Public transportation, such as NYC subways are not very accommodating for those over 60

In general, there is risk in such a decision. Much needs to be done before Manhattan becomes accommodating to any but the young, and it's best to visit and understand these surroundings before declaring yourself such a pioneer.
0 votes Thank Flag Link Sun Feb 7, 2010
Yes! Where else! Of course, that depends on your budget....
I f you live in Manhattan: you don't need a car, which is a real plus, in terms of cost and reflexes!
Many reasonable restaurants, that serve a wide range of food deliver. Some grocers like fresh direct, you can order from online and have the food delivered, and others will deliver what you pick out at the store. Most drugstores deliver,(though they have restrictions) and launderers and dry cleaners pick up and deliver. There are lots of cultural events and attractions, many free or low cost.
State of the art medical care is easily accessible.
Please contact when you are ready!
Look for my website, posted on my profile, in the near future as I am in the process of moving...
Web Reference: http://freshdirect.com
0 votes Thank Flag Link Mon Sep 24, 2007
Sure...but most financial planners suggest if you retire to a new place that you do it in a place less expensive than where you are currently. Typically you don't want to "move up" to retire, so it just depends on where you're moving from and what your assets are and of course your life expectancy. Since Manhattan is one of the most expensive places to live I think a lot of people would ? the idea of retiring there, but again if you're coming from San Francisco or Tokyo or London or Paris...it might be less expensive. If you like Manhattan consider Buenos Aires. Very similar cities, but prices are dirt cheap in BsAs....
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Thu Aug 9, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Absolutely and that would depend where you are coming from to retire in Manhatten. Coming from the San Francisco Bay area with assets it would easily work. If your were comint from Kansas without assets it might be another story. Also, how far is retirement off? With careful planning it can be done.
0 votes Thank Flag Link Thu Aug 9, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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