The Pros and Cons of Retiring in NYC

Throughout history, NYC has been a final destination for people from many different nations and religions. People have been flocking here for many different reasons. Youngsters from all around the world see it as the epitome of success. “If I make it here I’ll make it anywhere” is the credo echoing through everyone’s mind. You want to end up here, get a job in NYC, be able to stay and support yourself, why not see NYC as your final destination? Retiring in NYC is as alluring as any other aspect of life here. If your life-long dream was to relocate to NYC for retirement and make it your final destination, you should look into moving quotes NYC. Here at Dynamic Movers NYC, we offer that service for free. But before you do anything let’s look into pros and cons of retiring in NYC.

Retiring in NYC
NYC is actually pretty great for retirement!

Is retiring in NYC on your mind?

First of all, let’s define what New York City area is. If you imagined your golden years spent in Midtown Manhattan, good for you if you can afford it! If you can, there’s nothing much we can add apart from a recommendation to hire Midtown movers for the job. They know how to navigate this tricky area and manage a successful relocation in Manhattan’s busy streets. Downtown NYC has assisted living communities which charge up to $20,000 a month! You worked hard all of your life for this and you should make an educated decision. Especially if you are looking into retiring in a booming metropolis such is NYC. If you don’t think it’s feasible to spend the rest of your days in Midtown start looking into NYC Metro area. Popular retirement spots include Long Island, the northern suburbs along the Hudson River, and northern New Jersey.


Public transport

A great way to reduce stress and anxiety in NYC is to not own a car. NYC area has a great public transport system which is well connected and organized. That’s why we are listing it as a number one quality NYC has to offer to its elderly. By retiring here you will save your independence past the moment when you are no longer able to drive and kids are taking your car keys away from you. Let’s not forget NYC cabs and you will always have a way of getting around. Being so mobile in old age is a wonderful thing, but out of reach to many living in remote suburbs.

Retiring in NYC
Retiring here gives you more freedom than you think.

Rich event schedule

Now couple that mobility NYC public transit gives you with its rich cultural offer and you will never run out of things to do! Welcome to NYC the home of Broadway! Not only that, you can visit world-renowned museums, galleries and be the first to see famous exhibits. Anything from opera to stand-up comedy is at your fingertips. Even if you don’t want to spend a ton of money on shows and museum tickets, there are loads of free things to do once in NYC. For example, you can walk around Manhattan and explore its rich architecture, or visit historical homes. There are so many things to do here, which make retiring in NYC start to sound like a great idea!

NYC is age-friendly

NYC understands and recognizes the needs of its aging citizens so much so that Age-friendly NYC initiative was founded. This amazing project is the product of a partnership between the Office of the Mayor, the New York City Council, and the New York Academy of Medicine. They work to “identify and catalyze improvements to enable older people to access, enjoy, and contribute to city life”. New York State’s goal is to become the first “Age-friendly state”. If this isn’t a good enough reason for retiring in NYC than we don’t know what is.

Retiring in NYC
Age-friendly NYC initiative is something to look up to.


Cost of living

Let’s talk about “cons” for retiring in NYC. The first thing that comes to mind is pretty obvious. Cost of living in NYC affects all walks of life. It is 68% higher than the national average. The Hamptons are a popular area for well-to-do retirees. The cost of living here is a whopping 140% above national average! If you are planning to downsize by selling your house to buy an apartment somewhere in the NYC area be very careful. You might fall short, a three-bedroom house in the suburbs can barely get you a tinny studio apartment in the city. This doesn’t mean you can’t make it work. You just need to do your research and downsizing from a house to an apartment is a good place to start.

Dangers and over-stimulation

Megalopolises such as NYC are always more dangerous to live in and we are not necessarily talking about the risk of robbery. NYC is a bit fast-paced even for the younger population, let alone elderly. Crossing the street might be dangerous as well as you are expected to be very fast and responsive. Another threat to older people poses the summer heat. It can get pretty hot in the city during summer months when the concrete acts as a giant stove. A lot of small apartments in the older building don’t have to air-condition. If you are retiring as a couple, you should discuss it with your partner. Are the busy, fast-paced NYC streets the background to what you imagined your retirement to be? 

Retiring in NYC
As much as NYC can be exciting it is dangerous as well.

The bottom line here is simple. Only you can answer the question if retiring in NYC is a good idea. Even if the cons are too strong, you can make it work! Look at retirement as a way to reinvent your life. You worked hard for others the majority of your life and now your time is here. Those post-work years should be the best years of your life. Therefore, if you had a quiet uneventful life in the ‘burbs, maybe retiring in NYC is just what you need!