ALBANY – New York’s baby boomers could provide $179 billion a year to the state’s economy in their retirement. That’s if they stick around.
A report Monday from AARP warns that New York’s aging population has indicated that a majority of them may leave the state in retirement.
AARP’s New York chapter commissioned a poll last spring that found 60 percent of working baby boomers – born between 1946 and 1964 – said they are likely to leave New York when they retire.
AARP is urging state leaders to change New York’s tax and regulatory policies to help aging residents stay in their homes and afford to leave in the state.
“New York State’s 50+ are a major force both at the ballot box and in the local and state economy – but many are worried about their futures here, and finances and affordability are major factors for them,” Beth Finkel, state director for AARP, said in a statement.
In 2010, one in seven people living in New York were aged 65 and over; by 2035 it is projected to be nearly one in five, the report said.
The advocacy group touted the influence of seniors in elections. Statewide seats for governor, attorney general, comptroller and the state Legislature are on the November ballot.
Voters aged 50 and older represented 58 percent of those who voted in the 2010 gubernatorial election, the AARP report said. That’s a rate twice as large as voters aged 18 to 49.
Reports in recent years have shown New York losing population to other states. New York in December remained the nation’s third most populous, but was narrowly ahead of Florida, according to the U.S. Census.
About 1.2 million people left New York to other states between 2000 and 2009, the Empire Center for New York State Policy found a report in 2011. Immigration is the main reason New York has added population.
AARP has advocated for New York to lower utility rates and property taxes. New York provides property tax breaks for seniors.
The poll said that 40 percent of seniors were worried about paying their rent or mortgage, and 56 percent were worried about paying property taxes.
Universal Survey, Inc., a New York City-based firm, conducted telephone interviews with 407 registered voters aged 50 and older in New York from March 19 through April 18. It had a margin of error of 5 percentage points.
© 2014 Gannett News Service
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