| Nonearnings Income Migration in the United States: Anticipating the Geographical Impacts of Baby Boo |
|
|
|
WP#2004-31 AbstractThis paper highlights geographic regions gaining and losing investment and social security income (collectively referred to as nonearnings income) through migration of baby boomers and their predecessors. There is a consistent Rustbelt to Sunbelt shift in nonearnings income due to migration, as well as movement down the urban hierarchy into nonmetropolitan destinations. The analysis further indicates migration of those over age 55 contributes to greater levels of economic disparity across space. Regions like the Plains are losing a higher proportion of well- to-do migrants in this age group, as individuals move to high amenity destinations in the Rocky Mountains. Such destinations are likely to enjoy significant economic benefits as these new sources arrive. The places of origin, however, are left with less-well-off populations posing significant social and economic problems. In contrast, baby boomer migration appears to benefit nonmetropolitan territories in all regions, and baby boomers with higher levels of per capita economic resources appear to be responsible for these nonmetropolitan income gains. For executive summary in PDF For full paper in PDF Peter B. Nelson is an Assistant Professor in the Department of Geography at Middlebury College. The research reported herein was performed pursuant to a grant from the U.S. Social Security Administration (SSA) to the Center for Retirement Research at Boston College (CRR). This grant was awarded through the CRR’s Steven H. Sandell Grant Program for Junior Scholars in Retirement Research. The opinions and conclusions are solely those of the author and should not be construed as representing the opinions or policy of SSA or any agency of the Federal Government or the CRR. The author would like to acknowledge the invaluable research assistance of James Nicholson and E. Hope Stege. Without their aid, this project would not have been possible. |