The NY Times reports that elderly New Yorkers, unlike past elderly New Yorkers who left for Florida and other places after retirement, are sticking around.  The article begins as follows:

Chuck and Cindy Nemser have lived in a townhouse in Park Slope for 47 years. Until she began suffering from unexplained nerve pain a few years ago, Ms. Nemser, 77, an art historian and writer, would happily retreat to her third-floor office where she could work undisturbed. There’s plenty of wall space for the couple’s art collection, and ample storage for Mr. Nemser’s cache of fishing poles.

But the stairs have become increasingly difficult for Ms. Nemser to negotiate, and late this spring, Mr. Nemser, 80, an independent salesman, retired. The time was ripe to put the house on the market.

But let’s be clear: Leaving town isn’t an option. “I love the arts and I want to stay in New York,” Ms. Nemser said.

She speaks for thousands.

It used to be that New Yorkers of a certain age reflexively said goodbye to all this — the traffic, the tumult, the long lines and the incomparable bagels — and headed south or west for their sunset years. No longer. Around town these days there are many more than 50 shades of gray. According to the city’s Department for the Aging, the 60-plus population increased 12.4 percent between 2000 and 2010. By 2030 it is projected to grow by 35.3 percent to 1.84 million.

Read more at Elderly New Yorkers, Here for the Duration – NYTimes.com.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.