NC State Economist Dr. Mike Walden – “Where Do Retirement Incomes Go?”

 

Mary:  I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program asks, where do retirement incomes go?  Mike, as our nation ages, where retirees live and spend their money will become more important to the economy.  If we look at the country today, where is retirement income going?

Mike: Summary Answer

  1. New study mapped what counties in country have one-third of their household income coming from retirement sources – mainly pensions and Soc. Sec.
  2. Some expected results – counties in Florida, Arizona, New Mexico, Nevada
  3. In NC – Wilmington, Asheville-Brevard, and Elizabeth areas
  4. But some unexpected areas – upper Michigan, Seattle, and parts of Minnesota
  5. Counties with least retirement income are mainly in the plains states
  6. Interesting to watch how changes in coming decades
  7. I’m MW

Mary:  And I’m Mary Walden for the North Carolina Cooperative Extension Service