30 years in Orange County, Calif., Rex and Barbara Scott picked up last year and moved to Sioux Falls, South Dakota. They’re now a three-hour plane ride from their two kids and six grandkids in California, but Rex, now 66, and Barbara, now 62, found the economics of the move compelling.
Not every sixty-something is looking to return to their rock ‘n roll roots. But many baby boomers are now, as the Scotts were, sitting on huge gains in home equity that could provide a cushion in retirement—if they’re ready to move to lower-cost areas.
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