Publication date:
March 20, 2025
Gen X Climate Mover Saves $1,000 Monthly in New Mexico
A 61-year-old pharmacist relocated from Miami Beach to Santa Fe due to climate concerns and cost savings, highlighting potential shifts in retirement planning.
Climate & Energy
Chris Gates, a 61-year-old pharmacist, has made a significant life change by moving from Miami Beach to Santa Fe, New Mexico, driven by climate change concerns and financial considerations. This move, which Gates refers to as being a "climate mover," has resulted in substantial monthly savings and a sense of increased security from climate-related risks.
Gates' decision to leave Florida after two decades was influenced by several factors. He had become increasingly worried about the state's vulnerability to climate change, particularly the flood risks in Miami Beach. Additionally, the rising costs of living and insurance in Florida were becoming a significant concern as he approached retirement.
The financial benefits of the move have been immediate and substantial. Gates is now saving approximately $1,000 per month on home insurance and HOA fees alone. In Miami Beach, his monthly HOA fees were nearly $1,200, and condo insurance cost about $190. In contrast, his new home in Santa Fe has HOA fees of about $250 and insurance costs of just $72 per month.
Beyond the financial advantages, Gates feels more secure knowing that New Mexico has implemented a statewide climate action plan. This stands in stark contrast to Florida, where he had witnessed a rollback of climate initiatives and a reluctance to address climate change at the state level.
While New Mexico presents its own set of climate challenges, including wildfires and extreme heat, Gates believes the state is better positioned to address these issues. He cites New Mexico's commitment to renewable energy and its proactive stance on climate adaptation as key factors in his decision.
Gates' story is part of a broader trend of individuals and families relocating due to climate concerns, although such moves are not yet widespread. His experience suggests that climate risks and associated costs may become increasingly important factors in retirement planning and relocation decisions.
For the energy sector, this trend could have significant implications. As more people consider climate risks in their housing decisions, it may drive demand for more resilient infrastructure and accelerate the transition to renewable energy sources. Energy companies and policymakers may need to adapt their strategies to address these changing consumer priorities and the shifting demographic patterns that could result from climate-motivated relocations.
Gates' decision to leave Florida after two decades was influenced by several factors. He had become increasingly worried about the state's vulnerability to climate change, particularly the flood risks in Miami Beach. Additionally, the rising costs of living and insurance in Florida were becoming a significant concern as he approached retirement.
The financial benefits of the move have been immediate and substantial. Gates is now saving approximately $1,000 per month on home insurance and HOA fees alone. In Miami Beach, his monthly HOA fees were nearly $1,200, and condo insurance cost about $190. In contrast, his new home in Santa Fe has HOA fees of about $250 and insurance costs of just $72 per month.
Beyond the financial advantages, Gates feels more secure knowing that New Mexico has implemented a statewide climate action plan. This stands in stark contrast to Florida, where he had witnessed a rollback of climate initiatives and a reluctance to address climate change at the state level.
While New Mexico presents its own set of climate challenges, including wildfires and extreme heat, Gates believes the state is better positioned to address these issues. He cites New Mexico's commitment to renewable energy and its proactive stance on climate adaptation as key factors in his decision.
Gates' story is part of a broader trend of individuals and families relocating due to climate concerns, although such moves are not yet widespread. His experience suggests that climate risks and associated costs may become increasingly important factors in retirement planning and relocation decisions.
For the energy sector, this trend could have significant implications. As more people consider climate risks in their housing decisions, it may drive demand for more resilient infrastructure and accelerate the transition to renewable energy sources. Energy companies and policymakers may need to adapt their strategies to address these changing consumer priorities and the shifting demographic patterns that could result from climate-motivated relocations.
