By drawing from Statistics Canada and qualitative research data, this paper shows that population decline in the Strait Region of Nova Scotia has implications for out-migrants and the remaining aging population. For out-migrants, their departure from the Strait Region often results in upward mobility and increased income opportunities; however, for a significant minority of them, the process is associated with declining income opportunities. While rural and small town youth perceive out-migration to be necessary, those who remain in the Strait Region reflect on the negative consequences of out-migration on the vitality of aging communities. The paper concludes with a discussion of the challenges of trying to promote return migration and immigration as strategies for reversing population decline.