<p>This paper is based on 27 semi-structured interviews conducted in multiple locations in peripheral municipalities in Hungary between March 2022 and April 2024 with older adults who had migrated to Hungary either from Western Europe or from Ukraine. The research employs the theoretical framework of international retirement migration (IRM) while broadening the geographical scope of related research. Our contribution explores the multiple motivations and strategies of older migrants from the East and West. The research presents new data on a topic that has been overlooked in post-socialist countries such as Hungary and explores the peculiarities of narratives among older adult migrants. Our data draws on the understanding of geographical arbitrage described by Hayes (<CitationRef CitationID="CR15">2014</CitationRef>), whereby individuals exploit global inequalities to mitigate financial insecurity or improve their circumstances in retirement. The paper seeks to link the concept of ontological security with the IRM literature. It argues that, given the perceived status loss resulting from the neoliberal transformation of the state and geopolitical conflicts, migration can be interpreted as a strategy employed by older adults to reaffirm ontological security. Notably, a desire for security (with an altered meaning) emerged as a narrative strategy in both groups, partly to conceal the economic reasons for migration. Western European older migrants list ideological reasons for moving to Hungary, which they describe as secure and traditional. Migrants from Ukraine—overwhelmingly ethnic Hungarians—also emphasise their sense of belonging to the motherland.</p>