Strategic Relocation for Financial Independence

This chapter examines key considerations for relocating during a financial independence journey, focusing on the management of vacation rentals and tools for real estate investors. It highlights the importance of financial planning and affordability, comparing retirement suitability across different U.S. states and illustrating the potential financial benefits of moving to lower-cost areas.

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Should you move to reach FIRE? And if so, where to? In this episode, we’re pulling back the curtain and revealing the best places to retire in the US in 2024. Living in one of these states could help fast-track financial freedom, and moving there for retirement could help your nest egg go further and improve your quality of life!

Welcome back to the BiggerPockets Money podcast! Alex Gailey, a lead data reporter at Bankrate, has ranked all fifty states for retirement based on five weighted “buckets” made up of dozens of crucial data points. Today, she joins the show to share her findings with us. Whether you’re looking to put down roots in a low-cost-of-living area or find a location that delivers your ideal retirement lifestyle, this list of states is a useful launching point for one of the most important life decisions you’ll ever make!

In this episode, you’ll learn how changing your address could accelerate your financial independence timeline and allow you to retire early. Alex will break down the five factors people value most in retirement—affordability, well-being, cost and quality of healthcare, weather, and crime. Stay tuned to find out which states came out on top and which states you might want to avoid. The results even surprised us!

In This Episode We Cover

Breaking down Alex’s list of best (and worst) states to retire in the US

How to accelerate your FI timeline simply by changing your address

The top five “buckets” that make up an ideal retirement destination

The most crucial factors to consider when choosing where to retire

How to take advantage of unique opportunities in high-cost-of-living areas

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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