Retirement Answer Man #239 - Relocation in Retirement: Finding the Perfect Place to Retire
Where you live in retirement does not depend on the school district, your job, or having a bigger house for the kids. For the first time in your life you can live anywhere you want with no restrictions. If you are thinking of relocating in retirement then you’ll definitely want to listen to the Relocation in Retirement series of this show. On this episode, we’ll be discussing what the considerations are to finding the perfect place to retire. If you have been thinking that you may want to relocate when you retire then you will definitely want to listen to this episode and discover how to find the perfect place to retire.
Retirement and moving are among the top ten stressors, so why do both?Most people decide to age in place, but there are many people that do wish to relocate as part of their retirement plan. Both retirement and moving among the top ten stressors that you can have in your life. So when you are talking about doing both and at the same time it can be a rough ride. This is why it is so important to go about retirement and moving with the right attitude. If you let the stress get to you it can be overwhelming, but if you bring the right perspective then relocation in retirement can be a wonderful choice. Listen to this episode to help you learn how to find your happy place to retire.
What are the motivators for moving in retirement?People choose to move in retirement for a number of reasons. The home equity accrued can make up a large portion of your net worth. Your mortgage is probably pretty well paid down and in addition, right now, most home markets are doing quite well. This can be a big motivator to sell the house. Some people feel the need to ‘right-size’ their house. After the kids are grown many people end up with too much house, and along with that come big taxes and upkeep. By downsizing, you can save a substantial amount of money. What are your motivators for moving in retirement?
What should you look for in a forever home?Once you make the decision to sell your house, what should you look for in a house where you plan to live for the rest of your life? You shouldn’t think about what suits your life just now, but how it will suit you on down the road when you become less mobile. Does it have attributes for you to age in place? You don’t want to have to deal with stairs as you age, so a multi-story home could be a challenge. You should also consider if the doorways are wide enough to accommodate a walker or wheelchair. Listen to this episode to hear all the considerations you may not have thought of when moving to a forever home.
What type of community are you looking for?When choosing a different community to live in there are many things to consider. How close is it to the family? Kids and grandkids can be a big draw, but what happens if they decide to move? Cost of living is also a huge consideration. You probably don’t want to live somewhere that will break the bank. Living somewhere with a lower cost of living can completely change the way you live your retirement. You could stop working sooner, travel more, or spend money on extras. Another consideration is, what kind of community services are there? Look at hospitals, doctors, assisted living centers, or churches. Listen to this episode of Retirement Answer Man to find out all the things you need to consider when looking for the right place to retire.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT- [2:45] Retirement and moving are among the top ten stressors
- [3:26] What are the motivators of moving in retirement?
- [8:21] Does it have attributes for you to age in place?
- [9:55] Where are the kids?
- [11:35] What is the cost of living?
- [13:57] What type of environment are you looking for?
- [17:13] What is the tax situation like?
- [18:38] What is the happiest thing about a relocation?
- [20:18] Think about where you would live if there were no constraints
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