Retirement Living
For many, retirement is a time when people shift priorities
and put their own needs first. One of the most important
choices they need to make is where to live in retirement.Choosing
the right community and home is an important and challenging
decision.
Ask yourself, do you want to:
Remain in the home you occupied before retirement?
Remain close to your present community, but move to
a different home?
Move to another county or state, or to a different climate?
Move into your present vacation property?
Where to Live
If you lean toward moving to another region, start reviewing
options based on general climate, seasonal changes,
lifestyle, and proximity to family and friends.
For example, the Southeast is a popular destination.
It has more temperate climates than the Northeast, and
golf and other outdoor recreation options are abundant.
The region offers a wide range of living environments
from which to choose: coastal, mountain, woodland, rural,
and both planned and urban communities. Florida has
almost year-round sunshine; the Carolinas offer seasonal
change.
Many people choose to live where they play. If finances
allow it, some may consider owning two or more homes
so they can change their address along with the seasons.
This is one of the reasons why second home sales have
increased dramatically over the past few years.
When you’ve narrowed it down to a few possible
destinations, compare them on the basis of these factors:
Financial
Estimate the income you'll need to retire in that area.
Evaluate your resources and tax consequences.
Speak with your financial advisors about how long your
retirement resources can last in any given area.
Housing
Research average home sale prices and cost of living
in areas you like.
Factor in costs such as property taxes and utilities.
Climate
Review summer and winter comfort factors, such as high
temperatures, humidity, or snow and ice.
Look at psychological factors such as excessive cloudiness
or rain or fog.
Personal Safety
Research violent crime and property crime rates in
areas you like.
Find details in the FBI's Crime Index and local police
departments.
Services
Investigate the supply, availability, and quality of
health care, public transportation, and continuing education
in each area.
Employment
Evaluate the potential for pursuing a part-time or
full-time second career.
Leisure Living
Find out if the area offers the variety and quality
of restaurants, cultural events, and recreational activities
you want.
|
