Where do you envision living in retirement? Living in another country? A home on the golf course? A quiet cabin in the mountains?
While a vacation retreat may seem appealing, most Americans will choose to retire near home, usually to be close to family or because of strong community ties there. But if you are thinking about moving, or perhaps buying a second home, you may want to consider:
- How close you want to be to family and friends;
- Access to good hospitals and health care;
- Climate/weather;
- Crime rates;
- Cost of living;
- Housing costs;
- Taxes;
- Amenities (shopping, cultural arts, universities, etc.);
- Jobs, if you plan to work; and
- Political climate.
If you are thinking of relocating, it is a great idea to spend time in that region first. Most areas have a "good season" in terms of weather and a "not so good" season. Make sure you spend time there in both seasons so you get a good picture of what it really would be like to live there.
Retirement Communities: In addition to the traditional 55+ communities you have heard about, newer themed retirement facilities—based on common interests, faith, etc.—are becoming popular. Others offer graduated living facilities, where you can live independently in your own home with some level of nursing or home assistance if you need it. Then, if your need for care increases, you can be moved into an apartment or nursing home and still remain close to the friends you have made.
Mobile Lifestyle: You may pick up on the RV lifestyle, spending some or most of your time touring the country or camping in your favorite destination. Or you even can buy a condo on a cruise ship and travel the world!
College Towns: You don't have to head back to school full-time to appreciate the benefits of many college towns, including free and inexpensive cultural activities; educational opportunities; and a vibrant population.
Home Sweet Home: You may want to stay at home, and even remodel your home to make it more comfortable for your lifestyle. Do you really need four bedrooms now? If you have a good relationship with your children, you may want to discuss the option of moving in with them, perhaps in an addition you build on their home.
