For many people who retire, a move to a more ideal location is part of the package. Perhaps you want to stretch your money farther somewhere with a lower cost of living, or maybe you want to escape harsh winters. The choice of location can seem daunting in a country as large as the United States; throw international locations into the running and you may feel paralyzed by all the options. But, with some careful examination of your finances, and your wants and your needs, narrowing down the choices will be easier than you think.
Cost of Living
Money is usually a top factor when considering a retirement location, especially if you will not be brining in any additional income besides pensions, savings and retirement accounts. But, do not become obsessed with finding the cheapest place you can. While the idea of saving lots of money can be appealing, this alone is not enough to truly enjoy a place.
With that being said, however, the right move can mean good things for your wallet. If you currently live in a more expensive area, the equity built in your house can give a nice boost to your nest egg, when your new house is only a fraction of the price. If you like the idea of living in a city with lots of offerings, a temperate climate and inexpensive housing, for example, Augusta Georgia real estate can be a steal. This city was voted one of the top ten places to retire where you can buy a home for less than 100,000. Some US states do not have income tax at all, while over half do not tax social security; some states also do not tax pensions, public or private.
What Do You Most Value?
Now that you are no longer devoting a large chunk of your waking hours to working, and you have the freedom to go anywhere you desire, think carefully about what you most value in a location and life in general. Do you want top-notch golf courses? Is becoming more cultured important to you? Are you strongly impacted by weather? Do you want easy access to educational opportunities? Do you thrive best in a busy environment or somewhere a bit more isolated from the hustle and bustle of life? Are you interested in possibly getting a part-time job? Are ample volunteering opportunities important and do you feel particularly passionate about certain causes? Careful thought to these matters will focus your search and you will feel more confident in your choice of location.
Long-Term Considerations
While your current circumstances are heavily informing your choice of location, it is important to think long-term as well. As you age, your needs will change and you will need more in the way of healthcare and assistance. It can be a bit depressing to think about, but something that should be factored into the equation. Consider the quality of healthcare in the areas you are considering; are there specialists nearby that can help with specific problems you have that may worsen with time? Check the cost of Medicare in each area as it varies. Are there organizations nearby that provide assistance to the elderly, such as transportation, home maintenance and meal services? Do not just think about whether you can live in this place now, but could you live there 20 years from now?
About the Author:Kelli Cooper is a freelance writer who enjoys blogging about anything related to real estate and relocation.
