When retirement rolls around, retirees are usually faced with a whole lot of freedom but fewer finances to take advantage of that freedom. Being free to relocate to wherever your heart desires leaves you with many questions. Ultimately, many consider a move and never really get down to it which is all well and good at the end of the day. Here are some things you have to consider when you are looking at relocating as a retiree.
When establishing a comfortable retirement area, one of the biggest influencing factors is likely economic. The median price range of the homes in that specific area and the basic cost of living are factors that primarily need to be looked at and assessed. It is best to look at the statistics over a timeline so that you get a good picture of the stability of the area.
It is of no use if the figures fluctuate so much that you could uproot yourself and settle there only to find that two or three or even ten years down the line, you have to uproot yourself all over again. Take a look at the taxation issues and whether Social Security is affected by the state taxes. Don’t overlook any special breaks that may exist for retirement incomes and inspect the regulations on inheritance or estate taxes.
When relocating in retirement, it is obvious that the focus is on affordability and sustainable living conditions. When comparing the cost of living, it may be useful to have a reference point — that is, to compare other areas against your current living costs.
Check Out the Crime
Economic issues aside, livability measures are yet another aspect that calls for serious consideration. Have a close look at the rates of violent crimes in the areas you are considering for retirement as well as the jurisdictions of the area. Places that fall above the average of the nation should be ruled out. The last thing you need is worrying about being mugged when you’re taking a stroll or being hijacked or worse. Retirement is about kicking back and relaxing and it can be increasingly difficult to do that if you choose to retire in a place where the crime rate is climbing.
Healthcare Facilities and General Well-being
There is no doubt that another factor of prime importance when considering retirement is ensuring that you have easily accessible health care – this means you need to be within a reasonable distance from good, quality, and effective health care as well as several facilities that can help improve your health and well-being like a senior fitness club or even a gym at minimum. Don’t forget that healthcare needs to be accessible as well because if there is a good hospital a short distance away, it won’t be as helpful if it’s the only one for a wide radius! Tied into this will be transportation facilities, like easy and safe public transport for you to go to the clinic, pharmacy, hospital, or doctor’s rooms as needed. A further note on well-being – it would be a bonus if there are cycling routes!
Just as retirement itself is such a personal call, so, too, is your retirement destination. If you don’t have any children or a spouse, your decisions are somewhat simpler. However, if you do have a family, you have to consider other people when making this choice. Other personal choices besides the location of friends and family are culture and scenery. Each place has a culture of its own which you need to experience before you can actually make a confident decision to move — unless it is a place you are already familiar with.
A culture shock when you are a new retiree just uprooted from your home is not a good experience. Take the time to get a feel for the place you are considering and rule out the ones that you don’t enjoy — even if they deliver in economic and health fronts — so long as your next option matches up well. The scenery is also another consideration, and if you don’t know what you love, it is time you give it good thought – do you want water, forest, desert, city, or countryside? And that’s just a few to consider!
If your head is spinning already, then take a step back and picture yourself at your happiest. Take a close look at where you are and what kind of surroundings you imagine yourself in. If that doesn’t work, just imagine yourself in each surrounding and pay careful attention to how each makes you feel. It can be difficult not to be swayed by the opinion of others, so just do it alone before you share your thoughts! Planning a relocation in your retirement is about having fun and finding yourself!