How to Choose a Place to Retire

enjoying retirement

According to experts, about 30 percent of people move to a different state after retirement. Most people cite a change of environment as their main reason for moving, while others are looking to pursue a hobby or passion they had put off on the past.

Difficulty:

Moderate

Instructions

1. Examine your reasons for moving. If you’re looking to retire to a place where you can practice a favorite sport or where you can enjoy the outdoors more, make sure you don’t base the whole decision on just this point.

2. Look at the cost of living. Research what things cost, from groceries to utilities to hiring help to take care of the garden or to help you clean the home. Some areas are notoriously expensive and this will probably end up eating into your savings in the long run.

3. Don’t forget to check tax expenses. Policies vary around the country and property taxes can get really expensive in some areas, especially those that have lots of summer or holiday residences.

4. Research what the area is like. Not only what it looks like in photos, but also its climate, crime rate and population overview. For example, are you comfortable living in a place that gets crowded with tourists at some specific times of the year or a place where it’s easy to get stuck at home because of snowstorms.

5. Visit the place more than once. At least take a weekend trip in summer and another one in winter. Experience first hand what the local life is like, including shopping at supermarkets and taking a stroll on the local park. Become as much of a resident as you can (rather than acting as a tourist), so you can see how well you would fit into the community.

6. Consider what you would be giving up. If you’re moving far away from your original place of residence, you will have to build up friendships again. If you have grandchildren or a close relationship with your family, this will suffer too. This may seem like an easy choice at first, but make sure it’s something you can live with in the long run.

Tips & Warnings

• Health care costs can vary considerably from state to state, so you should make sure you can afford your own medical care wherever it is you’re moving to.