What questions should you ask yourself about where you’d like to live in retirement? No doubt your first question is can I afford to move? Beyond that, what else do you need to think about?
In retirement life coaching we talk about the benefits of moving vs. staying in place. Both have their advantages and often clients haven’t thought about all the things they should consider. Beyond the financial, there are a variety of lifestyle considerations to look at as well.
Here are a few of the things to think about when planning for retirement:
- What size of home do you need at this stage of your life?
- How important is being near healthcare providers?
- Will you continue working after you retire or will you look for volunteer opportunities?
- How important is it to be near relatives?
- If you move, how will you make new friends?
- Are you interested in going back to school or being near a university?
- If you stay in your current house, who will give additional support or healthcare for you when you need it?
- How important is weather to you?
- What types of transportation do you need—a nearby airport, bus service, car?
- Can you leave your memories and your home behind?
Remember to discuss this with your partner. Often this step gets overlooked and people assume they know what their partner “wants.” You may find that each of you has a very different expectation about where to live in retirement.
If you’re close with other family members, it’s also important to talk about your ideas with them.
As an example, you may think that moving closer to your adult child and their family would be a plus. It would allow you to be a more active grandparent. It could be a major surprise when you find out they don’t expect to stay in place and have relocation plans of their own.
Start thinking about relocation now before you retire. Figure out what’s important to you and begin to compile your list of location “must haves” as a start to your retirement planning.