A guide to help you make one of the most important decisions of your life.
It’s finally here. The golden days of retirement are just around the corner. This is what you’ve been dreaming about all your working life. Don’t you think its time to choose a place to enjoy it?
There are many things to consider when choosing a place to spend the rest of your life. Finances, weather, health care needs and even traveling distance from relatives and loved ones. The following guide will help you to make one of the most important decisions of your life.
Finances
The first thing you need to think about is your finances. Can you afford to move? Can you afford not to? Although they are not the only thing to consider, finances are quite often the main decision maker in choosing a retirement spot.
Taxes
State and local taxes are going to be one of your biggest concerns. In order to find out the tax burden in any chosen community you can click on to www.kiplinger.com. In the "Your Finances," section you will be able to find information on state income tax amounts, sales tax amounts and other pertinent tax information that you may need in order to make an informed decision. This service is free but can be an invaluable tool.
Income and Spending
You will also need to look at your sources of income. How much Social Security will you be receiving? How large is your pension? Your nest egg? Kiplinger.com also has a section called "Tools," where you can calculate expenses for many different monetary situations.
Weather
In making your decision on where to retire, weather conditions for the area should play a big part in your choice. Do you like to go fishing? Aside from being near a waterway, you will also want to be somewhere warm and sunny. Do you enjoy skiing? A colder climate closer to the mountains would be a better choice for you. If golf is your thing, there are hundreds of places where you can live happily ever after. As a whole, most retirees prefer a warmer temperature for the golden years but that doesn’t necessarily mean you have to move to Florida. All of the states in the southern hemisphere have beautiful climates and mild temperatures. And many of them have lower housing costs and more affordable taxes than Florida does.
Health Care
As we age, it is normal for all of us to have health care issues. When choosing a place to retire you need to think about yours. All states have hospitals, this is true, but do they all have a hospital that specializes in your particular health concerns? There is a website you can find by going to www.healthgrades.com that can help you to check the consumer records of hospitals, physicians and nursing homes, all over the country including disciplinary actions and board certification. If you are planning to retire in a different area from where you now live, you can also find a new doctor there that specializes in the field that you require complete with phone numbers, location and their education information.
Missing Loved Ones
When deciding on how far away from home you plan to retire, you must consider how the new distance from relatives and loved ones will effect you. Are there any grandchildren to consider? Will there be? How much do you depend on others for everyday help and assistance? Once again finances will play an important role in making this decision. Will you be able to afford emergency trips home? How far is the nearest airport or bus station? How often will your busy family be able to come to visit you? With planes, trains and automobiles readily available you should be able to work this out easily enough but it should be considered an important part of your decision on where to retire.
Once you have a location in mind, you will need to think about housing opportunities in that area.
Retirement Communities
Do you really want to spend your retirement cutting the grass and weeding? For the avid gardeners amongst us, this may be a dream come true. For others, this could become a nightmare. There are many assisted living, age-restricted or active adult communities to choose from. Most of these places have a complete list of amenities for interested seniors such as swimming pools, golf courses and fitness centers. You can learn about many such places across the country by doing an internet search for, active adult communities and then choosing a site whose offices are located in your area of choice.
Buying a New Home
Aside from assisted living, you might want to consider buying a town house or condominium. You can maintain your independence but lose the yard maintenance and repair problems. If you enjoy the upkeep of being a home owner, you may want to think about purchasing a smaller home that might be more affordable for you to run.
Check it Out
Once you’ve chosen a place where you think you might like to retire, don’t jump in with both feet. Spend some time there first. Try to visit the area during a couple different seasons during the year. Make arrangements to be there during the hottest and coldest seasons. Go to the local grocery stores and pharmacy’s and do some investigative work. Are the prices what you expected them to be? Are the clerks friendly and patient? Strike up a conversation with other shoppers. Are they warm and receptive to you? If financially possible you might even think about renting a place there temporarily to get a good grasp of the area, before making any permanent changes.
Final Thoughts
Choosing a place to retire is one of the most important decisions you will ever make. Take your time and consider all of your options before making any moves. Discuss your thoughts with friends and family to see what they think but always keep in mind that it is entirely your decision to make and a decision that you will have to live with for the rest of your life. Make it a great one!