I’m sure we’ve talked about this in various ways, but what are some of the things people care about for a retirement relocation?
I can think of several -
Lots of outdoor space nearby
Within reasonable distance of fairly large airport
Availability of great medical care
Very safe area
No colder than where we live now, but not too hot/humid either
Low probability of natural disasters
Not too far in the opposite direction of us politically
Ideally overall taxes no worse that where we live
Ideally someplace with something “special” - maybe a water or Mountain View, for example
Extra points for long distance off street biking/walking paths nearby
Ideally somewhat walkable to restaurants and things like that
I just did this off the top of my head. What else should we be considering?
That’s a great list and very similar to the one we used. Another thing I considered was the availability of public transport (as well as having services within walking distance eg basic shops, post office, library, concerts, movies, views etc. as mentioned by FallGirl). I can foresee a time when I no longer wish to drive so buses and commuter rail etc will be important to maintain independence should I wish to venture further afield.
Also always good to look at those lists that are made by Kiplinger’s and others - best places to retire…
Great to evaluate over periods of time too if you are not in a hurry. Maybe even doing a longer rental in the new area to get all the ins and outs of living there as well as if you really are enjoying it.
Some people with being able to work from home can relocate earlier than retirement too - I read with interest about a couple that did so.
I shook the apple tree a bit with DH when I showed interest in a condo to purchase from a friend in DD’s city - and DH after thought said he wanted to remain in current town – so I said we stay in our current home. That also did generate the new mortgage too over 10 year period. When we are getting close to 75, DH may change his mind. Plus we may (or I) may be living some of the time close the the grandkids and their parents between now and then.
For some reason most of those places are NOT places I want to live in…
Everyone has different criteria. H and I do not mind cold winters (and we plan to travel a bit in the winter), but a lot of those lists define “good weather” as weather we would be miserable in. I have zero interest in living in a rural area, a suburb (with VERY few exceptions) or a smaller city. Neither one of us wants to live in an area where our progressive political leanings would be a minority view. Etc.
That’s US. Others have different viewpoints/criteria. Which is fine.
I tend to think the retirement location suggestions from various magazines aren’t particularly helpful, but I do read some of them.
Each person/couple has things they care about, and better to focus on that list and places that meet their criteria.
Like @FallGirl i enjoy winter and I live for our beautiful summers in the upper Midwest. Nothing better. Fall is spectacular.
However March, April and usually May are miserable. The wonderful snow has melted into an icy mess in March. It’s not spring (don’t really have spring weather) but it’s not winter either. I’d like to have enough money that spending the icky season elsewhere is plausible.
What I’m not fond of is a small town and the political climate here. It’s becoming more and more insular and the climate is becoming more radical. I find it becoming tedious.
I totallly agree with you. I’ve looked and found nothing appealing about the places included on those lists. I think the list makers choose some of those places simply because the cost of living is low.
H and I hope we can continue aging in place right where we are. The only thing we might want to change is to spend 4-5 weeks in the winter somewhere warmer than New England and spend more time at our vacation place in the fall and spring, if H every completely retires.
Given the state of retirement savings (or lack thereof) for so many people, I expect that cost of living will be a very significant factor for most people.
There a variety of lists, with various priority factors. Sometimes there are places on the lists, like Boulder CO, that are NOT very affordable (even for working folk). I find the articles interesting, even though no plans to move.
1214mom - you may want to check out the “Downsizing - pros/cons” thread - a lot of us are discussing those same issues there. It’s been so enlightening to read what others think!
My wife decided this week that she will be retiring in March of 2023 (just short of 65). Based on conversations with our financial advisor, it made do difference financially to retire then vs later in 2023.
Congrats to your wife, jmnva06! Reading this thread, there is just so much to think about prior to that big decision. Exciting that your family is there for one of you.
I peruse this thread often but rarely post. You all have provided such great info, food for thought and inspiration (especially those that have pulled the trigger early)!
It is looking like retirement is on the horizon for us - H may hang it up at the end of this year! Although he is 57 (will be 58 soonish) he has had a very stressful career and the amount of hours he has worked far surpasses the 32 years - feels more like 40!
This is something we have been planning for years. He was never going to work past 60 but recent events (work and health) has us re-evaluating and the obvious answer was our quality of life, happiness and health are FAR more important than anything else. Our financial team has run the numbers and working until 60 doesn’t change much - we are in good shape. And for that, we are grateful.
We are excited about 2023 being the start of a new adventure! H realizes he needs to start thinking about ways to stay busy (which is the only small concern) but I am confident interesting things will pop up. I have been a SAHM so I am more accustomed to filling my days.
We still have some things to finalize/moving pieces but all in all, we are pretty darn excited. Fingers crossed this dream becomes reality in 2023.
The health care coverage piece is the one that often is a ‘catch’ for people retiring before 65/Medicare. Someone who works for the government, or a company that still has the retirement ability to purchase insurance via more friendly company/group rates - that is a huge cost savings. My dad sold his business and retired prior to age 60 - mom was able to get pretty good coverage w/o huge expense, but dad had chronic conditions that threw him in the high risk group that had the once choice for coverage - and in early 1990’s he paid about $20K/year premiums with $2K deductible - but he was glad to have the insurance coverage. He was waiting for Medicare and big savings, but sadly died of cancer 2 days before his 64th birthday in 1995. Mom died at age 77 in 2010. I have already beaten stage III aggressive cancer, and although my DH has extreme longevity in his genealogy, I plan to outlive him. Ha Ha.
Assuming younger than Medicare age, pre-ACA medical underwriting guidelines would likely have had you be uninsurable on an individual basis due to the cancer. With ACA, you can buy medical insurance individually, but the price may be a shock to those who had highly subsidized employer medical insurance and did not realize how much their employer was paying for it.
Can someone explain the Medicare Give Back?? My internet search just lead me to sites where folks want my phone number/email and want to sell me a Medicare Advantage plan. Is the “Give Back” only for folks who have a Medicare Advantage plan?