5 Signs That You Should Move in Retirement
Nov 09, 2016
As is true of most major life decisions, moving to a new home or an entirely new city during retirement has benefits and drawbacks. Moving can be exciting and may help you better live the retirement life you’re seeking. But it requires time and energy. And, if you move to a new place, you may have to make a whole new set of friends. If you’re on the fence about whether or not to move once you retire, here are five signs that a move could be the right call.
Your city is too expensive
Your retirement savings will not go as far in a city with a high cost of living as they would in a city with a low cost of living, plain and simple. If you live in a high-cost city and want to get the most out of your retirement savings, relocating to a city where everything from real estate to groceries is more affordable could be a great move to make in retirement.
Your children live far away
If you live far from your children and would like to be closer to them, you’ve got a great reason to move in retirement. By moving closer, you’re almost certain to see more of your kids and grandkids than you otherwise would. You may also be in a position to help them more with childcare and other responsibilities, something they’re sure to appreciate. Moving to be closer to your children will almost certainly enrich your retirement years.
Your house is too big
If you haven’t downsized since the kids moved out and have way more space than you need or want to maintain, move. You can treat the need to move as an excuse to relocate to another part of the country, or move into a smaller home in the community you live in if you would prefer to stay.
You’re seeking change
How do you envision your retired life? Does your current place of residence have the infrastructure, amenities, and weather that enable that lifestyle? If you’re looking to indulge daily in an activity you can’t easily partake in where you live or you’re craving a major change of scenery, moving to a new community may be the right choice for you.
Nearby medical care is limited
Convenient access to affordable, quality health care is an important criterion for most retirees looking for a new place to live. If you live far from a hospital or doctors specializing in the types of medical care you need in retirement, moving could be wise.
Regardless of whether you stay where you are or move in retirement, it is essential you have the savings you need to live comfortably during your non-working years. If you’re looking to buy Life Insurance with Long Term Care benefits or annuities that will generate more income for you in retirement, work with an independent agent affiliated with Brokers Alliance. Call (800) 290-7226 for more information.