This is your perfect retirement destination

Jim_SamsonAlthough we spend most of our lives focusing on how to get to retirement as quickly as possible, we should also turn our attention to an equally important aspect of life after work.

Finding the right retirement destination for you can mean making your nest egg last years and years longer, providing yourself with better health, and even making yourself happier.

Here’s how to pick your perfect retirement destination…

The single most important thing to do when deciding where you want to live in retirement is to find out what is most important to you.

Is money most important? Or is it the health of you and/or your partner? Maybe it’s how close you are to your grandchildren, or what the weather is like. Be honest with yourself and create an ordered list.

It also helps to start out with several potential destinations in mind. That way you can narrow them down as you quickly go through this process, and I’ll continue as though you have a list already. Take a few minutes to jot some places down now (include where you currently live).

And remember, there are alternatives to picking 1 place and living the rest of your life there. Want to travel? Why not live a year or 2 in each place before picking up and moving on to the next destination?

But since we’re picking out your perfect retirement destination, here’s what you want to look at:

  • What does it cost to live in each potential destination?

No matter how much emphasis you put on money, it will be factor in how you can live your retirement, or maybe even how much you can leave to loved ones.

  • How far away are these potential destinations from family?

If you’re going to be far, considering airport access may become more important. How will the distance affect how often you can visit and be visited by family?

  • What is the state of medical care in each potential destination?

How are the hospitals in the area? What sort of specialists can be made available? Do the research and rank your potential destinations.

  • What does each place offer in regards to weather and how you want to spend your time?

Think about what you want to do in retirement. Do you want to golf, sit on the beach, fish, go to theaters, listen to a variety of live music, go hiking, volunteer, get into politics, play sports, etc., etc.

Figure out which each potential destination offers.

  • What sort of demographic are you looking at?

For this, you should look at different regions of the city/town you’re considering. You may find the perfect city, but if you move into the college area of that city you may regret it. Some people want to be around people just like them, and others want to be around completely different people.

Once you consider all of those things, narrowing your list down to 2 or 3 potential destinations should be relatively simple. From there, here a just a couple more things to consider that may separate them…

What sort of home could you be living in within each destination? Do you want to live in a house, but one destination is a city that doesn’t offer much space? Have you always wanted to live in an apartment in the middle of a city, yet one of your destinations doesn’t offer that?

An important note is that you don’t need to have thins all figured out right away, and answers to these questions can change over time. The whole idea is to get it right when the time comes, and making sure you pick out the perfect retirement destination for you.

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