Are You Looking For A Place To Retire?
Most of my coaching practice involves giving presentations to groups of people who are preparing for retirement. I do, however, still see some clients for individual coaching sessions. While each person’s situation is unique, we invariably begin our discussions with the two subjects: “when” and “where.”
The “when” discussion is usually not about financial concerns. My clients are primarily concerned with how to find purpose in their lives after they stop working. We talk about decreased social interaction, loss of daily structure, diminished status, etc. Since many people have been working for thirty to forty years, they worry about how they will react to the abrupt change to the only life they have ever known.
In subsequent sessions, we began talking about the “where” discussion. This is not a simple discussion about destinations. We talk about their responsibilities to aging parents and their desire to be near their adult children and grandchildren. We talk about their daily routines of interacting with friends, family members and colleagues. Many are uncertain about their responsibilities to others and how those needs will impact the issue of where to live in retirement. Sorting through all of that takes time. We also focus on the many opportunities, choices and resources that are available to them today that weren’t available twenty to thirty years ago. These discussions become more urgent once an individual or couple has set an actual date for retirement.
Once an individual or couple has a good idea of their timing, they want to focus their energy on the question of WHERE to live in retirement. How they spend their time and find purpose in their lives will be affected by where they decide to call home. In fact, this is such a hot topic that I have a new eBook coming out this spring about this most important decision. Stay tuned! There will be a lot of valuable information and exercises to help you sort through this complicated process.
There are many emotional aspects to this question which are distinct and personal to every individual or couple and defy easy answers. They can decide to stay in place, purchase a second home, or move their primary residence to another state. There is no easy or correct answer for WHERE to live in retirement. Each of you has your own dreams, desires, needs, and responsibilities when deciding what’s right for you. The information and resources provided in this newsletter will hopefully get you to evaluate your options, regardless of the final decision you make.
Three Choices For You To Consider
1. Staying Put
The most inexpensive, least disruptive, and easiest decision you can make is to continue living where you already live. There are numerous positive reasons why this is the best choice for many retirees. While this might be the easy answer, you need to recognize that your house may still require some major structural accommodations to meet your needs as you age in place.
2. Relocating After Retirement
For another group of retirees, there may be just as many reasons to get out of town. In many ways, the rational can be the flip side of your decision to stay in place. Some people relocate to be near their grandchildren or aging parents or grown children. You might just want a slower pace of life or a lower cost-of-living.
Others choose to relocate to specific destinations like the mountains, the beach, the desert, small towns, college towns or historical destinations. Some simply want to move to get away from all the traffic or to embrace an urban lifestyle. Increasingly, baby boomers want the adventure of starting over in a new locale and creating a brand new way of life for themselves. There is no right or wrong reason for moving.
3. Purchasing A Second Home
There is another alternative to the concept of WHERE to live in retirement. Perhaps it can be defined as having your cake and eating it too. This concept involves purchasing a second home that you live in during certain times of the year while maintaining your present residence. If your budget permits, this can prove to be the very best of both worlds. This is the decision my husband and I made while exploring where to live in retirement. We love where we live in northern Virginia and can’t image giving it up on a permanent basis. On the other hand, we really wanted an escape from the winter weather. We bought our second home in Tampa.
Resources For The Curious
If you plan to relocate for your retirement years, consider these interesting lists and resources for places you can retire. Keep in mind that the creators of these lists do NOT know your desires or your unique circumstances. You must decide if you want to be near family, good medical care, in a warm climate, near the mountains, etc. These lists are only intended to give you ideas. Let this information guide you to the best choice for you.
While everyone’s situation is different, make sure all of your decisions are preceded by honest and heartfelt discussions with your partner and, if you are single, with your family and friends. As you consider the places on these lists, note both what appeals to you and what you really dislike (and why). This will lead you to decisions that will help you make the best of the rest of your life.
1. US News created lists of places to consider living after retirement and included the categories below:
- Places to Retire on Just Social Security
- Retire on $75 a Day
- Sunniest Places to Retire
- Places to Retire in 2012
- Fast-Growing Retirement Spots
- Places with the Oldest Population
- Best Places for the Wealthiest Retirees
- Best Places for Military Retirees
- Best Places to Retire for Singles
- Best Places to Downsize in Retirement
- Bargain Retirement Spots
- Retire for Under $40,000
- Places with the Most Retirees
- Places to Launch a 2nd Career
- Historic Places to Retire
- Places to Reinvent Your Life
- Affordable Mountain Towns
- Great Places to Retire for Wine Lovers
- Affordable Cities for Long-Term Care
- Best Places to Build a Nest Egg
2. AARP created more than ten “10 best places to live” lists including
- Places to Live on $100 a Day
- Great Sunny Spots to Retire
- Most Affordable Cities
- Charming Small Cities
- Terrific Cities for Singles
3. Forbes published its own list of 25 best places to retire in 2014
4. Money magazine posted this “best 10” list for 2013
5. Kiplinger created a “10 great retirement cities in the US” list (when you click this link, select “Retirement” in the “View by Category” drop down menu of slide shows)
Where will you make the best of the rest of your life?
Dee
Dee Cascio
Author, speaker, Licensed Psychotherapist, Certified Life Coach, Retirement Lifestyle/ReCareer Coach, and Life and Work Transitions Strategies Coach.
The Life and Work Transitions Community
You’ve joined a great group — people who plan to make successful transitions in life and work. May you be inspired to use your strengths and skills to grow in this season and may each transition be your best ever.
Want more help for your life and work transitions?
Check out the Life and Work Transitions Strategies blog
Ready To Retire? Successful Retirement Planning To Make The Best Of The Rest Of Your Life
