Free Ebook.


« Where Do You Put Your Extra Money at Home? | Main | Are Dividend Stocks Good Investments? »

February 29, 2012

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Why choose just 1 place for retirement? We are in Thailand now, but in 5 years we will likely move on to another warm inexpensive country. Or maybe we will come back to the States for a few years. Moving these days is pretty easy and it isn't much more expensive to move around the world as around the country. Of course our strategy does require you to rent rather than buy, so that could be a big negative for some people.

I am so far from retirement age but right now I think I would like a warm low cost place :-) But I agree the kids' location is an important parameter.

Staying near family is a priority for us, so we'll likely retire at the Jersey Shore...we're planning on buying a beach house in a few years.

Most of my family is in Michigan. My parents live in a neighborhood where most of their neighbors are retired (like they are), and the end of their street is deserted for most of January and February. My parents keep an eye out, but it does seem to be a popular trend if you have the means.

I'm retiring within two years, and have only two more payments on my condo. I live in New Haven, CT where there are excellent cultural opportunities, and medical care. CT is an expensive state in which to retire, but my support and professional network are here, and as a single person, that's important to me. At best, I'd rent in Florida for a month to get a respite from winter. I have many friends and some family there. Cheap living isn't everything.

Unfortunately, for us, close to family/friends is not affordable. However, in 30 years when we retire I'm sure things will change.

Friends, family and grandkids are more important to my wife than all items listed above.

Personally I want to move out of this expensive tricounty area,for cheaper taxes,insurance and alike, just far enough away from the kids so we are not a dump and run babysitting service and good quality healthcare system.

I'm extremely far from retirement, but I really enjoyed this post and I think its extremely important to plan ahead so that you can retire comfortably. I want to be in a warm place, and surrounded by family...luckily I'm from Florida so hopefully that can be an option by the time I'm ready to retire.

Being close to family is certainly the most important of these, especially if they mostly live in the same vicinity, but not if you're giving up the rest. If your family all live in a relatively expensive, cold place, with high taxes and not much for seniors to do, it would make more sense to live somewhere that meets half way. I always liked that my grandmother lives just three states away because I knew she loved where she was located in terms of all the things you listed here, and especially because it was a short trip to see all of us.

My experience has been if you have not moved a lot in your career-you're not very likely to pack up and move when you retire! I enjoy my family and circle of friends and Colorado had great weather, unless you're thinking about moving here ;)

I'm about 15 years from retirement. My wife and I are looking to move to our retirement area within 5 years. We currently live in the Northeast and are planning on the VA/NC area for retirement. This will give us roughly ten working years to build a new network of friends and settle in. Not really concerned about being close to the children. I anticipate their careers will force them to move several times throughout their lifetimes. Weather, overall cost of living, access to healthcare and a regional airport within 30 minutes are important considerations. I do care about "culture" but by that I mean good restuarants, colleges that bring in interesting speakers and of course a Costco.

I would also look at the crime rate.

If you're looking outside the USA to retire then there a whole lot of other things to consider. Language, corruption level, infrastructure, etc.

I'd also like to retire in 15 years somewhere warmer and more interesting that where I currently live. Don't want to be bored to death! I'm planning on saving enough to deal with a higher cost of living after I move.

Believe me - Climate matters more and more the older you get. If we had snow and ice my wife wouldn't be able to step outside for fear of falling, let alone drive. Recently with the poor economy the crime rate has also increased greatly in cities such as Oakland and Richmond that contain lots of out of work minorities as well as gang members.

We retired 20 years ago and fortunately didn't need to move because we bought our home in 1977 in the SF Bay Area in the best part of a town of 116,000 people in the center of Silicon Valley close to companies such as HP and Apple, and when prices were very affordable. It's not the cost of food, gas & utilities that's the issue, it's entirely the cost of housing, which is directly proportional to the climate and overall desirability of an area, including availability of jobs. We don't need a home as large as the one where our 3 children grew up but our solution is to just not use three of the rooms.

Number one issue for me is property taxes. I can afford to buy a house in the USA in cash. I want a nice place in a safe area someplace without snow and ice, but I refuse to pay property tax into a corrupt system where no one is doing anything about the waste and abuse of the tax money. There are, in my experience, many such places in the USA.

Income taxes, sales taxes, and most other taxes don't matter: I don't spend much and I won't have report-able income. Another possible issue is recurring taxes on cars - I'd finally like to buy a luxury car but not if the state sees that as a means of taking a few thousand dollars from me every year. My nice car won't cause any more wear and tear on roads than a beater would - in fact probably less - and it would be fully insured.

@goner
I think $2,238 per year is pretty good for property taxes on a million dollar home. That's my situation. It's also at the bottom of a very quiet court, totally safe, and close to all amenities. Our city has an elected city council that does a great job and balances its budget every year. Our roads are in far better condition than the surrounding cities and get resurfaced about every 7 years. My 1991 Mercedes Benz 560SEL is about as luxurious as a car can get, it's in pristine condition and my annual California registration fee is $120 and my State Farm insurance is only $488/year because of my driving record.
You sound like an unhappy person with a chip on his shoulder, I feel sorry for you.

The comments to this entry are closed.

Enter your email address:

Delivered by FeedBurner

Disclaimer


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.

Stats