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November 20, 2017

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A few years ago I moved to Socal after three decades in silicon valley in order to retire close to family. My employer wanted to keep me awhile longer; they arranged for me to work remotely part-time, so I guess I'm not really retired per se. Where I landed wasn't really my choice, but I'm happy here because I think the temperate climate year-round is worth the moderately high cost (housing and income taxes).

I'm a lifelong renter but I'd buy a place with exactly the right location. I don't care so much about size, layout, or even price, my objective is living where almost everything is within walking distance so I can drive less than 1000 miles per year. So far only my current apartment fits the bill. I'm hoping they'll do a condo conversion soon, and I've been looking at new listings every month.

I'm not into travel right now, but if I want to later, my place is a good choice because it's on a bus line with relatively easy access to the airport and train stations.

The stat about not expecting to move in retirement is interesting. It seems retirees are no different than everyone else; people seem to consistently underestimate how often they'll move.

It makes sense. We're notoriously bad at predicting our futures, and we seem to have a habit of overrating the present. We imagine things will never change. Then, of course, they do.

Really insightful stats, thanks for sharing, FMF.

I'm surprised they move into bigger homes. Upon my retirement I was expecting the opposite really. Something smaller and more manageable in terms of spending, cleaning, mobility as I get older, etc. I'd imagine it'd only be me and my partner and we could cope in an apartment or something of the sort.

Move to a condo you own and start looking now. It make take years of looking to find the perfect property and/or for the perfect property to come on the market (the last two places I've own have been owned previously for 20+ years each). Plus housing -- and rental -- prices are still on the upswing. Rent out the condo now to pay it down and lock in lower property taxes and overall price. I'm doing this in West Hollywood and getting a 16% return. Far better than my stock market investment's 5%.

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