Five Things To Consider When Choosing A Retirement Destination




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Every year, new lists come out highlighting the country’s best retirement destinations. States are ranked based on a variety of criteria, such as healthcare and quality of life, and then given an average retirement score.

 

While these overall rankings can be useful, you may be better off focusing on a few specific criteria that matter to you. Here are five important considerations.  

 

Cost of living

 

This is pretty straightforward. You’ll likely be living on a fixed income, so make sure that you’re living somewhere you can afford. You may also want to see what employment prospects are like, in case you end up needing to supplement your income.

 

How are you going to spend your time?

 

You’re going to have a lot more free time, and you want to enjoy it! Think about your favorite activities, as well as activities that you’d like to do, and pick a place where it will be easy to do them.   

 

Political makeup of neighborhood

 

Whether you’re conservative or liberal, you’ll probably be happier with like-minded neighbors. You’ll also want to consider how your local and state government will affect you.  

 

How easy will it be to see your friends and family?

 

This could be your most important consideration of all. Are the people you love within driving distance? If not, are you near an airport? As tempting as it may be to live in rural South Dakota or Iowa, your friends and family may not visit often if they have a hard time reaching you.  

 

How easy will it be to move?

 

You won’t want to think about it, but you’re going to keep aging after you’re retired. As you age, your needs are going to change, and the place you initially picked to retire may no longer suit you.   

 

Remember, even if a state shows up on a list of best states to retire, if it doesn’t line up with these considerations, it probably won’t be the right place for you. If you find a place you’re interested in, try to visit a few times before making a decision. Most importantly, trust your gut - if you don’t feel comfortable, don’t retire there.

 



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