For many workers, retirement represents an opportunity to reinvent themselves.
“A lot of people feel, well, my job is done, and this is my opportunity to have some fun,” says Dr. Gary Small, chair of psychiatry at Hackensack University Medical Center in Hackensack, New Jersey. He adds that a change of scenery often adds to that sense of fun.
While some retirees travel to explore new places, others want to make a permanent change. With no job tying them to a specific location, they may decide it’s time to move somewhere that offers better weather, more activities or a lower cost of living.
Before you make the move, consider these tips for finding the right place to retire:
— Reflect on your preferences.
— Understand your income and expenses.
— Talk to your family.
— Check the weather.
— Know how you’ll get around.
— Find out your health care options.
— Consider the political climate.
— Look into social activities.
— Calculate your taxes.
— Try renting first.
Reflect on Your Preferences
There is no one ideal retirement location for everyone. Some people love city life; others would rather retire in the country. Year-round sunshine seems to be preferred by many retirees, but some want to live in a place that has four seasons.
The key to finding the right retirement home is narrowing down your priorities. “It’s making a list of what’s important to you and making compromises,” Small says.
You likely won’t find a retirement home that checks all your boxes, so decide what you can live without. Also, don’t overlook the importance of small conveniences when evaluating potential locations.
“There are things you may take for granted that make a big difference,” said Nancy Anderson, regional planning director at Key Private Bank in Salt Lake City, in an email. “For example, if you are used to having a Costco or Walmart nearby, ask yourself if you could be happy in an area where these stores aren’t present.”
[READ: How to Retire in Canada.]
Understand Your Income and Expenses
Retirees often see a decrease in their income, which may spur some to relocate for their golden years.
“It’s so expensive to live here, so we’re going to look for places that offer a better standard of living” is a common refrain heard by Richard McWhorter, managing partner and private wealth advisor with SRM Private Wealth in Pasadena, California. He has clients who left California for states such as Texas, Montana and Nevada, where the cost of living is lower.
Wherever you land, thoroughly research the costs — including taxes, insurance, utilities and groceries — to ensure your income will provide a comfortable quality of life there.
Talk to Your Family
Involve your family in the conversation, especially if you have visions of moving to live near an adult child. Not every relationship benefits from living in close proximity. While you may envision weekly dinners and regular visits with your kids, they may have busy lives that make these expectations unrealistic or stressful.
What’s more, your child may move. That happened to one of McWhorter’s clients. They moved to be near an adult child, but then that child got a new job that required them to relocate to another state. That left McWhorter’s client alone in a state where they had no other connections.
Check the Weather
The weather is often one of the primary concerns for retirees who move, and for good reason. As people age, their willingness to tolerate unpleasant weather tends to diminish.
But don’t trade one bad situation for another. You may dislike shoveling snow in the winter, but maybe you’ll despise oppressive heat in the summer just as much. Also, consider what extreme weather events might be likely in an area and decide whether the region’s benefits outweigh any risk posed by flooding, hurricanes, wildfires or other natural disasters.
Know How You’ll Get Around
Look into your transportation options in any potential retirement city. Even if you think you’ll be comfortable driving in traffic now, think about what happens if and when you can no longer be behind the wheel. Is the community walkable or is public transportation available?
Proximity to an airport is another important consideration, according to Anderson. If you regularly fly to visit family and friends or enjoy traveling, having an airport nearby with convenient flights may play into your decision of where to live.
Find Out Your Health Care Options
Quality health care is another factor that is top-of-mind for many retirees. Where you live may dictate how easily you can get specialist care as you age.
Some research indicates that people live longer when they live in urban areas, according to Small. “It seems counterintuitive because people think of urban areas as congested … (and) crime-ridden,” he says, but access to hospitals and specialists may be one reason for increased longevity for those living in cities. More opportunities for social connections may also play a role, Small suggests.
If you have medical conditions, be sure you will be able to receive the appropriate care in your new home. Then, looking forward, anticipate whether it will be easy to meet your health needs as you age.
[Read: How to Retire in France]
Consider the Political Climate
Today’s political climate is spurring some retirees’ moves. “Politics are a big part of their decision,” McWhorter says. People may be looking for a red or blue state, but McWhorter says sometimes people arrive and realize it’s not what they expect. “It’s a different culture; it’s a different feel.”
Even if someone isn’t moving for political reasons, they should pay attention to how government policies might affect their lifestyle.
“Regardless of where your views fall on the political spectrum, consider whether the state and local governments are likely to enact legislation that you would agree with,” Anderson says.
Look Into Social Activities
Leaving the workforce can mean the end of regular, predictable interaction with others. “A lot of people don’t appreciate the social connectedness they feel at a job,” Small says.
Once they quit, they may no longer have regular lunch partners or opportunities to chat with others. Add in a move to a new location, and you may risk isolating yourself.
“For these reasons, many people opt for retirement communities,” Small says. Many communities offer a long list of activities that make it easy to meet new friends and keep active physically and mentally.
If you prefer to live elsewhere, be sure there is ample opportunity to meet people and enjoy activities of interest to you since social connections are a crucial component of a happy retirement.
Calculate Your Taxes
Some people choose retirement destinations such as Florida or Nevada with no state income tax. However, states without an income tax may have higher property or sales taxes. Be sure to calculate your total expected tax expense before moving.
Those considering a move should also weigh the cost of taxes against other factors. “If you love the ocean, you don’t go to Arizona just for the (low income) taxes,” McWhorter says.
[READ: The Most Tax-Friendly States for Retirees]
Try Renting First
No matter how good a location looks on paper, it is never wise to move without spending considerable time there first.
“We think it is a good idea to rent before you buy,” Anderson says. “This will allow you more time to discover neighborhoods and available homes in different parts of town, and it will be easier to move again if your choice doesn’t turn out as well as you hoped.”
McWhorter says he has seen some clients move away, be dissatisfied with their new home and then find it was financially unfeasible to return.
“People find things that they don’t like and think it will be different somewhere else,” McWhorter says. But then it isn’t, and they are unable to move again.
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10 Tips for Finding the Right Place to Retire originally appeared on usnews.com
Update 11/19/24: This story was published at an earlier date and has been updated with new information.
