#317 - Where to Live in Retirement: Experiment and Decide

Over the past several episodes we have been discussing how to decide where to live in retirement. After listening to the previous episodes in this series, you have been able to acknowledge your own status quo and build a framework to decide the kind of place that you want to live in retirement. Now is the time to experiment and decide what makes the most sense for you and your situation. Listen in to hear different ways you can experiment and choose the right place to retire.

“Listen in to hear different ways you can experiment and choose the right place to retire.”

Is the grass really greener somewhere else?

All this talk of packing up and moving can get you ready to pack your bags and drive across the country to start a new life. But before you do that, think about if that is what you really want. Our thought experiment is really meant to get you thinking. So now examine where you are right now. What would happen if you decluttered the house or even remodeled it? Would it feel more liveable? What if you reexplored your own city? Check out the museums, parks, and trail systems. You may find there is more to love than you thought.

How to experiment and decide where to live in retirement

How do you know where to even begin? Deciding the right place to retire can seem like a daunting task, but just like any other research project, you can start with the internet. Think about the aspects of a place that are important to you to get a profile of what you are looking for. Country or city? Beach or mountains? North or south? You’ll also want to think about factors such as affordability, proximity to airports and family.

“What if you reexplored your own city? Check out the museums, parks, and trail systems. You may find there is more to love than you thought. ”

Keep your ear to the ground

Once you find a place that intrigues you start chatting with friends and colleagues about that location. Keep your ears open and you’ll hear plenty about that place. Another way to investigate places to live in retirement is to test the waters. Use your vacations to explore the places you are thinking of. Instead of buying a new place right away consider renting for a year to see if it’s somewhere that really suits your needs.

Test the waters

Remember the whole point of this exercise is to have you analyze your status quo to see if it will still fit your desires in retirement. After doing this you may find that you are exactly where you want to be. So build your framework and put it to the test. Test the waters to see what may work for you. Continue to flush out your living profile to research and experiment on where you are thinking of settling. Try booking a vacation there or testing the waters. This will help you decide what is right for you.

“Once you find a place that intrigues you start chatting with friends and colleagues about that location”

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

WHAT DOES THAT MEAN?

[2:00] What is huzzah?

PRACTICAL PLANNING SEGMENT

[3:00] Is the grass really greener somewhere else?
[7:44] How do you research and explore
[11:45] How these decisions are made in my home

Q&A SEGMENT

[17:45] How to evaluate when you will be ready to retire
[25:35] Should you hold onto a stock?
[30:55] How to protect yourself against identity theft when working with a planner?