11 Reasons Why You Should Retire Where You Live Now
Category: Retirement Planning
May 22, 2021— More than three-quarters of baby boomers won’t move more than a few miles away from where they live now when they retire. This article will explore the case for sticking close to home in the next phase of your life.
There must be plenty of strong arguments for staying put, since so many of us do just that. Here are some of the major ones, along with ideas on how to make that decision work.
– Family. Staying close to children and close relatives is often the best reason for retiring where you live now. Grandchildren, if we are fortunate enough to have any, are usually a great source of joy, but without all the work associated with raising our own children! So sticking close enough where you can see loved ones without a long drive or plane flight will be a regular source of happiness. In the past Covid year, those extended families who lived near one another had a big advantage many others did not.
Comments on "11 Reasons Why You Should Retire Where You Live Now"
RichPB says:
As I said in my "Crazy Home Prices" response, being very practical, for many or most of us, today there is almost no way to sell (even a very special house) and re-buy new or even pre-owned with downsize and still make a profit. So why move -- especially if you're happy where you are and can manage retirement costs. The chances of being just as happy in a new place are quite slim.
Clyde says:
If you are fortunate to own two places, such as many snowbirds do, you can decide to sell one and live in the other full time. One of these is likely your home you lived in for a long time, and in an area in which you have an established community, etc. That way you can sell at current high prices - likely with a nice profit - and not have to worry about finding another place to buy, also at current high prices.
Mark says:
After an Army and Civil Service career of 44 years that included 23 moves enough cannot be said about having a well-documented medical history and network providers. Here's an example: if you've had a knee or hip replacement and the device is recalled, how will your former physician find you? Also my wife and I have had care-giver responsibilities for parents and a grandparent. Before a move is considered a difficult but necessary conversation is needed with adult children you are planning on possibly moving away from.
Sandue says:
After spending several years looking for the perfect place to retire, we realized that we already had most of the things we were looking for.
We moved eight miles from a large home on five acres that we designed, built, and lived in for 26 years. The things that attracted us to our former home were no longer fun. Our new home is smaller and simpler, but cost a bit more than we realized from the sale of our former home, but worth it. We continue to use the same doctors and medical practices-- important because doctors retire too.
We like our new home and neighbors and are able to see our former neighbors often too.
This worked for us, but everyone has to decide what's best for them.