"WILL
I WANT TO MOVE WHEN I RETIRE?"
Stay here? Go There?
You love your riding lawnmower now…but
your interests may greatly change! Instead of cutting the grass,
you may want to explore more interesting goals!
There are those who desire to "downsize" and move who
end up with a plus…moving to a less expensive area may balance
the economics of retirement! For instance, moving from Myrtle
Beach, South Carolina to the charm of Alex Haley's hometown of
Halls, Tennessee, may put that extra cash in your pocket to bridge
the revenue gap.
The healthier "baby boomers" among
us are not entertaining traditional retirement plans. Over 65%
of them plan to continue in the workaday world; others will pursue
educational endeavors or start a new business or career. Make
sure to research whatever possible "far away place"
in your day-dreaming provides accessability to the activities
in which you wish to participate, as well as the tax rate and
living costs you desire. Consider the following:
- The AARP says that statistics indicate that
over 84% of individuals over 55 decide to stay where they are.
Roots are often planted deeply.
- Consider what's being called a NORC (Naturally
Occurring Retirement Community)! A NORC happens when folks either
"stays put" where they have lived their lives, prompting
other retirees to move there, making it a retiree's area, but
with new neighbors. On the other hand, oftentimes retirees from
one area will follow friends to another area, perhaps out-of-state,
and start anew there…with the great plus of familiar faces.
- Want more one-on-one? Would an active adult
community which totally frees you from yard duties appeal?
- If you're into academics, many state colleges
have policies of waiving tuition for seniors…with the qualifying
senior age starting at a much younger age level than you may
imagine!
- Make certain to do your research well…It
may be the best move for you; however, make it your best-planned
move. Get online and check out online newspapers in the area
that appeals to you!
- WORD TO THE WISE! Take the time to
visit several times a year in different climate conditions!
"How Much Will I Really Need?"
Financial planners have been cited as considering
80% of pre-retirement income being needed during retirement years.
Other sources consider this figure far too high, as oftentimes
the retiree's home is paid for, and their "nest" is
empty. The key is that it depends on how much income you have
had, with more conservative figures being between 40% - 65%. In
short, it depends on how much positive pre-retirement planning
you did and what your goals and needs are when you do retire.
Keep in mind that a happy and comfortable retirement
is not all about money; in fact, it is only one of many factors.
Your health and activity level, ongoing curiosity and desire to
continue learning, and good family relationships are just as important!
Boredom is quickly overcome by these factors, especially if your
work interest continues and you become a "part-timer."
Do not forget what makes life enjoyable…for life doesn't
end with retirement!
"WHERE'S THE BEST VALUE?"
We all want certain options. Make sure what's
top on your list! Is it great health-care facilities close by?
Lots of outdoors activity? Night life? Here's some interesting
facts:
- Las Vegas, Nevada is one of the least expensive
areas yet…for residents, that is. A bonus is that the Rockies
and California are just hours away.
- Sun-worshipping retirees
in California, Arizona, and Florida are experiencing significant
increases in living costs. As a point of interest, New Mexico
is getting retiree overflow from Arizona!
- Want to stretch your
dollars? Tennessee is up there at the top, with Oregon, Georgia,
and North & South Carolina!
- Have to hike and
bike as well as hunt and fish? Perhaps Arkansas will appeal
to you!
- Almost 3 million
American retirees live overseas, enjoying tax incentives and
inexpensive real estate. "International Living" states
that Belize has the most inviting retirement tax benefits abroad.
It further cites that Central America has been losing its appeal
due to political unrest and governments not restoring essentials
such as roads after hurricanes or other disasters caused by
inclement weather. Taking vacation tours can serve to open your
horizons to all the nuances of the country which may be interest
to you.
AARP's
MANY RESOURCES
Regardless of your age, check out
American Association of Retired Persons' site below. It
provides invaluable retirement planning advice on virtually every
aspect of retirement-related issues, including legal concerns,
health planning, with issues regarding family issues discussed.
The AARP Guide to Internet Resources Related to Aging abounds
with information.
"Best
Value" RESOURCES
| HERE! |
|
| Information about
the Individual States |
www.census.gov/statab |
| AARP site |
www.aarp.org |
| "50 Fabulous Places to
Retire in America" |
by Ken Stern |
| "Retire and Thrive" |
by Robert K. Ottenboug |
| "America's
Best Places to Retire" |
editor, Richard
Fox |
| THERE! |
|
| Overseas
Research |
www.escapeartist.com
(has links to International Living & Foreign Embassy websites) |
| Overseas Research |
John Muir Publications |
E-Mail: SeniorsManagement@1stopmortgage.net
