It’s official, we moved to Chattanooga, Tennessee where my wife’s family is from. Considering this big move and the fact that I’ve spoken with hundreds of retirees who relocated during retirement, I thought this would be a timely topic!
I’ll unpack some of the main reasons I see people relocating during retirement including;
- the weather
- lower cost of living
- lower taxes
- healthcare
- family
- politics.
The reasons I hear are good ones, but make sure you find a tight-knit community. Every study I read on this topic points to a close social community being vital to maintaining health and happiness during your golden years.
I will also encourage listeners to be open to the possibility of change and to prioritize their physical, mental, and financial health in retirement. Nothing has to be “set in stone” in terms of where you move initially. You can always “try it out” and decide on the long-term plan after a year or two.
Takeaways
- Relocating in retirement can offer opportunities for a change in lifestyle and a lower cost of living.
- Factors to consider when deciding to relocate include the weather, lower taxes, healthcare options, proximity to family, and political climate.
- It’s important to build a sense of community and find like-minded peers in the chosen location.
- Relocating doesn’t have to be permanent, and it’s okay to try out different areas before making a final decision.
- Prioritize your physical, mental, and financial health in retirement.
Links
Social Media:
Referenced in Episode:
- AARP Article – Reasons to relocate
- Smart Asset article – Best states to retire for taxes
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