Where to Live After Retirement

Living a life after retirement starts at deciding where to settle for the rest of your life. You may want to stick in to your home city, but deep inside you know you want to breathe fresh air or have a wonderful time on the beach that your city may not have. Whatever you decide, you need to weigh in several factors that ill help you make sure that you made the right decision.

Your own lifestyle – How you like to spend your days is a big factor to consider when deciding where to live after retirement. If you like skiing during winter or simply prefer the cold weather, living in a warm environment may not suit your lifestyle. A fascination for art galleries and museums may not be good for a fellow living in a remote rural area. You may also want to live closer to your family so you do not have to travel very far when visiting them.

Health care programs – Health issues are becoming more important to you, so you need to reside in a place where there is a health care facility and physician who can take care of your needs whether or not you have an existing condition. If you feel you are healthy enough, you may just need basic health care.

Housing and real estate – If you are planning to live in a condominium or a retirement village, you need to choose an area that has this type of housing available. You may also want to retire on country farm for a change of environment, but consider if the land is suitable for farming (just in case you get interested with it).

Weather – You want to be happy with the climate. If you do not like living in hot weather, the likes of Arizona or New Mexico would not be suitable for your taste. If you do not like cold and snowy weather, avoid the northern states. If you hate getting hit by hurricanes, the southern states would not be a good place to live. Decide what climate you can tolerate and look for a retirement home within that geographic area.

Taxes – No matter where you live after retirement, you cannot escape from paying taxes. Most states have an income tax, but there are some that do not tax retirement income or social security. Real estate taxes are applied in most states, but some have a homestead exemption that will lower the taxes for some individuals. Some states have personal property tax that can be quite costly if you have plenty of property subject to tax. For more information, visit the web site of the state you choose.

 

Posted by Ardent Editor on Jul 24 2008 in Retirement Life

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