Newly Retired: The Ultimate Relocation Guide
As the end of your career draws near and your retirement approaches, you may begin to wonder what’s next. You may ask yourself, “Where do I go from here? What will I do with all of my spare time?” While these questions are completely valid, a more important thing to ask yourself is “Where will I live?” True, many people will remain in their home and conduct life as normal; however, a large number of newly retired ones may decide to relocate in order to be closer to family, to simplify their lifestyle, or to start fresh.
If you are newly retired and contemplating a move, then you may want to consider a few aspects of relocating to a new home or city. Reviewing this retirement relocation guide will help you conduct a successful transition into your new laid-back lifestyle.
Here’s everything you need to consider before the transition.
Why Relocating After Retirement Is a Popular Option
There are many cost-saving and lifestyle advantages to relocating after retirement. As you make the transition to a slower pace lifestyle, here's what you can look forward to:
- Affordability: Relocating to a retirement community in a different city or downsizing to a smaller home can have cost-saving advantages. This is an effective way to adjust your lifestyle to align with the needs of a fixed retirement income.
- Community: When you retire, your kids are likely not to live with you, and you probably don't need a big home anymore. Relocating to a retirement community or a city with other retirees is a great way to make friends and build a social network to stay social and active.
- Manageability: Everyday home maintenance and upkeep tasks can be challenging to manage as you age. Downsizing and relocating after retirement is a great way to commit to a simpler life.
Creating Your Retirement Relocation Checklist
A retirement relocation checklist will look different for every retiree. Before you decide on a retirement relocation or start to look into new places to live, here are four key factors you'll need to consider.
Financial Planning
Retiring will likely mean that you are on a fixed budget. Now more than ever, it is vital that you begin counting every penny. Before relocating after retirement, you'll want to reevaluate your finances. Determine the max amount you're willing to pay for rent, utilities, and everyday essentials with your new fixed income. This will ensure you can find a new city or state that aligns with your new monthly budget.
Medical Care Availability
If you decide to relocate to a new city, then you will need to examine what type of health care the city has to offer. First, you will need to determine what type of insurance you will have post-retirement. Once you have selected your insurance, you will need to check with your insurance provider to see the healthcare professionals that are available to you within the area. By doing this, you will be able to determine if a potential city is right for you and your family. Relocating to a city with very few network providers can easily be a costly decision to make. So, if you want to save money when it comes to medical expenses, then you will need to properly examine your medical coverage in line with what city you intend to relocate to.
Climate and Weather Preferences
Once you retire, you will no doubt want to live in a city where you enjoy the climate year-round. You will need to ask yourself what type of weather you can and cannot tolerate. Do you prefer to live in a warmer climate or something cooler? Would you like to experience an equal balance of all seasons? Are you comfortable staying in a city that is known for hurricanes, flooding, or earthquakes? These are questions that you will need to ask yourself when trying to determine what city you will call home after your relocation. If you have a spouse, you will need to discuss a climate that both of you are comfortable living in.
Proximity to Family and Friends
When you retire, you will have more time to spend with your family. Thus, if you are considering a relocation, then you will need to decide whether or not you will want to live within driving distance of your family. Moving far away to your ideal destination may seem appealing; however, this could also mean that you will be further away from loved ones and have to travel a long distance to visit your family.
Step-by-Step Relocation Checklist
Once you review your budgeting plans and decide on your weather preferences, it's time to start planning your retirement relocation.
Research Destinations
Whether you're looking for an active senior community or a city with year-round pleasant weather, there are countless retirement destinations to consider in the United States and Canada. Every place is different, and so is the cost of living, so you'll want to ensure you can afford your lifestyle in this area before you make the move. When weeding out cities, look at the average price in the housing market, taxes, medical costs, and general everyday expenses. Having an idea about the financial scene in a new city will help you make an informed decision about where to call home post-retirement.
For example, Florida comes up often as the state of choice after retirement; however, there are numerous other states and cities with a low cost of living that you should consider. Properly researching all of your options will be instrumental in selecting the best city to live in following your retirement.
Evaluate Housing and Property Options
Next, you'll want to consider the type of home you want to live in. If you're planning to downsize and move into a place that's more manageable, you'll want to explore condos and apartments in your next retirement destination. If having a social network with activities is your top priority, consider looking into retirement communities. Retirement communities can be more expensive but tend to have resources and amenities that make it easier to make friends after relocating.
Consider Healthcare Services and Insurance
If you're moving to a new state, you'll want to look into the healthcare services and insurance options for your area. Moving to a new place means you might need to get a new primary doctor or completely switch insurances. It also means that your insurance costs may increase. Before moving, explore the different insurance rates and providers available. You'll also want to know how accessible hospitals, urgent cares, and specialty services are in the new retirement relocation. Once you're set on a new destination, you'll want to find a new primary care physician who has availability for new patients.
How Retirement Relocation Services Can Make Your Move Easier
Whether you're moving down the street to a condo or across the country to be closer to family, relocating after retirement is never easy. When you hire a moving company, the heavy lifting is done for you. Movers will help unpack, pack, load, and transport your items, so you don't have to. With their hands-on assistance and professional guidance, you'll have more time to focus on preparing for the big life-changing transition.
Request a free, no-obligation quote today from Allied Van Lines for more information about our retirement relocation services.
Best Places to Consider for Retirement Relocation
Can't decide which retirement relocation is right for you? Here are five popular destinations in the United States.
Goodyear, Arizona
- Affordable retirement communities with activities and amenities
- Great year-round weather
- No taxes on social security benefits
- No taxes on retirement income
- Great healthcare network
- Close proximity to beaches and outdoor recreation
Virginia Beach, Virginia
- Affordable cost of living and no taxes on retirement income
- Pleasant year-round weather
- Tons of outdoor recreational activities
- Low cost of living and affordable housing
- Affordable healthcare options for retirees and seniors
- Great option for retirees looking to settle in a city
Loveland, Colorado
- No taxes on retirement income
- Close proximity to nature
- Affordable housing and retirement communities
If you are approaching retirement, then you will likely have a lot on your plate. This retirement relocation guide will put you on the right track to help you make important decisions about your relocation after retirement.