Alternative retirement locations were historically not seriously
considered by retirees. According to census data, less than seven
percent of people older than fifty moved to an alternative location for
retirement as recently as 2004.
The recession changed all that. A research project by AARP found in 2009 that the seven percent of 2004 is likely to be tripled to at least twenty one percent or more. In other words, less than 79% of new retirees want to stay on in their homes after retirement. However, the reality of the current state of the economy is that it would be difficult to get a fair price for your home in the short term.
But the same downturn in the economical cycle offers an opportunity to retirees: Property in many preferred locations are still available at reasonable prices. And these locations are invariably more tax friendly and thus more attractive to retirees.
When you decide to relocate during retirement your choice of location would be influenced by various factors. When I retired in 2001 we were living in Southern Switzerland on the shores of Lake Lugano - to us, the most beautiful, peaceful, and orderly spot on earth for retirement. We became perpetual travelers and spent quality time in many small and virtually unknown communities in Switzerland, Italy, and France.
However, after eight years of retirement in this idyllic setting, we became aware that we were missing our home country! We missed our children and grand children. We missed our friends and family. We missed our language and our church.
We didn't want to return to the city that was our former stomping ground. It became too fast and hectic for our retired lifestyle. We decided to relocate to a more rural setting were the pace is slower but where life's comforts and care are within easy reach. And an international airport thirty minutes' drive away!
Adapting to a new community is a challenge when you are set in your ways, but you can't call it boring either!
In fact, it is my opinion that you should consider an alternative retirement location for your retirement. It could be quite invigorating and rewarding compared to the easier route of staying right where you are!
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