Exact matches only
Search in title
Search in content
Search in comments
Search in excerpt
Search in posts
Search in pages
Search in groups
Search in users
Search in forums
Filter by Custom Post Type
Filter by Categories
Featured
Health Care
Healthy Lifestyle
Income
Insurance
Investments
Personal Finance
Protection
Retirement
Taxes
Uncategorized
Your Financial Life
By Catherine Collinson / Jul 13, 2016

Where to Live in Retirement?

TCRS2015_I_WhereToLive Retirement brings freedom and unlocks a whole new realm of possibilities. One of the most exciting questions retirees get to ask themselves is: where do I want to live? Do I want to stay put or move? What type of town or city would I like to live in? The possibilities are endless.

A recent survey of 2,000 retirees by nonprofit Transamerica Center for Retirement Studies® finds that the vast majority of retirees are enjoying life and many have made changes in their living arrangements; 39% have indeed moved since they retired. The most frequently cited reasons include: downsizing into a smaller home, reducing expenses, starting a new chapter in life, moving closer to family and friends, and a change in marital status.

Driving their decision making most often is proximity to family and friends. Another driver is an affordable cost of living. This makes sense since retirees are seeking to make their savings last their lifetimes. Other less frequently cited criteria include access to excellent hospitals and healthcare, a low crime rate, good weather, and leisure and recreational activities.

To learn about the best places for retirement, there are a lot of terrific, free online resources:

Deciding where to live is a huge decision; we recommend that you do your homework. If you are thinking of moving, learn everything that you can, ranging from the cost of living to access to healthcare and everything in between. Start by researching online – and be sure to visit in person and spend some time there. It’s a lot less expensive to visit a place for a short time to really get to know it versus the cost packing up, moving, selling your home, only to find out that it doesn’t live up to your expectations or wasn’t what you wanted after all. It’s your retirement after all. You want to be sure to enjoy it.

To listen to the full podcast, please click here.

 

Catherine Collinson serves as president of Transamerica Institute® and Transamerica Center for Retirement Studies®, and is a retirement and market trends expert and champion for Americans who are at risk of not achieving a financially secure retirement. Catherine oversees all research, publications and outreach initiatives, including the Annual Transamerica Retirement Survey. She also serves as the executive director of Aegon Center for Longevity and Retirement.

Transamerica Institute® is a nonprofit, private foundation dedicated to identifying, researching and educating the public about retirement, health coverage, and other relevant financial issues facing Americans today. Transamerica Institute comprises two divisions: Transamerica Center for Retirement Studies® and Transamerica Center for Health Studies®. Transamerica Institute is funded by contributions from Transamerica Life Insurance Company and its affiliates and may receive funds from unaffiliated third parties. For more information about the Institute, please refer to www.transamericainstitute.org

CCWTLR0616