By : Brionna Kennedy
It seems as if a new article about the best places to retire surfaces everyday on the news. Beautiful vistas are shown with either blue waters surrounding sandy beaches or majestic mountains towering over windswept plains. It’s enough for anyone to want to consolidate their 401K and tell the boss good-bye. But once reality has set in, several factors pop into mind that need to be considered before making that final move. Here are some things to think about before you decide where to live in retirement.
How much a retiree will be making in retirement is probably the biggest factor in determining where to live. Retirement income is based on how long a person has worked, whether a pension is received, if investments will be used immediately, and how long it is before Social Security is collected. Since retirement income is usually less than what people made while working, adjustments to living costs have to be considered and may impact where a person is able to live. If a retiree currently lives where expenses are high, then moving to a less costly place may make sense.