Where you live is one of the most important retirement decisions you will ever make.  It affects everything.  What goals you can accomplish, your lifestyle, how much money you’ll need to set aside in monthly expenses…all of this will be impacted by where you choose to live.  This is not a decision that has to be made immediately, of course – but it’s definitely something you will need to think about sooner or later.  And the sooner you think about it, the sooner other parts of your retirement will come into focus. 

Many people daydream about living on the beach in retirement.  Others just assume they’ll stay where they currently are.  But this year, resolve to actually start planning where you’ll live.  You can begin by asking yourself the following questions:

1. Do you like the climate of the city where you live now or are planning to move to?  Very few people want to shovel snow during their golden years, but you may not want to live in an area with high temperatures and humidity either.
2. What is the cost-of-living and the property-tax rate in your area, or the area you’ve always dreamed of retiring to?  Many a retirement has been ruined by not considering everything that can impact spending.  Moving to an area with a lower cost-of-living can be an easy way to get some extra mileage out of your retirement income.
3. Are the housing prices within your budget? 
4. Is there good health care within a reasonable distance?  This is a concern that grows with time.  It might not seem like a big issue at 65, but by the time you get to 75 it could change everything.
5. Does your location offer easy access to activities you enjoy?  Most importantly, does it bring you closer to the people you love?  

Of course, there are other factors to consider.  The point is to start thinking about the issue – it will make all other aspects of retirement that much easier to figure out!