Planning for Retirement: Stay or Move Out

man sitting outdoors by the lake

Once you retire, you will have more time in your hands than ever before, which makes it essential to decide: will you stay at your current home, or will you move out? Each choice will make you face various situations that might not be to your liking. You have to be careful in choosing the best option for you. Staying put means you can remodel your house and live your days somewhere familiar. Living somewhere else with the help of a moving company in Florida means you can downsize or stay in the place of your dreams.

What Do Other Retirees Do?

Statistics can help you understand the context behind the decision you have to make. According to a study, 36% percent of retirees chose to live at home. Similarly, 37% of retirees have already changed their residences, and 27% more are planning to move. The scale tips slowly in favor of moving, but you can discern which choice will be best for you and your spouse if you have one.

Why Move at All?

You might be wondering why moving is even a choice when you want to relax upon retirement. You can stop worrying since you can easily hire a moving company. Moving also makes sense when you want to live your retirement differently from the life you lived in your current home.

Activities for Your Days

group of seniors doing water aerobics in the pool

Now, you can ask yourself several questions to help you decide. First, what will you do? Take notice of your hobbies and passions and choose where to live accordingly. Your family or friends can also be a factor. You can spend more time with your family if you stay where you are or if you move near them. Otherwise, you can enjoy living someplace else, meeting new people, and growing your social network.

A Home for Your Retirement Life

Next, how will you live? Staying put means staying in your home, but moving opens up some choices. Will you rent? Will you buy a new house? Will you downsize or upgrade? Upgrading allows you to live more luxuriously, and downsizing cuts down on costs and home responsibilities. Renting, meanwhile, helps you be mobile, especially if you are unsure about where you set down roots.

Care for Your Body

For the third factor, can you access medical care? Once you retire, you will already be in your advanced years, and your body will be prone to sicknesses and injuries. To take care of yourself, you can choose a place where you can easily access medical services.

Finances for Your Retirement Plan

Finally, can you relocate or stay where you are? Take stock of your finances and retirement funds to see if you can live in a city with high costs of living. When you plan your spending, you can afford to live somewhere expensive for ten years. After that ten years, you can move to a cheaper location and still have enough money for yourself.

Will you move, or will you stay? Ask yourself the questions above so that you can look forward to your retirement.

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