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A few weeks ago I wrote about relocating upon retirement and concluded it isn’t for us.
This summer we are getting to test that conclusion. We are spending the entire summer at our place on Cape Cod, which means several months away from our routines, church, friends, golfing buddies and mostly family. I suppose if we moved here we would become accustomed to many things, but not being six hours away from family, let alone a three hour plane ride, if, as many friends have done, we moved to Florida.
Our daughter and family came for 10 days, but they left – with their 80 lb dog who I also miss. One son and family are coming in August for a week. Two other families don’t come because they don’t like the drive.
Relocating out of financial necessity is one thing as is the quest to be near family, but beyond that it takes serious consideration in my opinion.
I’ve heard people say it’s about the weather, but the reality is no matter where you go, there will be weather issues of one kind or another at some point in the year, cold, snow, extreme heat, (it’s 109 in Phoenix as a write this and 96 in Lakeland, FL) hurricanes, tornadoes, drought – except maybe Hawaii, but then you might find lava in your backyard 😢
Several friends and relatives have sought the best of both worlds. They have homes in NJ and condos in Florida and have become Florida residents thus avoiding NJ income taxes, but increasing the weather risk and paying outrageous premiums for property insurance. One friend just sold his condo in Florida after the ocean spent time in the building lobby for the second time – but others didn’t seem to care, it sold quickly.
One person in NJ told me they moved to Florida to avoid inheritance taxes, but neither state has such a tax applicable to family members and charities. I hope that wasn’t their primary goal.
Moving is a big deal anytime, but relocating to another state on top of the life changing event of retirement is a bigger deal I would think.
Roughly 25% to 33% of retirees move after retiring, according to studies by the U.S. Census Bureau and retirement-focused surveys (Center for Retirement Research at Boston College).
The majority of retirees who move tend to stay within their current state, often downsizing or moving to more affordable or accessible housing. About 15% of movers choose to relocate to another state.
What are your thoughts, plans about relocating upon retirement? And if you have already relocated, how has it worked out? Was it the change you expected?
Relocating to a new CCRC. What do you call it if we’re moving 10 minutes from our home? “Aging in a different place?”
I thoroughly enjoying reading your posts Dick. So we’re in our mid 60’s, retired for four years now, but my elderly in-laws are still alive and my wife is their primary care giver. As a result we are “stuck” in Hawaii, but we’ve been here for nearly 50 years. Both us came here as teenagers in the 1970’s for different reasons. Since then we’ve raised two children. However, they along with our four grandkids live in TX and VA. So Lord willing our plan is once the parent’s expiration dates are up we plan on moving. Looking to live approximately equal distance between our kids, perhaps in Winchester, TN, although we’ve never been there, but who knows we’ll just have to wait and see. As for lava in our backyard that will never happen and the weather 99.9 percent of the time is like “paradise”. 😎
Living in Paradise already. Where to go? My son moved to Nashville, TN, from SF. Now lives in Puerto Rico. He was a mediocre musician in Tennessee, but he’s a rock star in Puerto Rico.
Yup, tried Nashville as a drummer. Found out quickly those studio guys are incredible. Tons of competition. Fled back to Georgia, LOL.