For Mark Roberts’ Use: When you think about retirement, what do you picture? For some, retirement means a move to Florida, a cozy condo in the mountains, or a tidy home closer to the grandkids. But for many of us, retirement simply means that we relax and enjoy our current homes even more.
A poll by the National Council on Aging discovered that 9 out of 10 Americans over age 60 are planning to stay right where they are, at least for the next five to ten years. Their reasoning fell into the following categories:
- 85 percent said they like their homes and don’t want to move
- 66 percent said they don’t want to move away from family or friends
- 50 percent said they don’t want to deal with the hassle of moving
- 30 percent of respondents don’t know where else they would like to live
- 26 percent said they can’t afford the cost of moving
- 23 percent don’t think they can sell their homes in the current market
As you can see, some retirees are making this decision for relatively “positive” reasons. They love their current homes, and can afford them. Or, they already live in a place they love, near family in friends.
On the other hand, some of these statements are concerning. If you want to move but can’t afford it, or if you simply haven’t investigated other options, you could be missing out. And we don’t want that to happen.
One more thing to remember is that plans sometimes need to change. An illness, family emergency, or other circumstances could force a move. So, we urge you to account for unexpected moving expenses when creating your retirement budget.
We can help you plan for the retirement you want, whether that means moving somewhere else or staying right where you are. But let’s also consider a Plan B, just in case something changes. Continue to meet with us regularly, and we can help you explore all of your options.