Financial benefits
There are many reasons for moving, but most are likely finance related, such as finding a city with a lower cost of living, downsizing to a smaller house, and choosing a state with lower income tax. Other reasons may be to enjoy milder weather, to be closer to family, or to avoid such things as yard care, snow removal, and walking up and down stairs. Also, a state with a lower income tax rate means more available income for retirees. For those who don’t have adequate income from Social Security and pensions, finding ways to reduce expenses are crucial, says the All State Van Lines Relocation team.
Health and safety
According to All State Van Lines Relocation, a city’s crime rate also needs to be taken into consideration when moving, and not just for retirees. But since retirees tend to spend more time traveling, moving to a low-crime area might result in greater peace of mind.
Health-care needs should also be evaluated when moving since aging citizens tend to need increased care. Retirees should pick a region or city where they won’t have to travel far to receive quality health care.
According to a recent survey by Del Webb, one-third of baby boomers plan to move during retirement. Cost of living and health care were mentioned as the most important considerations in selecting a new location.
