Where To Retire?
This is an extremely personal decision, based on family, personal goals, likes, hobbies, etc. However, how much should economics play in this decision? For some couples, it’s everything, because they have priced themselves out of California, even though they would really like to stay. States that fare best are Nebraska, Missouri, South Dakota, and Florida. We know, from a west coast perspective, that Arizona and Nevada are also attractive. Many people use their home as their only investment vehicle, therefore, they must sell high, and leave to a market boasting a much lower median price and stretch their equity for their other retirement needs. Some people use their home as an ATM, and must sell and leave the state because they settle their debts and have nothing left. Perhaps, the wisest information would be to get a financial planner, diversify your holdings, save as much as you can and plan for your retirement for the state you want to be in, not NEED to be in, as time goes on. If you do wish to stay close to the beaches, desert, mountains, theatre, fine food, and bike trails, hiking and sunshine, buckle down now and plan.