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When you retire, things get turned upside down. As I’ve mentioned often enough in other articles, you need to come up with a new definition of yourself, and that definition is pretty much wrapped up in what you plan to do in retirement. Are you looking for a stress-free life, personal or intellectual development, some type of work, etc.?
Once you figure out how you will live, you’ll also need to figure out where. This can be a little tricky. One type of environment might not satisfy all facets of the new you. Life is so much easier when you’re shown what to do and how to be, like when you were working.
Lots of people struggle with finding the right place to live. You can go for hassle-free, a quiet little town or somewhere out in the country, but you might find there’s not enough to do. You can go for big city, but then you have all the traffic and expense. Maybe you want to downsize to a condo, but you might have to give up some privacy and outdoor living space. What best suits you depends on your priorities.
Here are a few other considerations. First off, you really shouldn’t decide on where to live until you’ve been retired for a year or two. Before we retire, we can overestimate the value of the seemingly wonderful options – traveling or whiling away the hours on a beach in the tropics. But when the job and its stresses are gone, your perspective changes and you don’t need escapes. So, a hasty move that seemed like a good idea early on might not turn out to be so wonderful after all.
Two studies demonstrate this point. One conducted in 2009 found that retirees who tried to move to paradise — an area with warmer climate and more recreational facilities — were less happy than they expected to be. But retirees who focused on practical elements, such as easy access to medical services, daily conveniences, or proximity to friends and family, felt happier and more at peace. An earlier study, conducted in 1980, focused on travel in retirement and showed that retirees did not enjoy traveling as much as they had expected to after they retired.
As another consideration, some may think they want to live near their kids and grandchildren. That’s understandable — who doesn’t love their grandchildren? But keep in mind they do not share your lifestyle, and what’s important to them won’t be what’s important to you. They’re trying to build their lives, raise a family, achieve some level of financial security and success. You, on the other hand, should be more interested in having fun — or, if that sounds too flippant, in doing the things that matter to people after they have achieved the goals their children are still striving toward.
Instead, the right place to live should offer a balanced social life — one that includes equal parts family and friends. Friends and acquaintances add meaning and value, create a sense of belonging, help to reinforce your identity, validate who you are, and are a refuge in time of need, not to mention giving you something to do.
So, wait until the honeymoon wears off before making your decision as to where to live. Then take into account cost of living, social options, availability of things you like to do, health-care facilities, and daily living conveniences in making your decision.
You may ultimately opt for a tropical climate and beach lifestyle, but you’ll come to that from a more grounded perspective and realistic set of expectations. And if the place you pick offers social opportunities and lots of conveniences, and happens to be near your kids, great; if not, well, that’s why they make planes.