Dwelling Debate: Where To Live Once You Plan To Retire
Dwelling Debate: Where To Live Once You Plan To Retire
September 21, 2022
Once you’ve finally made the decision to “retire” (or at least transition to a different type and style of “post-retirement” work), your priorities for living- be they cost, quality of life, leisure time, or something else- may lead you to decide it’s time to move. Maybe you want to prioritize a physically active lifestyle, or perhaps you want to dive into culture and fine cuisine dining. Or maybe your concerns are the cost of living or exploring new cultures? Well a whole host of new suggestions and recommendations, based on data collection and current trends, may help you refine and finalize your own decision.
First, let’s consider this: Do you stay or do you go? That is, stay in the United States or take the opportunity to explore new countries and cultures? Marketwatch recently posted a list of the best countries for retirement security, noting that the United States is quite low on the list. Using analysis from the global asset manager Natixis, Marketwatch named Norway as the number 1 country for retirement security, along with other Scandinavian and Germanic countries in the top tier. Apparently, Scandinavia has wisely invested in its national pension system, thereby providing more resources to retirees. If instead, your priority is safety, then Yahoo has a list of the safest places to retire outside of the United States. Based on information from the Institute for Economic and Peace and the Global Peace Index, Iceland is your number one spot for safety, followed by New Zealand, Ireland, Denmark, and Austria. Where does the United States fall on that measure? Down at number 129. Finally, if you’re looking for an overseas adventure without the discomfort of learning a new language, US News has a list of the best places to retire where English is spoken. (Not surprisingly, many of the countries listed- such as Belize and Barbados- are former British colonies.) Other countries on that list include Cyprus, Ireland, and Malta.
Staying in the United States, there are lots of “best of” lists. For example, Forbes created a new list of the best places to “enjoy” your retirement in 2022, emphasizing hobbies and leisure activities rather than affordability or health care options. Whether you’re looking for lifelong learning, golf, arts, or food, this list covers options across all 4 time zones and 16 states. So put out the “for sale” sign and look here. If, on the other hand, your top concern is affordability, then take a look at the recent list provided by CNBC, based upon Bankrate analysis. Curiously, despite its popularity and low tax rates, Florida doesn’t make the cut. But if you’re interested in Michigan, Missouri, or Mississippi, then this is your list. If we want to further narrow down spots in the US, The Street has a new list of the top cities where baby boomers want to retire, based on data from Homebay.com. The number one choice is New Orleans. Supposedly, this list gives high priority to such factors as health care options and the cost of health care premiums. Other cities on the top of this list are Birmingham, Louisville, and St. Louis.
Finally, if you’re not yet ready to move but just want to try out some travel ideas as a way to spark your wanderlust, consider these suggestions from Holidu, a German-based travel search engine that has developed a list of the 5 best cities in the world for baby boomer travelers. Identifying access to nature and fine dining as baby boomer desires, this list suggests that Singapore is your best bet, followed by Kyoto, Bern, Stockholm, and Tokyo. So at a minimum, plan a trip to widen your horizons and bon voyage!