Pros & Cons: Is Moving Away Really Worth It After You Retire?
Retirement is a professional milestone that most people aspire to. It marks a transition from being controlled by sales figures and economic trends to making your own decisions about what you do with your life and where you do it. While you may want to live someplace sunny and warm after you stop working, is it worth moving after retirement?
Pro: The Cost of Living May Be Cheaper Elsewhere
Assuming that you are in good health, it may be cheaper to live elsewhere in retirement. Some people choose to live in Europe or in South American expat communities where the total cost of living is less than or equal to a single month’s rent in America. This may give you the financial freedom to live life exactly how you want to as you grow old.
Con: You May Miss Your Family and Friends
If you have lived in a community for many years or decades, you may have a lot of good friends as well as children and grandchildren. Those relationships may be hard to distance yourself from no matter how attractive your new home may seem. While you may make new friends, there is no guarantee that your family will be able to come see you more than a couple of times a year.
Con: The Healthcare System May Be Inferior Elsewhere
There is no guarantee that you will have access to a quality doctor or the specialized care that you need where you plan on going. Therefore, you may have no choice but to stay where you are or stay close to your doctor or hospital in case you or your spouse need emergency treatment.
Pro: You Can See the World on Your Terms
Whether you choose to spend your golden years in Eugene, OR, or off the coast of Spain, you only have one chance to live life on your own terms. There is no rule that says that you can’t buy both a house or condo and still take long trips to places that you have always wanted to visit.
After putting in many years or decades of hard work, you deserve the right to live wherever you want in retirement. While some people may not be happy with your choice, the only one who has to agree with the decision is you and anyone else who may be coming along for the journey.