Where are you going to live after you retire? If you belong to the Baby Boomer generation, you’re either already retired or are close to it.
Where you’re going to live is one of the primary decisions you need to make, as your location will have the biggest impact on your quality of life.
One of the first things you’ll hear, when discussing where you’re going to live after retirement, is that you need to move south, especially if you live in New England, the Great Lakes states or the upper Midwest. But that may not be the wisest decision.
Consider the South
Popular states for retirees in the South include Texas and Florida. While these two states have great weather, recreation, and amenities, they may not be the place the best place to enjoy this chapter of life.
Both Florida and Texas do not have state income taxes, yet their sales taxes and property taxes are more expensive and are not as predictable as an income tax. The result? Higher cost of housing, food and shopping. Texas does offer a lower cost of living and more access to affordable housing, compared to Florida. Both of these states have welcoming beach towns, large metropolitan areas, and welcoming small town communities to call home.
Alabama is among the southern states that is ranked highly for affordability for retirees according to a study by Bankrate. Looking at cost of living, taxes, wellness, recreation, health care, weather, crime and insurance costs, Alabama is a win for potential retirees.
Consider the Midwest
According to the same study by Bankrate, many states in the Midwest are ideal for settling down for your golden years. Iowa, Missouri, Oklahoma, and Kansas rank as some of the best states for retirees. The Midwest is known for its welcoming demeanor and lower cost of living.
The weather is something to ponder
Depending on the time of year and your preference, the South might allow Baby Boomers to enjoy more time outdoors. It is true it doesn’t snow that much and the temperatures are warmer in the South during winter, with more days in shorts and flip flops than parkas, gloves and boots. However, there are days when it does get cold during the winter. And the cities in the South do not have the resources to deal with ice or snow, so you’ll be stuck inside, at home, on those days when it does happen.
Summers can be challenging in the South, with many days approaching and being higher than 100 degrees. This could be an issue if you’re thinking about selling everything up North and moving permanently to the South. Some retirees have the ability to be “snowbirds” and retreat to either climate when the weather becomes too extreme.
People are friendly in the South
Southern hospitality is a thing measured in smiles, helpful communities, and relaxed demeanor. From a casual meet up with friends on the front porch with a big glass of sweet tea to socializing with friends, the Southern relaxed vibe is hard to beat.
It is all about personal preference
If you want to stay close to family, a major move across the country might not be in your future. You may choose to downsize, buy in an active adult community, or stay put. Baby Boomers will make the best decision for their personal needs when it comes to retirement. From multi-generational homes to senior living to tiny homes, you have options to make the most of retirement!
Laurie Leiker is a published author, business coach and consumer advocate. She spent 10 years as producer and on-air investigator for the Troubleshooter Tom Martino radio show in Denver, Colo., where she helped consumers get back more than $2 million in one year. She also was a technology pioneer, starting her first computer company in 1990, winning the designation “Best Computer Repair Company” in Denver in 1992.
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