Probably one of the most difficult decisions individuals and couples face when they retire is if and when they will move from their primary residence. Many factors impact this including financial, family needs and health to name a few. For couples, a unified vision of life in retirement can aid this big decision.
Aside from financial preparedness for retirement, this is an area that many of my colleagues struggle with soon after they retire. Here are a series of questions I like to ask when this topic comes up:
Here are some pointers to help align with your partner:
Satisfying your collective vision is the clear way to get this right. Don’t fall into the trap of making a move purely based on finances – “it’s less expensive so I am moving”. This tends to be too knee-jerk and stands a good chance of falling short.
If you are thinking about moving away from your current home town/city, “try it before you buy it”. Seems kind of obvious, but you can learn a lot from experimenting and researching. One option would be to visit the targeted area for more than a few days. Also, find people you may know or can easily connect to that live near the target location. Talk to them about what they like and what they don’t like.
I am sure this may have scratched the tip of the iceberg for many couples. Since this takes careful planning and discussion – give yourself some time to create your joint vision on this topic. Good planning and patience, whether you stay where you are or move, goes a long way to help get this right!