Where would you like to live after retirement? This is a question you will have to answer at one time in your life. Many people work hard during the careers with the hope that they will get to rest and enjoy their life after retirement .
However, most retirees are finding it difficult to simply stay at. A recent segment aired on NBC Evening News reported that more retirees are opting to move to university towns where young people are and there are lots of things to do.
Perhaps your ideal retirement place is at a beach, your own condo, at a golf course or a country house. However, what will determine where you will live is your financial status after retirement. Before you move to your preferred city, think about how you would like to live. Ask yourself the following:
The above questions will help you make the right decision about housing after retirement. If you have a generous pension, you can buy a home in the state you want to live. For some retirees, a HUD loan can be handy in subsidizing home or rent prices.
Another option can be to sell your larger home and buy a smaller one. While this option is a viable solution it ignores the issues of healthcare. Moreover, the cost of living is much more than simply the cost of maintaining a home. When it comes to healthcare, medical tourism can be a good cost-saving option for retirees that may have complex pre-existing conditions that require specialized treatment but are not covered in their health insurance policies.