Earlier, retirement location would have a peaceful environment factor alone. With working after retirement and keeping in touch with the relatives, choosing the place to retire has a lot of factors playing on it. You would need a place which would make you near to all your leisure activities, fitness programs and also your part time job.
The place you choose should have all the required medical, civil and other facilities nearby. You cannot fly to another area whenever you need something. Choosing a rural place to reduce the cost would not be a wise decision.
If you want to spend a considerable amount of time with your family and help your kids by baby sitting your grandchildren, then you should choose a place, which is near to them, which makes traveling, less expensive.
Make sure to choose the right place to make it a single work. You cannot keep on changing places, moving to a new house, very frequently.
The best way is to reduce the luxury factor. With all your children out on their own, you might not need a condo or a double storied apartment. You might not need a luxury car which depreciates faster.
Planning to spend the retirement, overseas, is not an easy task. You might need to learn a lot about the country, before you plan to move there. If you are looking for cost cutting, France is not the right place. Belize has a low cost of living and abundant natural resources, but creaky infrastructure. Rental prices are very low in Thailand and the cost of living is also low. If you are looking for a cultural area, Philippines is the best place, but the cost of living will be high. Nicaragua has a lot of expat retiree communities which would give you more company and is also an easy place to settle down.
Malaysia would give a relaxing environment. If you are on a budget, Equador would suit you. Vietnam has the lowest living cost than any other area.
These are a few factors that would affect the choice of place for your retirement. There are a lot of customized factors like presence of golf course, source for cancer treatment and others that might alter the choice of any place.
Tammy Richards is a seasoned finance writer with over 15 years of experience in the industry. With a keen eye for detail and a passion for helping people make smart money decisions, Tammy has become a trusted voice in the world of personal finance. Holding an MBA and drawing from her extensive entrepreneurial background, she offers valuable insights and practical advice to her readers.
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