Think: Decide How and Where You Want to Live

Relationships

Thinking about the important people in your life may help you decide how close you want to be to family and others you care about, and how far away from them you are willing to be.

Family and grandchildren are often a key consideration. If you now live near them and are thinking of moving away, think about how this will affect your ability to see grandchildren's ball games, concerts and dance recitals, as well as the support you may be providing to your adult children. Your decision to move farther away will likely put an end to family members' dropping by for a quick visit or bringing you lunch when you have a bad cold.

How important are friends in your life? Do you make new friends all the time – or do you socialize almost exclusively with people you've known for many years? How critical is it that you have neighbors whom you could ask to watch your home while you're on vacation or to whom you could turn for help in case of illness or emergency?

Region

There is great variety in where people prefer to live. City or country, seaside or mountain, cold weather or warm, seasons that change or not – the choices are almost endless.

Some things to think about:

• Do you have a preference for staying close to your roots, to what's familiar, to where your "history" is?
• Do you love or hate the snow? Or the heat, the wind, the almost-daily rain, or the humidity? Would you miss the ocean or the lakes – the desert or the mountains? Can you picture life in a totally different part of the country?
• Do you want to live in a place where everyone knows your name – or is anonymity your preference?
• Do you prefer a rural area or the big city – or is some place in between the best fit for you?

Resources

Finances

One of the most important aspects of selecting where and how you want to live is finances. Consider affordability, both now as well as in the long term. Think realistically about the cost of living in an area. Upon retiring, most people experience a dramatic decline in income. Future expenses, such as taxes and property maintenance, may not be the same as they are now. Will they remain affordable on your retirement income? Is yours an area where taxes are rising rapidly? You'll also want to factor in the cost of necessities and any travel you may want to do to visit friends and family.

Whatever housing style you consider, be sure to do an apples-to-apples comparison of the costs involved. A single-family home will probably mean that you will arrange and pay for any home services you need, such as lawn mowing and gutter cleaning. A condominium will likely include some services in your monthly fee. Maybe you would prefer apartment living where the landlord provides all the upkeep.