Now we've covered many aspects of retirement and the last to consider is where your retirement will occur, in your present location or a new place. This is a major part of your retirement and there are many things to consider.


First, do you want to relocate? A recent study showed that 55% of people approaching retirement planned to relocate. Things to think of: what are your local ties, such as friends, religious community, family, medical care; are you looking for a change of climate, seeking a new community or lifestyle, or a place geared towards your interests? If you feel moving is not what you want to do, then do you want to downsize, reduce or pay off your mortgage? Entering retirement debt free is a positive thing to do.


Second, if you want to relocate, what are the primary factors influencing your decision? Is it cost of living, climate, lifestyle, being closer to family, the ability to travel more, being closer to good medical facilities or services for an aging population?


Third, if you plan to relocate, it requires preparation time. It's important to research the possible locations to narrow down your choices. Then, it can take multiple visits to the area to become familiar with exactly where you want to be, if it feels like a good fit with the local culture, how close are those services important to you, to find a realtor to work with, and to find just the right home.


Retirement can be the best part of your life but, like all good things and important choices, it requires forethought and planning and a good sense of who you are and what works for you. There are many factors involved and it can be complicated, but work it in the end. Take the time to do it right, and, as always, your EAP can offer a neutral perspective and support system.