10 Necessities for a Great Retirement Spot

Here is how to select the ideal place to retire

February 6, 2012 RSS Feed Print

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In Pictures: 10 New Retirement Hot Spots

[See The 10 Best Places to Retire in 2012.]

Near family and friends. There is no substitute for living near friends and family members. Even the coldest retirement spot can be welcoming when you can watch your grandchildren play in your backyard. Living near relatives can also save you money if your children or other relatives can give you a ride to your next doctor's appointment or help with household chores you would otherwise pay someone to do.

Stay close to home. Most people who trade places don't relocate far from home. The majority of retirees who moved between 2010 and 2011 stayed in the same county and state. Only 0.8 percent of senior citizens crossed state lines or relocated abroad. There are many benefits to staying put in retirement: You already know your way around town, you don't need to make new friends unless you want to, and you now have time to rediscover all the weekday happenings you missed while you were working. "One of the big myths about seniors is there is this huge flood of seniors who, as soon as they retire, pick up and move somewhere," says Frey. "People tend to move to places they are familiar with. Maybe their children live there or they have friends there."

Twitter: @aiming2retire

Tags:: housing,; housing market,; senior citizens,; retirement,; money

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I intend to retire someplace colder than where I live, I hate summer! Everyone always assumes everyone wants hot weather all the time, not me!

Ed of PA 1:26AM March 23, 2012

SoCal is nice if you bought a house there many years ago and now you have it paid off. But for everyone else there are much cheaper places to live that will allow you a lot of extra money to travel and enjoy life. Remember the property taxes on a $400k house in Cal might be the same as an equal quality $200k house in Texas but your house payments will be double in Cal.

Lee of CA 1:47PM March 11, 2012

One problem with the next to last point (near family) is their mobility. We may want to be near family members but often they get job offers that cause them to move. We can't follow them around just to stay near them!

Anthony of MA 10:22AM February 27, 2012