Where are you going to live when you retire? This is a very important question. The reality is that we are all aging, even if we are not as old as some other folks yet; so we all need to deal with the question about where we will live when we are the age to retire, sooner or later.
A big factor about where you decide to live is really dependent on how much money you have saved during your working life that will be able to support the type of lifestyle that you wish to have when you are retired. Many may wish to have a certain lifestyle, but many just cannot afford it. So they have to choose economical living conditions.
Some people may desire to live in their family home because it is all paid for. But then the repairs and maintenance over time may seem too much for some seniors, so these ones may decide to move to condos/apartments where all the maintenance and grounds are already taken care of by professionals who manage the property.
Some folks have worked in the city and just feel they have to stay in the city, because they do not want to be isolated. So they downsize to a smaller apartment. Then there are adventurous folks who like to have a home away from home. They still want their solid roots of having a family home to rely on, but they also want to have a cottage or a second home somewhere along the beach or in the mountains if they can afford it.
Another popular choice is Retirement Villages and Over 50’s Lifestyle Villages. These are becoming increasing popular for their low maintenance lifestyle choices and instant access to a community of likeminded people. The ranges of extracurricular activities especially in the newer establishments are proving very big drawcards in popular retirement locations like the beaches.
Some folks may even decide to leave their country of citizenship all together and retire in another nation, as sometimes the cost of living in other nations is cheaper and makes such a decision worthwhile. On the other hand, some folks who wish to live in another nation still may get homesick for their family members and relatives. So they choose to live part of the time in their country of citizenship and part of the time in their retirement nation of choice.
Then some people are very adventurous and like to think outside the box, just as six friends decided to do when they were approaching retirement age. In fact, they began to think about where they were going to live several years before retirement, so they had time to plan and prepare, which really is a spending idea.
These friends liked spending time together on holidays. The friends are six married couples. So then it happened that they started talking about what it would be like to retire together, because the reality is that it would be much more economical for them to retire together than separately. They talked about what would work, what would not work, bought land, camped on it to see how they got along and finally built a big house that they all share with enough private space for each couple to enjoy. Collectively they are called the ‘Shedders’. You can listen to the interview of this podcast here: