Tools to Help You Find the Perfect Place to Retire
From cost of living to health care and climate, these tools can help you find the perfect place to retire
Dear Savvy Senior,
What resources can you recommend for researching good places to retire in the U.S.? My husband and I are interested in relocating to a warmer climate when we retire next year.
–Looking to Relocate
Dear Looking,
It’s exciting to think about relocating in retirement! Whether you’re considering seasonal escapes or a permanent change, there are a wide variety of digital resources that can help you find and research new locations. Here are some tips and tools to help you get started.
Where to Retire?
Deciding where to relocate when you retire is a big decision. There are many factors to think about to ensure the move supports your lifestyle, financial goals, and overall well-being. To help you identify some good retirement locations you need to consider things like cost of living, climate, taxes, health care, housing, crime, access to social and recreational activities, access to transportation and proximity to family and friends.
If you’re at the beginning of your search, a good starting point is BestPlaces.net. This site compiles demographic data from numerous reliable sources, updates it regularly and lets you easily compare cities using different criteria, such as housing cost, climate, crime, religious practice, voting patterns and education level. They even offer a 10-question “Where is the best place for me to live?” quiz, which may suggest some locations you may never have thought of.
There are also news and financial publications like U.S. News & World Report, Forbes, WalletHub, Bankrate and The Motley Fool that publish “best places to retire” ranking lists on their websites each year. These can give you an idea of popular retirement locations based on different sets of criteria.
Once you identify a few good spots, here are some additional resources that can help you dig a little deeper.
Cost of living: Affordability is often the No. 1 factor when deciding where to relocate. To research and compare the cost of living from your current location to where you would like to move, use the previously mentioned BestPlaces.net, the Economic Policy Institute Family Budget Calculator and/or Bankrate’s cost of living calculator. And, because housing is a big expense, you can take a deeper dive into these costs at Zillow.com and Realtor.com.
Taxes: Some states are more tax friendly than others. To investigate how states treat retirees when it comes to income, sales, property and other taxes, see Kiplinger tax guide “Taxes on Retirees: A State-by-State Guide.”
Crime rate: To evaluate how safe a community or area is, the FBI Crime Data Explorer allows you to explore crime statistics at the national, state, and local levels.
Climate: You can find U.S. climate/weather information at National Centers for Environmental Information at NCEI.noaa.gov. And to research climate change factors and the risks of extreme temperatures, wildfires, floods, hurricanes, severe storms, earthquakes and drought in different locations, use ClimateCheck.com and FEMA.
Health care: If you’re enrolled or planning to enroll in original Medicare, check the coverage and availability of providers in your new location. Search by ZIP code for health care providers and facilities at Medicare.gov/care-compare, and check star ratings for quality of care. If you’re enrolled in a Medicare Advantage plan and you move out of the coverage area, you’ll need to find a new plan in your new area.
Transportation: If you plan to travel much, or expect frequent visits from your kids or grandkids, convenient access to an airport or train station is a big advantage.
Once you have narrowed down your choices, spend a couple weeks in each location at different times of the year so you can get a feel for the seasonal weather changes, and so you can carefully weigh the pros and cons of living there. You may find that you like the area more as a vacation spot than as a year-round residence. It’s also a good idea to rent for a year before buying a home or making a commitment to a retirement community.