Retiring near family means a variety of things. For some people, it means having an adult child living in their home while caring for a sick or elderly parent. For others, it means being able to help with a parent’s care and financial support. One in seven baby boomers is providing financial support to two families while retired. The benefits of living near family may be more important than the disadvantages, so it is crucial to plan your move carefully.
Benefits of retiring close to family
Retiring close to family has many benefits. For starters, you can spend more time with your family members, rather than being separated by large distances. And although technology has made it easier to keep in touch with family members, nothing beats being face to face. You can share birthday celebrations with your children, and you can visit your family when you are in town. You can even visit your grandchildren and watch them grow up.
Moving closer to family may also reduce the cost of living. Retiring to a lower-cost area may help retirees reduce their housing costs. Smaller communities and inland areas often have lower housing prices than large cities. Downsizing is another great way to cut costs. Buying a smaller home will reduce your housing payments, and you’ll have less space to maintain. And if you can’t afford a large home, you can always rent one.
Moving closer to family has many other benefits. For example, you can live near your children, who are likely to support you. You can spend more time with family, which can help you establish a budget for retirement. Another benefit of retiring close to family is that you won’t have to relocate frequently – a big plus if you’re retired. Besides, it’s not only less stressful to be closer to loved ones than to be separated.
Retiring close to family makes it easier to be patient with one another during the transition to retirement. The biggest adjustment, however, is getting used to being away from your family, which is something you’re going to have to do slowly. In addition, your spouse will be more willing to share household chores with you. However, if the spouses are living far away, communication is the key to a smooth transition.
You’ll also be closer to friends. The proximity to your family will keep your social life intact. In addition to minimizing your social isolation, you’ll have easy access to your kids and grandchildren. Plus, they’ll be around if you need to visit them. This proximity will also help you feel closer to your loved ones. There are several other benefits of retiring close to family. But these are only the tip of the iceberg.
Costs of moving after retirement
Relocating after retirement is not without its expenses. While living with your spouse and children is economically viable, it can be physically and emotionally stressful. Moving is also expensive, requiring you to find a new home, pay for a new mortgage, and handle new transportation issues. Moving after retirement may be a better option for health care and saving money. AARP vice president Rodney Harrell advises seniors to consider all the costs involved before making any final decisions.
When deciding whether to move after retirement, it is important to consider the costs associated with the move. Many people are concerned about relocating after retirement, but it can be a wise move if you can afford it. It is not only beneficial to your health but can also help you maximize your finances. Depending on where you are moving to, you may find that it will help you travel during any season. Choosing a new location after retirement will also enable you to live in a new area that offers many opportunities for leisure and investment.
When planning to relocate after retirement, consider the weather. Moving to a new area means experiencing a different climate and weather. Think about your health, and whether you’d prefer a warm or a cold climate. Also, keep in mind that you’ll have to spend more time traveling, which will increase the cost of moving. If your children and grandchildren live far away, consider this when planning your move. You’ll also want to consider the cost of moving after retirement.
Relocating after retirement is likely your last move, so it is vital to plan ahead and find a home that suits your needs. Before buying your new home, consider renting for a few months. Renting can give you the opportunity to explore your new location without the pressure of a full-time mortgage or a huge down payment. Moreover, it’s a smart move because it allows you to test a new location without any repercussions.
Managing expectations
Retiring near family can be a wonderful opportunity, but it also comes with a host of new challenges. For starters, your spouse’s job may require you to work fewer hours than you’d prefer. Managing expectations is particularly important in this context. Over-optimism can interfere with your retirement plans. Try to set realistic expectations instead. Doing so will help you focus on the new lifestyle you’re about to embark on.
Your adult children’s expectations will likely differ from your own. If you want to be around your grandchildren, you may need to negotiate childcare. If your children expect you to take care of their children, refusing to do so could be viewed as not loving them enough. To manage expectations, make sure to discuss your plans with them in person and express what you expect. If you can’t make it in person, try communicating via email or phone.
While it may be time-consuming to document your expectations, if you’re married, do so. This will make the process more concrete, and it will give you time to reflect on your goals for retirement in the long term. And because it will involve both partners, sharing your expectations will make it easier for you and your spouse to make the right decisions. It can also lead to better communication. Ultimately, the benefits of a happy retirement will outweigh the negative aspects of separation.
Managing expectations when retiring near family is crucial to enjoying your new life. Retirement can bring a host of feelings and worries. Taking care of yourself emotionally during this time will help ease the emotional burden and allow you to truly enjoy your new phase. So don’t hesitate to make this transition! You will be glad you did. Take care of yourself. With careful planning and thoughtful consideration, you’ll be able to enjoy the transition to retirement life without the burden of worrying about the financial situation.
Choosing a senior living community
Retiring close to family can be an appealing idea, but it can also mean a number of challenges. For example, retiring in a different area means leaving familiar friends and social circles behind, and settling in a new community may require adjusting to a different lifestyle. There is no better way to get started than to consider the pros and cons of the retirement community. After all, your choice will likely depend on your budget and location.
Besides the convenience and the cost of senior living, many communities have amenities and services that can help your loved one lead a fulfilling lifestyle. Services like transportation to and from doctors’ appointments are valuable, but other perks might make a senior’s life even more enjoyable. Some even offer pharmacies and on-site physical, occupational, and speech therapy. These services can help you stay active and enjoy retirement.
Before you choose a community, tour it first. Ask to see the facilities and discuss any costs with leasing staff. For example, some communities have a strict “no children” policy. If you’re a parent with memory issues or is concerned about safety, you may want to avoid such communities. A community’s beautiful spaces and friendly staff can help your loved one feel like home and promote healthy social interactions.
If you’re planning on retiring near family, it’s important to select a senior living community that provides healthcare. While many retirees are in good health, the status of one’s health changes with age. If you’ve got a chronic health condition, it’s wise to find a community with healthcare services that can address your needs. This way, you’ll have the peace of mind you need to age in place.
You may want to check out a senior living community near your family and see how expensive it is. While these communities typically cost more than traditional housing, they often offer extra amenities that make them more attractive. Aside from a delicious meal served by a dedicated chef, you’ll likely enjoy the activities and interactions in the community. In addition to having a great place to live, you’ll have a friendly neighbors and a welcoming team.
