Retirement options these days are numerous. While many retirees opt to continue living in the same city and even the same house where they have lived for many years, others choose to move to a new state or even a new country. Some retirees opt to live in an RV or buy a boat while others choose to buy a house or rent a room in a retirement community.
While there are many great places to retire to, it is impossible to say which state or country is the best retirement destination across the board. A lot depends on what a retiree wants out of retirement. Those who enjoy the company of family and friends will not want to retire abroad. Those who have a medical condition will want to live near high quality yet affordable medical care. Retirees who are adventuresome by nature may be intrigued by the possibility of retiring in Thailand, Malaysia or some other far away country.
Retirement Options for Those with a Limited Budget
Those who have a limited budget should seriously consider retiring abroad. Countries such as Mexico, Thailand, the Philippines and Panama have a much lower cost of living than the United States. Retiring abroad can enable one to live comfortably on a limited budget.
Buying and living out of an RV is yet another one of the many retirement options for those with a limited pension. It has been estimated that a couple can live comfortably in an RV on about $40,000 a year; this figure can be drastically reduced by frugal living. Many retirees have also found that living on a boat is also frugal while fun and enjoyable at the same time.
Retirement Options at Home
Those who do not want to move to a new country should consider moving to a state that has a low tax burden for seniors. The site Kiplinger.com has a comprehensive list of which states have senior friendly tax laws.
A person who wants to see which cities and states have a low cost of living should check out the site money.bundle.com, as it has detailed information on the cost of living in any state or major city in the United States.
Housing Retirement Options
A retiree can rent or buy a house, apartment or condo. It is also possible to rent a room in a retirement community or assisted living facility, buy an RV and live out of it or even live in a boat.
ach form of housing has its advantages and disadvantages. One should research any form of housing that he or she is considering and see which option best suits his or her needs and budget.
Besides monetary factors, other factors that should be considered include proximity to good medical care, ability to see family and friends on a regular basis and taxes.
There are numerous retirement options of where to live after retirement. While some options are arguably better than others, a lot depends on a retiree’s needs, desires and budget. One should consider all factors in the equation, do some research using the sites mentioned above and make wise, well informed decisions accordingly.
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