Where to live in retirement and when to go

Monday - 2/18/2013, 11:26pm EST

For Your Benefit

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February 18, 2013 -- This week on For Your Benefit, Michael Creedon, gerontologist and long-time presenter for the National Institute of Transition Planning, joins hosts Bob Leins and John Elliott to discuss what you should consider when you think about moving in retirement.

Dr. Creedon says retirees need to take their time before packing up the house for Arizona or Florida.

He urges new retirees to visit lots of places before choosing to settle down in one spot. He sugests they visit their dream destination at different times of the year or spend a year renting at the new location before making a final decision and selling their current residence.

However you choose to approach this decision, Dr. Creedon says, don't consider moving until at least a year after retirement, so you have time to make the right choice for you.

Some points to consider:

  • What is the climate like?
  • What are the health care options in the area?
  • Are you near family or friends?
  • What is the cost of living like?