Proper retirement planning is very important in one’s life. This is the commitment to maintain a satisfactory living standard after you leave the workforce. Studies reveal that on average people spend around twenty-five years in retirement. So, it requires proper planning to make your later years more comfortable. Now, an average American is healthier and lives longer than his or her predecessor. Now, many of the Americans do not opt for a complete cessation of work, rather they prefer a transition into a different lifestyle. Many of the retirees seek to work on a part-time basis or set up their own business. Some of the retired persons may still have the passion and the zeal to visit different parts of the world, of their choice. Some of the retirees may also want to relocate to some other destination because of a whole lot of considerations. Often it has been noticed that retirees prefer to settle at small and comparatively easier-to-maintain locations. Before choosing retirement locations, however, one has to think carefully and weigh different options available before him or her. It is recommended that the person should do thorough research before settling into a new destination.
Different Lifestyle Issues Related to Retirement Locations
Different issues related to lifestyle have to be taken into consideration while picking the retirement location. Various aspects that need to be incorporated into lifestyle choices are listed below.
Availability of Healthcare Facilities
The aged people are more prone to illness. So the health aspect is of paramount importance to them. They will always prefer a place where quality healthcare facilities are available.
Proximity of Children and Grand Children
You may be a person who values family and friends a lot. In that case, this proximity to the near and dear one’s factor would play a pivotal role in your decision regarding location.
City Life vis-a-vis small town
When you have reached the autumn of your life, you may not like the hustle and bustle of city life. Rather you may prefer the quietness and the tranquility of a small town or a village. Else you may also like the busy city life full of restaurants, shopping centers, public transportation, and many other things. The choice of location depends upon the nature of a particular individual.
Chance of Employment
You may not be willing to take a complete cessation from work. In that case, it would be wise if you select a destination where different types of jobs are available in plenty. The destinations with a stable economy and where the industrial and services sectors are matured enough are ideal places to resettle. However, the destinations which solely depend upon a single industry, are not ideal places to relocate.
This is not a prime factor. But still there may be some individuals who prefer shiny weather all round the year or they may prefer a four-season climate. So the choice of destination will depend on the inclination of a particular individual.
Financial Issues Related to Retirement Locations
One of the important factors that influence the decision regarding the destination is the financial aspect. The retired persons depend on fixed monthly income. So quite naturally, the cost of living plays a vital role in determining retirement locations. Various financial aspects that are taken into consideration are listed below.
Taxes charged on your income, property and sales play a vital role to take a decision. The individuals compare these tax rates existing in the place where you are living and the place where you want to move. There are some countries around the world or even in some of the states in the United States where these tax rates are comparatively low.
Another important factor which should be considered seriously is the cost of housing. Property prices and taxes on property vary widely across places. All these aspects should be kept in mind while making a decision regarding the place to relocate.
Top Places to Retire
Because of the rising cost of living and tax rates, many individuals around the world are searching for top places around the globe to retire. Many of the retirees seek to spend the rest of their lives in some of the wonderful places of the world with beautiful scenic views and yet not spending much to maintain a certain standard of living. Below here we briefly discuss about some of the top locations around the world which are perfect to retire.
Located in the continent of Latin America, Ecuador is a top place in the world to retire. The country has various unique features such as low cost of living, inexpensive housing prices and quality health care system, which make it a top place to relocate. Importantly, it is very easy to obtain retirement visa in Ecuador. This visa entitles the foreigners to enjoy all the facilities enjoyed by the citizens of this country. Apart from these, this is a country with extraordinary natural beauty which attracts many people to this place. The people of the country are indeed friendly and easy to mingle. All these make Ecuador a great retirement location.
Costa Rica is fast growing as a wonderful tourist location in the world. The country has many things to offer to the visitors such as astonishing wildlife, wide stretch of rain forests, stunning beaches and active volcanoes as well as many restaurants, museums, shopping centers and clubs. Increasing number of retirees from the United States have flocked to this country, being attracted by its quality health care facility, mild climate, high literacy rate and of course low cost of living.
One important reason of Mexico being a top relocation place is because of its proximity to the United States. Though the weather of this place varies over the year, but the overall climatic condition of this place is mild, enticing a large number of retirees to this country. Apart from these, the stunning natural beauty, the friendliness of the Mexican people and low cost of living, have made Mexico an excellent location for the retired persons.