Retirement is a great time to jump-start your health and fitness. Health clubs not only have programs designed for your age and level of fitness but also provide a community to help you reach your goals. Health and vitality are the keys to having a long retirement, one that allows new activities, travel, and continued learning.
A big question many retirees face is where should they retire? No longer tied to a job, is now the time to relocate to a different area of the country? Retirement community builder Del Webb surveys baby boomers regularly on their retirement plans. This year’s survey found that nearly a third of older Baby Boomers plan to move in retirement. Among today’s younger Boomers, 42 percent of those turning 50 in 2010 plan to move, compared to 36% in 1996. According to this survey, it doesn’t appear that the financial impact of the 2008 recession has changed the desire to relocate in retirement.
The “dream” of retirement often includes the vision of a second home, either on a lake, in the mountains, or a warm-weather spot. In the last couple of years, the cost of a second home has dropped by up to 50% in some parts of the country, creating a great opportunity for the second-home buyer.
A full-time move to another part of the country takes significant planning and thought. Make sure you have made extended visits to a particular area before pulling up stakes and making a permanent move. Although great views and weather make for a memorable vacation, actually living in an area year-round can be another story. Consider all of the features you enjoy in your current home and community, and make sure your new area will have the same opportunities.
With so many new opportunities and decisions to make around retirement, how do you plan out what your retirement should look like? A good first step is to take an interest inventory. Modus Advisors’ Life Goals Profile, part of the Advice for Life™ program, can guide you through the different areas to consider and highlight your areas of special interest. Call us for a free initial consultation at (952) 946-1000. We’ll answer your questions and walk you through the Life Goals Profile, to help you get started on your own New Retirement.