Should You Relocate after a Major Life Transition?

Have you noticed how big-name online publications publish their version of the top places to retire throughout the year? Typical highlights included with these articles are dreamy images, property tax averages, home prices, and some other juicy tidbit like business opportunities for baby boomers or the singles’ market.

Money Magazine recently published their version of this topic, These Are the 8 Best Places to Retire in the U.S. Right Now.

The key phrase is right now, which is something to keep in mind since the list changes yearly (at a minimum). While I have never based a move on one of these articles, it’s still fun to see if any of the cities I have lived in make the lists. Here’s how my current city and state rank:

• Missouri named top travel destination for 2019 (Wall Street Journal, October 2018)
• Louis is the 2^nd best city for startups (Forbes, October 2018)
• Louis is the 2^nd most dangerous city in the U.S. (Forbes April 2018)

Is our travel influenced by these reports? Are our entrepreneurial pursuits determined by the data? Is this what retirement is about? Or life after 50?

Would you pack up everything to start over again?

Sometimes the answer is YES. For instance, I moved across the country following my divorce. It wasn’t financially feasible for me to stay where I was and employment opportunities were lacking. Let’s not forget the emotional devastation as a result of divorce. Sometimes we need a major change after something like that. I chose St. Louis because of the proximity to extended family and other financial considerations, rather than the hottest trends.

Other reasons to move are to inject adventure into our lives. Some feel the need to escape a rut they feel trapped in. I’ll admit that a change of scenery and a need for adventure contributed, in part, to a few of my moves.

Regardless of the reasons, the draw to start over can be addictive—whether following hardship, loss, or the thrill of removing barriers. Even so, ask yourself what are the top reasons for the move? While articles may highlight the top cities to fit your personality, does it fit the reason for your move?

To get to the heart of relocation, start by making a list of pros and cons for a big move. Here are some to consider:

Pros of relocating:

• New life
• Fulfilling a dream
• Independence
• Starting over—excitement
• New opportunities

Cons of relocating:

• Expense—a new house, down payments, mortgages, and moving expenses can make an unwanted dent in your savings.
• Starting over—while not terrible, it does take time to get re-established.

REALISM: other than these two cons, I can’t think of other negatives. I’ve relocated 10 times (4 as an independent adult) and found excitement in each move. If the thought causes you to break out in hives, then this may not be your best option.

Other considerations for relocating include:

• Moving closer to family
• Health purposes
• Reduced cost of living

Important! Let’s not forget the fun stuff. We all need fun and that’s the basis for many of these “best-of” articles. For instance, The Money Magazine article highlighted above lists top sites for water lovers, cultural offerings, sports fans, outdoor enthusiasts, golfers, encore workers, and lifelong learners. Where ever you choose to go, make sure it infuses fun into your life.

Is relocating your best option after 50? After retirement?

• Not sure? Give yourself time to explore your options. If time and finances allow, visit your top locations and live the lifestyle for a week or so. It’s a brief period of time, but you can get a quick view of what’s possible. (As my divorce became inevitable, I visited Missouri twice in ~13 months before making my decision).
• Will your savings and retirement funds support a new move?
  

  Hiking (and freezing) at the Grand Canyon November 2018

• Establishing a home base, solidify your finances, and plan your travel according to your expenses and lifestyle. It may be easier to travel to these hot spots rather than to move there. For example, I’m an outdoor enthusiast (Scottsdale, Arizona would be Money Magazine’s top pick for me), but I wouldn’t limit myself to this location. I want the freedom to choose and travel to my own locations. Wouldn’t you? An established home base will likely allow more travel without depleting our established finances and lifestyle.
• Explore the people, places, and things in your own back yard. How often have you wanted to visit the art museum, a winery, or a historical site in your region but never had the chance to? Now’s the time to start! Not sure what’s out there, meetup.com offers plenty of ideas to get you started. There’s always something new to explore close to home.
• The living things: pets, plants, and garden may be an issue for some people. How long can you stand being away from your living things? I can barely handle a week. If you want nothing holding you back, you may wish to hand over your living things to someone else.
• Keep yourself open to possibilities. You never know what may come your way so a willingness to consider the unknown can bring unexpected joys and rewards.

While finances play a huge role in our lifestyle, sometimes relocating is the best food for the soul. The “best of” articles offer lots of incentive to make the leap but the beauty of life after 50 is the power of choice and freedom!

Is relocating on your agenda?

Kristen

(image courtesy of mrpuen at freedigitalphotos.net)