RETIREMENT PLANNING: THINK TWICE, MOVE ONCE
Personal Finance|November 2022
10 unexpected but crucial) considerations when choosing where to retire
GUS VAN DER SPEK
RETIREMENT PLANNING: THINK TWICE, MOVE ONCE

CHOOSING WHERE to retire is one of the most important decisions a person will make in their lifetime. With many retiring in their mid-60s and human life expectancy at the highest it's ever been, the odds are that retirees are stuck with the retirement living option of their choice for at least a decade, if not more.

Moving is stressful at any age, but it becomes much harder when you're older.

To avoid this stress, some stay in a home that they're unhappy with-an outcome that is truly devastating considering that these are meant to be the 'Golden Years'.

In making a decision about where to live, many retirees focus on the obvious considerations: well-trained staff, adequate healthcare facilities, comfortable rooms, and affordability. These factors are important, but given the weight of this decision, it's necessary to 'go deeper'.

There are certain 'hidden factors' that play an equally important a role in improving quality of life, and possibly even extending it. Careful consideration of a retirement home can make all the difference.

It's therefore important to choose a retirement living option that ticks all of the following boxes, not just the obvious ones.

1. Community

As people get older, it is almost inevitable that their social circles will shrink. To avoid the negative physical and mental health implications of isolation, retirees should determine if the retirement living option they're considering has measures in place to promote social interaction.

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Denne historien er fra November 2022-utgaven av Personal Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

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