What Vacations Can Tell You about a Potential Destination for Retirement

The moving van is packed and you are ready to retire in your favorite vacation destination. Will your past trips alone give you all the information you need about your new home?

In today’s episode of Your Money Minute with Tracy Stewart, CPA, I’ll share with you information about your retirement location that you can’t get from vacations alone.

A ten day vacation is not the same as actually living there all year long. When you plan your trips, it’s usually during times of good weather. Think about what the “bad” weather is like in your new neighborhood. Is it something you can live with?

Your typical vacation destination is guaranteed to be filled with one thing—tourists! What does the traffic look like in the area? Do you mind sharing your new home with tons of visitors when you are a “local”?

Consider first renting a home where you are planning on retiring. If you live like a “local” for three months, you are bound to learn more about the area than you typically would on a week long vacation.

Plan for your future by trying to get around town without a car because in ten years, you might be in a situation where you can no longer drive. Take a look around. How are the healthcare facilities? Is the atmosphere the same for a “local” as it is for a tourist?

Find out what it is like to really live there and not just be on a fun vacation, because when you really live there, you will want it to be nice. No bad surprises. Only good surprises.

Financial independence is unbelievably liberating. By considering all of the factors involved in your retirement location, you’ll be better prepared to spend less and enjoy more.

Remember: You can subscribe to my YouTube channel for even more practical advice on making the most of your money and life in the next episode of Your Money Minute.