Retirement is not just a time of change in your work and finances, but also where and how you live. Where you live in retirement can greatly affect whether or not you view this life stage as successful.
While it’s difficult to predict what the future will hold, carefully considering your options sooner rather than later may stop you from making a hasty decision you’ll regret.
The need or decision to change the type of house you live in, or where that home is located can be driven by different factors. Do you want to move closer to family or is staying near your established social network more important? Have you always dreamed of a sea or tree change? Or maybe spending extended periods on the road is more your thing? Where you want to live is the first decision you need to make.
If you decide to stay in your own home, you should consider:
– Can you afford to maintain your home?
– Do you need to access the equity in your home by selling or utilising an equity release product?
– How long will your home suit your physical needs?
– Is it too big too enjoy?
Should you decide that moving would be in your best interests, you should consider:
– Which services you need to be close to.
– How accessible is public transport?
– Should you move sooner rather than later?
– How close are you to family and friends?
While many Australians are happy to stay in their own homes as they age, a growing number are considering their future needs. This can result in moving into a retirement village, and one that may have access to low level aged care without having to move again.
Case studies in June's example compare cost of home vs residential care.
Noni Hazlehurst isn't afraid to tell it like it is and we're only too happy to listen.
Gerard Brody looks at the issues facing retirement village residents.
If living longer is the goal, why do we not appreciate more those who achieve it?
Many retirees are unaware that they need to jump out of their pot of debt.
As Age Discrimination Commissioner, Susan Ryan is across the issues that older Australians are
If you've considered living overseas then maybe the Philippines is for you.
New research has found that the expenditure levels for most retirees is similar.
Baby boomers are claiming lower levels of financial comfort in retirement.
A Singapore architect says Australia should explore high-rise housing for retirees.
The sad truth that income and occupation control your longevity.
An increasing number of older Australians are retiring burdened with massive debt.