Where Are You Going To Live When You Retire?

View Comments
Housing
420x316-grad-lee Dee Lee
Dee Lee is a Certified Financial Planner who received a diploma in...
Read More

BOSTON (CBS) – Almost one in every six Massachusetts residents belongs to the Over the Hill Gang. And that number will increase as the boomers age.

If you are in the planning stage now how much money you will have in retirement is important and will dictate where you can live.

And it truly is a myth that we all want to retire some place far away. Some retirees do have wanderlust, but most don’t. They may want the warmer weather in January and February but the summers and falls here in New England.

Most Massachusetts’ communities have the basics of a support system in place; a Council on Aging or a senior center that offer various activates and services for their elders.

So how do you stay in your own home or your community so you are close to your support system? For starters would you consider downsizing and moving into a smaller house that you can grow old in? Can you retrofit the house you live in or build a new home so it can accommodate your needs as you age?

Would you consider some of the plus 55 communities that are growing in popularity. You can own a home or a townhouse. Could be a gated community with a golf course, recreational center, a pool. All have rules about such things as putting up Christmas lights, visiting grandchildren and dogs you will have to live with!

As we age there is also assisted living facilities where you can rent an apartment and use as much or as little of the services offered such as meals or laundry.

Naturally Occurring Retirement Communities, or NORCs, is a demographic term to describe neighborhoods or buildings in which a large segment of the residents are older adults.

As a last resort there are the kids. If you are considering that, think about a granny flat so that you have some distance from the family and can come and go as you please.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 2,705 other followers