Considerations When Planning Post-Retirement Life

Create a Personal Inventory to Guide Decisions

My husband and I created a personal inventory to guide retirement life.

While reading retirement forums on social media, one question is reappearing as a focus of discussions. “How do I decide where to retire?” This question often invades my thoughts since my husband, Randy, and I retired just over a year ago.

Though a final decision is still elusive, we have determined several variables to consider when narrowing our final choices. Our decision-making process is a work in progress. As elements of life change in the categories below, we expect to either want to or have to modify our living situation. Therefore, we address each category with knowledge of the present and an eye on the future.

Understand Personal Background

Location

Since we are native Idahoans and have accepted as fact what our parents drilled into our heads, “Idaho is God’s country,” we have no desire to move any great distance — permanently.

Social Circle

We associate with friends who know our history and value relationships, people who finish our sentences, laugh at our jokes, and love to dine at our favorite restaurants. This support system appears during the daily events, but their presence also sustains us through the ugly moments that we keep secrets from casual acquaintances.

Family

Both of our daughters live within walking distance of our current home with their husbands and four granddaughters. My aging father lives one hour away, and we arrange regular visits.

Consider Lifestyle

Outdoor Activities

In our life, opportunities to be active are important. We enjoy nature and take advantage of outdoor living. Long walks, bike rides, golfing, cruising on our Harleys, dirt biking, and ATVs all offer excitement and exercise.

Hobbies

My husband, a retired automotive technician teacher, needs space to build, repair, refurbish, and store his collection of man toys. Though small living quarters are acceptable, a large work area is required. My current daily goal is to write so I simply need electricity and internet.

Entertainment

Once upon a time, we enjoyed concerts, fairs, and large gatherings. Now we avoid crowds and all the discomfort they inflict on our aging bodies. I suppose we have a “been there, done that attitude.” Thus, we gravitate towards events that attract an older generation, provide choices, require little risk; often we tend to live vicariously.

Space

Being a car buff his entire life, Randy needs space to store his collection: a classic car, snowmobiles, motorcycles, a four-wheel-drive, and the family car. It dictates a requirement for parking space while restricting many permanent living choices.

Assess Finances

Income

Unfortunately, this necessary evil must be considered. In our case, we live on a pension from lifelong careers as teachers. It allows us to live comfortably but not extravagantly. Since our monthly checks are automatically deposited, there is little influence on our place of residence.

However, other people say revenue can influence where they live. If they move, their income sources will deplete significantly. Several variables can change this reality: part-time jobs, pension restrictions, rental income and past business expectations.

Expenses

Many considerations require pondering. Different vicinities require various premiums, dues, incidentals, and levies. Explore hidden fees so they do not impose monetary restrictions that may impact daily life. Examine the tax rate increases over time. Research daily living costs: groceries, gas, home goods, all the personal items used on a regular basis. Be aware of the past, present, and potential future trends of the area under consideration.

Recognize Health Needs

Resources

Unfortunately, with age our bodies require more pampering and attention. (At least mine does!) My father who is currently 85 chose to move from his cabin in the woods to a home closer to medical facilities as his health deteriorated. This was a deeply personal decision.

A needs assessment provides valuable insight. A simple process would be to create a three-column chart. In the first column list relevant needs: prescriptions, specialists, therapists, support groups, transportation, food service, etc. In the second column list services available, and in the third column record average costs. Such a detailed document provides valuable information to support informed decision making.

Climate

My mother’s rheumatoid arthritis pushed her from a wet climate to a dry, humid desert environment to reduce inflammation and pain.

My husband desires four seasons. He refuses to enter a fitness club because his physical exercise regimen comes from shoveling snow, raking leaves, cutting firewood, and long walks. I imagine the day will come when this will change so we are forced to balance current desires with changing needs.

Snowbirds follow the sun as they travel from a warm climate to another to provide a consistent environment. Some acquaintances suffer from depression and dark cold days negatively promote their ability to function; they also gravitate towards the sun.

By considering the climate’s impact on lifestyle and well-being, the final decision will provide a more satisfying result.

Philosophical Alignment

This area is often overlooked but relevant. The degree a person becomes active in their community and the level of importance assigned to specific factors should be considered. My husband and I focused on two areas of importance, religion and politics. Without providing unnecessary details in either area, suffice it to say, we didn’t want to be immersed in a community of conflicting or overwhelmingly different beliefs.

Trial Run

Currently, we are in the trial run phase of retirement. Because we were blessed at a young age to invest in a small family cabin that now is paid for in full, it is our landing pad. However, we still pay on a home in Boise allowing us to be near family and friends who energize us. I expect to downsize that and shift the money we save to travel opportunities.

Our purchase of a travel trailer was dictated by our dog who accompanies us everywhere. We are exploring opportunities and loving the adventures. Where we wake is dictated by careful consideration of the above criteria and the relevancy at a moment in time. We recognize our fortune to have multiple choices but also recognize with age our choices will become limited.

Unsure about where we will settle when the time comes, we acknowledge that a decision will be required. For now, we are accessing opportunities to live life on our exploration of retirement.