Where Do I Live After Retiring?

 

This has been such a common and important question many soon to retiree(s) need to make a decision. Do I stay or should I go? Sounds like a song lyric, but the truth is, yes where do I decide to live after retiring? 

City Living 

Here's my predicament, I live and work in the city where my job is so, it makes sense to be centrally located to where my job is - right? But, when you decide to leave, should you relocate? I live in an apartment in the city that has rent control. Many say once I leave, I can't come back as the cost of living for housing will never be the same. On the other hand, I also have real estate property outside of the city. This will be paid off soon. I could live there and forego any additional rent paying in the city. But I don't want to live in a remote setting. For me, I'm a city slicker, I love the city vibe, the convenience of walking out my door and getting a cup of coffee and sit and take in the city setting. Where as living in a remote location, I have to get in a car and drive somewhere to get coffee. Financially it makes sense, your saving money on rent in the city and soon enough no mortgage to pay in a couple of years with the real estate outside of the city. 

In reality, I could keep both and enjoy living in the city to bide my time until my real estate property is fully paid for and I still have a place in the city. All I have to do is just pay for property tax, utilities, and maintenance, which will still be manageable. I think I answered my own question(s), it will be tough for a couple of years, but there's an expense for traveling I must contend with. 

Soon after retiring, I'm told no big decisions should be made for the first month. For example, moving, making a large purchase, etc. Also, from what I've read, it takes about 4 months after retiring that you feel that you've really retired. That's when reality really sets in. I need to set aside funds for some travel once retiring, that should really hurt me, but a budget is needed. 

As much as I prepare in advance in my inevitable retirement date of July 1st, there's always something nagging that I have yet to do or need to do. I constantly look at my check list on items in my financial, social, mental columns to be sure I didn't miss a thing. 

But I can only hope that I've covered as much as I can prior to retiring. Like the movie directed by Mel Brooks, The Twelve Chairs, set in the 1920s Soviet Russia, a fallen aristocrat, a priest, and a con artist search for a treasure of jewels hidden inside one of twelve dining chairs, lost during the revolution. A song in the movie titled, "Hope for the Best, Expect the Worst". I rather think of the positive aspect of retiring. 

Overlooking the City from Angel Island 

The journey continues!