Wednesday, September 29, 2010

Living in the suburbs may not work for retirees


We spotted a great piece by Steve Vernon on CBS Moneywatch.com that offers a fresh perspective on where to live during retirement. He contends that most people buy a house in the suburbs while they're raising their family, and never really consider whether or not it's appropriate to stay in as they age. (Our thanks toRetirement Revised for pointing out the article.)

Vernon says it's not - mainly because most people don't need as much space, and the suburbs can put them far away from amenities they need, such as doctors, grocery stores, restaurants, etc. Seniors would be wise to be near public transportation, too, as they age so they can use the bus or train when they give up driving. It's an interesting idea, and almost the exact opposite of what most people do. Here's his list of what to look for:

The answer? Move out — while you still can. Here’s what I’d look for:

A smaller place with reduced bills for utilities, insurance, property taxes, and ongoing maintenance
The ability to walk, bike, or take public transportation to most, if not all, of your regular activities. This would include shopping, errands, medical needs, hobbies, and entertainment.
A location that makes it easy for you to get out and exercise, and includes nearby walking or bike paths
Close-by group social activities, such as church, community centers, theaters, and adult education schools


You can read his full take on it below:

http://moneywatch.bnet.com/retirement-planning/blog/money-life/retirement-planning-outside-the-box-move-out-of-the-suburbs/1887/

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