#240 - Relocation in Retirement: Making the Most of Your New Locale
Do you have too much stuff? Are you like me? Have you lived in your home for several years and have a lifetime’s supply of clutter? If you are planning on moving in retirement, then you must purge some of this stuff. On the Hot Topic segment, I provide tips on purging. In the Practical Planning segment, I help you discover how to make the most of your new locale. Listen to this episode for valuable tips on decluttering your life, exploring whether relocating is right for you and learning how to make the most of your new locale.
How can you purge your stuff to set yourself up for a successful transition?
Purging is a must. Not only will it help you with staging your house, but you will also have less to pack, you might earn a few bucks, and it will bring less stress in your move. It’s important to start decluttering early; it is too stressful to wait until the last minute. I’m trying to tackle purging a room a month; I don’t want to try to do too much all at once. Here are some questions to ask yourself when sorting through a lifetime of memories. When is the last time you used it? If you haven’t used it in the last year, you probably don’t need it. Can you digitize it? Do you really need it? Has that season passed in your life? Listen to how I set up my 3 box system so you can learn to organize your purge on this episode of Retirement Answer Man.
How can you make a successful transition?
Combining two of the most stressful transitions in life together could be a bad idea. You may want to take them one at a time. Retiring will bring about a big change in lifestyle, and it could be overwhelming to throw in a move on top of the new life dynamic. You could consider slowing down first and adjusting to retirement and then relocating at a later time. This way, you pace yourself as you tackle these transitions. Listen to this episode to hear how to make your transition to retirement and a new locale as seamless as possible.
How will you pay for it?
If you are looking to get a mortgage on your new home, you need to be able to qualify for it. Mortgage companies use incomes as the primary factor in deciding who qualifies for a mortgage, and many people get denied for mortgages even when they have a hefty net worth. Find out if a manual underwriter is what you need by listening to this episode. If you decide to pay cash, how will you fund it? Should you draw from a retirement account? Do you sell your current home and use the funds from the sale to purchase the new home? Should you buy another home while you still own the home you're in? Listen to this episode of Retirement Answer Man to find out the best way for you to pay for your next house.
Are you sure you have chosen the right area?
Sometimes people buy the land to build a house or a retirement home early and then realize that they don’t really want to be in that area. Think to yourself if you really want to retire to that chosen locale. Have you spent enough time in the area to know about the community, the taxes, and the facilities? There is a lot to consider when choosing a new locale. You also need to think hard if your current house and neighborhood are that bad. Listen to this episode of Retirement Answer Man to help you choose your new locale or decide if relocating is even the right choice for you.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
HOT TOPIC SEGMENT
[2:19] Do you have too much stuff?
[4:58] How can you purge to set yourself up for a successful transition?
[11:02] Should you sell or donate?
[12:45] How can you make a successful transition?
[14:26] How will you pay for it?
[19:55] Are you sure this is the right area?
THE HAPPY LAB SEGMENT
[26:01] Think about your needs vs. wants: are your wants distractions?
TODAY’S SMART SPRINT SEGMENT
[28:00] Take the purge challenge.
Resources Mentioned In This Episode
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
3-video Series: 5 Minute Retirement Makeover
Roger’s Retirement Learning Center
The Retirement Answer Man Facebook Page