| Of all the things we normally consider when we plan | | | | Once you have your retirement home secured, you'll |
| for our retirement, where we are going to be living is | | | | also want to be certain you have enough money set |
| usually not one of them. We think of what it will cost | | | | aside for your monthly living expenses, as well as |
| us to pay all the usual, as well as unusual, expenses, | | | | money to travel on or to do whatever else sounds |
| such as utilities, insurance, medications and | | | | like the perfect retirement projects. |
| entertainment. We plan for all the places we would | | | | Whether you purchase a home in a retirement |
| like to travel as well as all the wonderful things we | | | | community or somewhere else, you'll find the cost of |
| will be able to do, that we've never had time for. | | | | living in different parts of the country can vary |
| The one thing we usually don't plan for is where we | | | | widely. You may choose to retire somewhere you |
| are going to live while we do all of these marvelous | | | | know the cost of homes as well as the cost of living |
| things, and that's a big mistake. Many people will | | | | is much lower than where you are living now. This is |
| choose to move into retirement communities to live | | | | another very good way to help provide for your |
| around people of their own age and interests. | | | | security when you are finally able to retire. Retiring to |
| Unfortunately, these communities are frequently in | | | | one of the lower priced areas is a good way to |
| the high rent district, and the overall cost of living | | | | make your retirement income go all that much |
| there will be considerably higher than where you are | | | | further when the time comes. |
| now. A good way to cut the cost to live in one of | | | | In the meantime, you will have the comfort and |
| these communities after you retire is to buy | | | | security of knowing you already have your |
| property there now, while the price is much lower | | | | retirement home waiting for you. It will not only be |
| than what it will be in 20 or 30 years. | | | | increasing in value through the years, it will also be |
| The retirement home you purchase now can be | | | | adding to the amount of retirement income you are |
| rented out until you are ready to retire live in it. In | | | | going to have when the time comes. |
| the meantime, the rental income will be making the | | | | Before purchasing your future retirement home, it |
| payments, and maybe even give you a little extra to | | | | would be a good idea to consult with your financial |
| put into whatever retirement plan you've chosen. By | | | | planner as well as a real estate agent. The first can |
| the time you are ready to retire, the home will be | | | | advise you as to how purchasing this home will fit in |
| paid for, or at least just about paid for. Not having to | | | | with your other retirement planning, and the second |
| make monthly mortgage payments, after you retire, | | | | can give you advice on some of the best and most |
| is an excellent way to cut down on your eventual | | | | cost effective places to look for your retirement |
| living expenses. | | | | home. |