CHOOSE THE RIGHT RETIREMENT DESTINATION FOR YOU

Cost, culture and climate will all come into play.

- MALLIKA MITRA

THE years leading up to retirement are full of decisions. Will you replace your days at the office with traveling, volunteering or lying on the beach with a book? When should you start claiming Social Security? Do you want to pick up a part-time job? And here’s yet another important choice you'll have to make: whether you'll relocate and, if you do, where you'll land.

If you’re contemplating a post-retirement move, you're not alone. Roughly one-third of retirement savers don’t think it makes financial sense to stay put once they say goodbye to their job, and about one in six say they'll be forced to relocate to a more affordable place, according to a recent survey from the Nationwide Retirement Institute. While costs are a critical factor, you'll also need to think about access to quality health care and the availability of activities you love, just to name a couple of considerations.

States such as Florida, Arizona, South Carolina and Texas are go-to spots for new retirees. These sunny locations have offered a relatively affordable cost of living and friendly tax environment, as well as plenty of opportunities to hike, golf and swim. But while the warm regions of the South and Southwest may make sense for some retirees, they have their downsides, too—especially as wildfires, droughts and other natural disasters become more widespread and occur at greater frequencies than they did in the past.

That may be good reason to look beyond the most popular destinations. The decision involves not only weighing the pros and cons of the locations you're considering but also your personal preferences. Is it important to you to be able to pop into a big city to catch a theater performance? Are you a foodie? Do you like to experience some snowfall? How close do you want to be to an international airport? If your children live far away, you may want to move closer to them. If you have a furry friend or are planning to get one, you may want a yard.