What Roshan, Adrian, and Erik Look For in their Places of Retirement
Roshan mainly looks for two things in his future retirement home: low overall taxes and a nearby beach, narrowing down the list to Delaware, Florida, and Virginia. Adrian, who is in his 20’s, is looking for a place that has the best of both worlds: a place near both seas and mountains as well as having great modern infrastructure. He also looks for places with a strong sense of community, great places of attraction, and found that the three best places that checks all his boxes is the DMV area: D.C., Maryland, and Virginia which is also where he grew up in. For Erik, who is the most senior out of the three and currently living in Michigan as his place of retirement, he wanted to “get the band back together” and his main motivator was proximity to family. Though that was his main factor, the lower tax rates also became a secondary reason as well as the more left-leaning political standpoint.
Factors to Consider in Retirement and Sources they Recommend
For some of Erik’s clients who are tight on money, he sometimes recommends retiring in other countries which can help dramatically slash their cost of living. He found that a million Americans are currently living in Mexico as well as a significant number of Canadians. The top country was Costa Rica, followed by Panama, Mexico, Colombia, and so on and the three countries that best suited Erik’s must-haves in ascending order were Portugal, Ecuador, and Vietnam. However, the adjustment process might prove tricky but both Adrian and Erik agree that being genuinely interested and plunging in the local culture and customs of a new country, and not just looking for foreigners and expats, is key in potentially living a great life abroad.
Roshan cites Market Watch as one of the few sources to seek when looking for the best place to retire in wherein they have a questionnaire with the following categories: who lives there, number of seniors and college graduates, religion, population, political leanings, money, January and July weather, snowfall, climate, health, transportation, activities, culture, and the list goes on. Erik also cites Global Citizen Solutions and International Retirement Living, both of which attempt to give a broad overall ranking of countries abroad on housing, benefits, Visa accessibility, adjusting to the cultural and language, level of development and infrastructure, climate, health care, governance, opportunities, and cost of living.
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