Retirement is an enormous life transition. And deciding where you are going to live is one of the biggest decisions retirees have to make.
While some people choose to live in a vacation destination, many retirees are choosing to live near their children. The advantages of locating near family are numerous.
One benefit is that you get to be present to participate in the lives of your grandchildren. You get to attend their concerts, soccer games and family events, but grandparents are widely recognized as the best baby sitters around. And the grandkids’ parents are still your children, so it’s nice to be there for them in an emergency. Being with your loved ones and helping them raise their family can help ensure a rewarding retirement.
Not sure you want to spend your retirement raising kids? That’s okay. In a country where 28% of seniors – 11 million people – live alone, the physical and mental health benefits of simply having social interaction with family have been proven. Social interaction increases longevity and quality of life.
It’s the same reason why senior living communities are growing in popularity. Living among people of similar age, abilities and interests provides valuable social interaction. It’s nice to go next door and find another baby boomer who actually remembers Chubby Checker. If you like to travel, it’s reassuring to know your neighbors know you and have an eye on your property.
As we age, we inevitably face numerous health issues. Having children nearby – and growing grandchildren – provide both a built-in social network and support system. In addition to the occasional dinner and family events, you can also count on help with chores. As physical challenges increase, having a supportive family nearby can make it easier to adapt in old age. Aging generally means an increase in medical appointments and there comes a point where it is nice to have a helping hand driving to the doctor’s office. This kind of support – the kind you’ve earned for your years of giving love and support – can help you stay in your chosen home longer and postpone another major life transition.
Where you choose to live will impact your budget and help determine your lifestyle during your golden years. But if it’s near your kids, it will be much easier for you to help your family, and for them to help you.
