Retirement isn’t just a milestone—it’s the start of something truly exciting. After all those years of hard work, now’s your chance to slow down a bit, dive into new passions, and really enjoy life your way.
But with this exciting new chapter comes a few big decisions. One of the biggest? Whether your current home still fits the lifestyle—and budget—you’re aiming for in this next phase of life.
That’s a really important question—especially right now. In just the last five years, the cost of living has gone up by 23%, according to the Bureau of Labor Statistics. That’s based on the Consumer Price Index (CPI), which measures how the prices of everyday goods and services have changed over time (check out the graph below):
When you’re figuring out how to make your retirement savings go the distance, those rising costs really do make a difference. And if you’ve found yourself wondering whether your money will last as long as you need it to—don’t stress. You might have more options (and control) than you realize.
One way a lot of retirees are stretching their savings is by relocating—because in some areas, your money really does go a lot further.
Moving to a more affordable area can really help you cut back on everyday costs like housing, utilities, and taxes—especially if you downsize while you’re at it.
And that can free up more room in your budget for the fun stuff—the things that make retirement truly special. Think travel, hobbies, spoiling the grandkids, or finally checking off those bucket list dreams you’ve been looking forward to.
That doesn’t mean you have to move—it just means it’s worth thinking about where you want to live and making sure your savings line up with the cost of actually living there. It all comes down to good planning. Like Go Banking Rates puts it:
“How much you should have saved for retirement depends on a few key factors, including your location. Where you choose to spend your golden years is critical.”
And you don’t always have to move far to see a difference. Sometimes it means heading out of state, but other times just moving from the city to the suburbs can really stretch your dollars. It’s definitely something to keep in mind as you plan for this next chapter.
Whether you’re thinking about downsizing, moving closer to the grandkids, or relocating somewhere your savings go further, a real estate agent can be a huge help. They’ll work with you to explore the options that fit your goals and make selling your current home a lot smoother. Plus, if you’re planning a big move, they can connect you with reliable agents in other parts of the country.
Bottom Line
You’ve put in the effort to build a future you can enjoy. If your current home or location isn’t quite fitting that vision anymore, it might be time to see what’s next.What does your dream retirement look like? And could a move help make it even better? Let’s chat about how we can turn that vision into a reality.
