Outline the parameters for your retirement destination. Make two lists. On one, list all of the features you must have. On the other, list those things you absolutely do not want. Include physical amenities, such as parks or golf courses, and also less tangible elements, such as social connections or activities.
Evaluate your financial situation. List income sources and the amount of money they generate per month or per year. Compile any debts, recurring bills or other financial commitments that will continue during retirement. Subtract your total expenses from your total income to see what funds you will have available each month.
Consider international destinations and domestic locations. Compile a list of any languages and cultures you are familiar with, although international destinations are still a possibility even if language is an issue.
Decide what percentage of the sum you came up with in Step 2 that you are comfortable devoting to housing and related expenses. This number will go a long way to determining what destinations you can consider. Consult a cost-of-living index and jot down locations that coincide with your financial situation.
Research the transportation options in the cities you identified in Step 4. Check the distance to the nearest airport or major transportation hub and the frequency of flights or trains if you plan to travel extensively in retirement, or if relatives will visit you often. Rule out any cities that do not have adequate transportation options to meet your needs.
Identify the main medical facilities in the cities that remain on your list. Find the names of specialists in the area for any medical conditions you or your spouse already have and check their reputations. Research senior services in the area to make sure your needs will be met as you age. Rule out any cities that do not adequately meet your medical needs.
Visit chamber of commerce websites for the locations that are still on your list. Check out restaurants, activities and entertainment opportunities. Consider the hobbies you plan to pursue in retirement and whether these locations have the facilities to meet your needs.
