Ep 67: Which Retirement Lifestyle Is Right For You?

Today's Hack

As we finish off the year, we’re all dreaming about a lifestyle that looks a bit different than this one. What are your retirement lifestyle goals?

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Show Notes For This Episode

Today’s Hack:

As we finish off the year, we’re all dreaming about a lifestyle that looks a bit different than this one. What are your retirement lifestyle goals?

Click the timestamps below to jump ahead in the episode…

Video Version:

Other Retirement Facts:

Have you thought about what you want your retirement lifestyle to look like? Have you shared those thoughts with your spouse and financial advisor? Which one of these lifestyles would suit you best?

As we move into winter, are you dreaming of warmer days? In retirement, are you considering life as a snowbird? If you are tired of the Michigan winters, places like Florida or Arizona sure do sound nice. What are the pros and cons of having two homes in two different states? Are there tax savings to consider?

Are you itching to see the country? Some like to retire in an RV and hit the road. Phil relates to this lifestyle and hopes to do this more once he’s retired. Is it sustainable? Will you still keep your home? What kind of camper will you get? Will you travel with another vehicle?

Did you want retirement life to be all about living it up where you already are? There is nothing wrong with enjoying some time on the front porch. This is going to be less expensive than some other retirement styles. COVID has kept us all at home more this year, but it might not feel quite so much like lockdown when you get to see friends and family freely.

Do you like being active and social? Feeling young at heart? Some retirees like living closer to a college town, which brings big sporting events, concerts, and other cultural events. Places like Nashville or Austin might fit the bill if this is your thing.

Maybe you don’t want two homes but are more ready to move altogether. Florida is a popular spot for a reason. What are some of the best features of Florida? Are you ready to golf several times a week? Whether you live in Florida or not, make sure you budget accordingly.

Whatever your retirement dreams are, make sure you have it thought out. Do you have a plan in place to make it possible?

Listen to the entire episode or click on the timestamps below to skip to a particular end of year planning strategy.

1:11 – What are Phil’s end of the year plans?

1:54 – What’s your retirement lifestyle plan?

2:34 – Snowbirds: the two-house solution.

6:06 – RV Life: hitting the road.

11:50 – Front Porch Life: sticking close to home.

14:23 – College Life: filling your social calendar.

15:45 – God’s Waiting Room: enjoying the Florida life.

17:37 – Golf: plan for your pastimes.

19:18 – Follow your passions in retirement.

Thanks for listening! We’ll be back with another episode next week.

A Quotable Moment:

“You’ve worked all these years, now it’s time to maybe step back and enjoy it, however that enjoyment works for you.”

-Phil Putney

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