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Whether to pay off a mortgage before or just after retirement is a topic I have addressed before. But, it is such a major decision, I get at least one email every few weeks asking my advice. No wonder. With nearly 30% of all those 65+ having monthly mortgage payments, it is important to make the best choice for you.  As I write this, the picture is anything but clear. Plans for a tax cut are bouncing around the halls of Congress. As of now, mortgage interest deductions would be protected. But, an increase in the standard deduction and a change in personal deductions might be coupled with the loss of real estate tax deductions, making house ownership potentially more expensive for some.  So, for purposes of this post, let's stick with how things are right now. After the dust settles in Washington and there is clarity (?) I might do a followup to adjust to the new reality. Retirement brings its own unique set of concerns and decisions. Near the top of many lists is a decision ab...

Even though only a small percentage of folks decide to move shortly after retirement, it remains a topic of real interest to many blog readers. Part of the image we carry into retirement is a move to a beach side cottage or mountain chalet. We leave behind cold weather or the desert heat and live out our years of freedom in a place that keeps appearing in our dreams. One of my most emphatic cautions to someone who has recently retired is to not move right away. There are so many adjustments retirement requires that to add the stress of a relocation is dangerous to one's health and happiness. Certainly, after careful consideration and time, moving to a place that would make someone happy is encouraged.  Even then, there are five key questions that need to be asked. If living with someone, his or her responses are just as important. To move when only half of a couple agrees can lead to an unhappy environment.  1) How much will you miss the familiarity of wher...

A growing trend among retirees is the desire to remain in one's home as long as possible. In fact, a recent study quoted by AARP shows 87% of those 65+ want to age in place for as long as it is safe. Even among those 10 years younger, 71% would opt to stay put. Familiarity and community ties are the biggest draws. Even so, the market for retirement communities remains strong,  such as Jimmy Buffett's new retirement community approach . Sun City communities and other planned offerings have adjusted to a more active lifestyle and the positives of providing care that includes nursing home facilities.  The ability to choose between staying home or moving to a retirement community or coop housing setup is a new development. In part, it has occurred because there are more options available to receive medical care in one's home. With nursing facility costs out of reach for many retirees, it is good news that other choices exist. For purposes of this post, let's assume you woul...

A previous guest post, Downsizing To a Forever Home , generated some interesting comments about where to retire: an urban setting, long time home in the suburbs, smaller town, or in a more rural setting. Author, Barbara Hammond and husband, Dave, moved from Philadelphia to the seaside town of Cape May, New Jersey. She says the couple have found the perfect place to put down roots. It has a busy, resort feel in the summer and a quiet, locals only vibe during colder weather. That post prompted a suggestion to ask some follow up questions about the benefits and pitfalls of each retirement choice. Betty and I gave serious thought last year to a move to downtown Phoenix. After 30 years in our suburban Scottsdale home we liked the idea of a more vibrant environment, public transportation, and being close to restaurants, theaters, museums, and sporting venues. The smaller housing options were what we thought we wanted, too.  Well, that wasn't our final choice. Being close to fam...

One of the bloggers I enjoy following is Barbara Hammond.  Zero to 60 and beyond  is a lively chronicle of her retirement journey.  More than that, it is a place she shares details of her turbulent and difficult childhood, a journey soon to be turned into a book. I look forward to her thoughts and beautiful photos on Facebook.  At one point I discovered that she and I actually worked at the same time for competing radio stations in Pittsburgh, she in sales and me in program consulting. Small world! After too many moves to catalogue, she and her husband made a dream come true: they moved from the big city to a small seaside resort town at the southern tip of New Jersey. I asked if she would give us an overview of what that journey looked like and some of the adjustments she had to make to downsize to a smaller town. " I didn’t see an ocean until I was seventeen. I had lived on the edge of Lake Erie my entire life. It wasn’t for lack of moving ...

How many of us dream of packing up our belongings and moving to Hawaii? The lure of endless sunshine, warm temperatures, seeing the ocean every day, and living close to nature are powerful pulls. How many of us actually make that change? Blogger Laura and husband Brett are one couple that left rainy and chilly Portland for the perpetual summer of Kauai. After a few years of diligent research, serious downsizing, and a willingness to make major lifestyle adjustments, they made their dream a reality. Laura is a regular reader of Satisfying Retirement. I asked her to share her story. She graciously agreed and has provided me with a wealth of information. Her own blog, The Occasional Nomads , provides a fascinating glimpse into all aspects of living over 2,600 miles from the mainland. With her permission I am going to take parts of her past posts and e-mails to me and reproduce them here. I will add some of my own comments to her narrative. Some of what she has to share is what I expecte...