You invested years and energy into your occupation of choice and the time to retire is drawing near. It may be months or years before retirement, yet ample preparation is essential to yield optimal results. Ideally retirement planning should commence early in your career or at least 10 years prior to leaving the workforce. Financial advisors and professionals coaches offer ample resources and guidance, which can prove beneficial. For starters it’s key to consider housing plans, as this will likely influence other major decisions.

 Researching places of interest provides awareness on demographics, income, diversity, and other data that can influence housing plans. Doing your homework can come in handy before visiting new cities or countries, as it provides insightful information and an understanding of the place prior to making a permanent move.

Below are the Best & Worst Places to Consider When Planning for Retirement:

Bankrate outlines the top five states to retire: Wyoming first place, Colorado second place, Utah third place, Virginia fourth place, and Iowa fifth place. You may wonder, what are the worst places to retire? According to Bankrate, New York and Arkansas would be the worst places to retire, with Arkansas coming in last place.

CBS News outlines the top best places to retire sharing, describing how Wyoming offers many benefits to residents like low cost of living, low crime rate, and light tax burden. Colorado is also top in the list with many positive attributes. CBS News states, “Colorado has several things going for it lately. Its unemployment rate is lower and its population is more educated than the national average.” Third but not last is Utah, which is known for it’s beautiful mountains and rivers. Many young families are growing found of this state, with 29.7 as the median age. In addition to delicious potatoes, Idaho has much to offer residents. Idaho has the incentive of low cost of living with beautiful nature sights. CBS News notes $176,010 as the median home sale price in Idaho. Lastly, Virginia – the state that offers the best of all worlds with the experience of four-seasons and tolerable climate changes. CBS News shares how cities in Virginia, like Williamsburg, provide a beautiful blend of history and modern culture. Retirement planning takes time and preparation. It involves goal setting, research, and financial investments. A good place of inspiration is researching different states or countries that interest you. Consider your budget, retirement timeframe, deadlines, support systems, and personal preferences.  Planning for your retirement can be exciting! Outline the top five places that best suit your personal goals and retirement setting. 

*All suggestions should be discussed with a professional who specializes in retirementment prior to implenting any ideas discussed in this article. This article is only intended for informational purposes.