CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
1021223-00006-00
Nate Obringer, RICP®
Financial Advisor
Prudential Advisors
9800B McKnight Road, Suite 223
Pittsburgh, PA 15237
Phone: 412-318-4129
Fax: 877-840-2322
Email: nate.obringer@prudential.com
January/February 2021
Relocating During Retirement
If the time has come for you to downsize, become a snowbird or you’re simply ready for a new adventure, consider the following when relocating during retirement.
Review Costs
If relocating means purchasing a home in your new location, review your income and expenses to see how much house you can afford. Securing a mortgage as you get older may be more difficult. Lenders may require shorter terms or require a guarantor.Also remember to consider maintenance costs on the new home. You may be able to do smaller repairs and maintenance yourself now, but you may need to hire professionals in the future. There are communities that will provide some maintenance services for owners. But that comes with a homeowners association fee that can be hefty. If you don’t want to worry about home maintenance, consider renting.
Don’t forget to review the cost of living amounts in your new locale.
Lifestyle Considerations
A change of location involves more than just considering monetary costs. Don’t forget to think about lifestyle concerns.If you’re moving out of the country, ensure your health insurance will cover you. And more importantly, ensure health care in your new location is high-quality. Are there reputable doctors and hospitals nearby? If the nearest doctor’s office is not close and you aren’t planning on buying a car, consider how you will get there.
If you’re moving far away from friends and family, be sure there is an airport near your new home if you want them to visit you often. Also consider the cost of flights from your new location if you plan to do a lot of travel. Ensure you’re moving to a safe location. Research crime rates to know if there are any problems.
If you’re looking to escape the cold, be sure you’re comfortable with the new climate. If being active is important to you, look for places that have activities you’re interested in. Getting involved in your community and doing things you enjoy can make for a smooth transition.
1040670-00001-00
Offering investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Prudential and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Prudential, the Prudential logo, and the Rock Symbol are service marks of Prudential Financial Inc., and its related entities, registered in many jurisdictions worldwide. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Prudential Advisors and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.