John, good to see you today we were talking through five things to consider before relocating in retirement. Retirement offers an opportunity for new beginnings and adventures. Maybe that means moving to the beach, maybe the mountains, maybe it means moving closer to family. But before you move you recommend we first consider a few things. I know this is really important to you, you and Tommy just did a great podcast on it, but number one, cost of living. And this is essential because it means whether you’re money is going to run out in retirement.

Yeah. And you know, we see this a lot with the “Cal-exit”. I've helped my clients who have moved to other states from California. The cost of living obviously in Southern California is one of the highest in the nation. I think, Tommy and I, and our guest Rebecca talked about this, also with New Jersey and New York. Oftentimes people are moving out of these areas because of the cost of living. And you'll understand that if you moved from you know, if we’re talking about Southern California, if you’re moving from Southern California to say Arizona, Texas, Nevada, or another one popular one, Tennessee, just consider your housing, your utilities and your overall cost of living. That's gonna you know, either be saved or incurred, right. If you're downsizing your house here in east-side San Diego, you know, in the hills, and move into the beach. Well, is that really going to be cost efficient? Because we want you to live life to the fullest in retirement. We don't want you to be a professional penny pincher and you know, your thoughts on dinner or going to Costco to get those free samples.

But those samples are so good John!

I know Erin, they are great. My kids love them. But we want you to have those samplers, and then actually buy the product.

I love it. Alright, number two, you have to consider healthcare not only the access, but the quality, which becomes increasingly important and expensive as we age.

Yeah, and I really liked the first point. The access. A lot of people are Medicare, a lot of people are using Medicare Advantage. Understand is your network covered out there? And you know, if you have health problems, you know, does your doctor, you know, do you have a good specialty doctor in that area? Even further so, you know, talking on a personal level, we had to take my son to the ER on a recent trip to Arizona and it was about an hour drive to a good children's hospital. So understand that if you're retiring, what kind of good trauma facilities, because there are different levels of hospitals, are you near a trauma facility that can handle you know, a major heart attack or stroke? Because those are life altering events and you don't want to be an hour away or even worse, have to go to the local hospital and need a Lifeflight to a trauma center. So you want to definitely consider healthcare as a major point.

Yeah. Number three, your social support network. If you move you may leave behind friends and your support system.

Yeah, and you know, this is a big thing with transitioning to retirement that a lot of people have to consider. What is your support gonna be around? And it just shouldn't be new people right? A lot of people need to follow family or they might go and follow friends. That's important. You don't want to be too far away from those people that you're gonna miss and love. And you know, in Arizona, we go and we visit our in-laws that moved there only an hour flight or a five hour drive, but also does place, the new area that you're moving to have a good social retirement community. There's a lot of 55 and up communities and you know, you can join one of those communities and become a professional pickleball player, which then alludes to point number two of, you're probably gonna need some good health care every now and then. Or you might just become that professional bingo announcer at the over age 55 and up community.

And I would do a great job at that for what it’s worth.

Yes you would. You were on Television Erin, you could definitely be a pro bingo announcer.

That would be my retirement plan, that and the Costco food. Alright, number four, of course, tax implications. There are a lot of reasons why people leave California for those other states.

Yes. And you know, going back to where do we help people move out of state, looking at the cost of living, you have to consider taxes. We do tax performance for all of our clients. We've shown clients Hey, listen, if the cost of living was the same, which it isn’t, based on taxes, you're gonna say perhaps $200,000 over the course of your retirement moving to another state. That’s substantial. But buyer beware, you have to understand what states have very high property taxes, what states that the state that you're moving to, what their state and local taxes are, and lastly, if that state actually has estate taxes. So you know, things to consider.

Yeah a lot. And then you've touched on this one already, of course, but you need to consider climate and lifestyle preferences.

Yeah. What do you really want to do? I encourage all of my clients that lead a healthy lifestyle that at least involves walking. That's pretty hard to do in the wintertime if you move to Montana. So understand that. You know, retirees especially as the joints get older and whatnot, we prefer a warmer climate, a warmer climate is easier to stay active in. So you know, understand, do you want the ocean nearby? Well, cheaper costs of living, may be Florida v.s. San Diego or Southern California. Or do you want a mountain desert because that's where you have Arizona and a lot of people from Southern California have actually moved out to ugh, and they're gonna hate it, I’ve got some clients that are gonna probably email me saying “don’t say this”, but a lot of people moved out to Lake Havasu. And they spend a good portion of their time on the river, on the boat, enjoying life.

You know, John, I really appreciate that you think outside of the financial equation when it comes to retirement. A lot to consider before moving into retirement. And I know that you have so many tools and resources on the website. How can people learn more if they are thinking about moving or relocating in retirement?

Yeah, well, you can follow us on several social media platforms. Youtube being number one. Subscribe. We have youtube shorts that come out if you don’t want to watch the whole video. We put out a ton of content. The RetireHappyPodcast.com. has more in depth content. We have our Facebook or extra Twitter channel. And you can always visit us at www.gosecurus.com where we have all of our videos, blogs, and past podcasts. And hey Erin, while you’re on the website, visit the Contact Us Tab where you can schedule a 15 minute phone call where we will answer any general questions, or you can schedule a complimentary vision and clarity consultation. And if you like doing things the old fashioned way, just give us a call at the office at 858-935-6210. Ask for Emily Wale, and she will put you on my schedule.

John thanks so much for your time today.

Thank you, Erin.