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Money Matters: Where’s the best place to retire?

Published: Aug. 24, 2021 at 6:43 PM EDT|Updated: Aug. 24, 2021 at 6:59 PM EDT
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COLUMBIA, S.C. (WIS) - When it comes to retirement, many people choose to move to a nice climate, to the coast, or to the mountains.

Does it make a difference financially where you choose to live in retirement?

Josh Bradley of Capital City Financial Partners says it absolutely does.

“We’re all drawn to those exotic locations,” said Bradley. “If you begin to run out of money, it’s tougher to move back once you’ve gone abroad.”

When deciding where to live in retirement, it’s important to look for things like healthcare, safety, taxes, or just generally knowing what types of activities you’d like to have available to you during retirement.

Protecting yourself from making the wrong decision on where to live is an important element to the mix.

“Having a dream of going up to the mountains or out west... we always say -- maybe you’ve visited those places throughout your lifetime, but if you’ve never lived there, going through a test run is key,” Bradley said. “Commit yourself to spend at least a month, in all seasons, in the location that you’re going to.”

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