beachBeing able to retire where you want is all about knowing your wants compared to your needs. For some, retiring by the beach is the dream. Identifying your retirement goals will get you to your sandy dream life of your twilight years.

Renting vs Owning

When you were young, the goal was to buy a house. It gave you an asset that worked as an investment, fulfilling the requirement of paying your own mortgage and not someone else’s. You are not young anymore and renting has some new appeal. You can live where you want without the worry of maintenance. Sunny Miami is known for its condo-style apartment living that almost always comes with gated communities, swimming pools and sun decks. Another benefit of renting is that it allows you to embrace your wanderlust. Unlike your family-raising home, there is no tether to a rented unit. Try Miami one year and Virginia the next.

Do You Want To Explore?

For those who read the word “wanderlust” and immediately feel a thrill of excitement, why limit yourself to the United States? The strength of the U.S. dollar and the variation in cost of living in other countries makes an international lifestyle possible and, in some cases, smart financially. Take Hua Hin, Thailand as an example. Hua Hin is a tropical beach city with moderate temperature. It has about half the cost of living as a Florida beach town. You can rent a two bedroom beach house for $450 a month.

The Opportunity of Downsizing

There is a new movement of tiny houses throughout the world. This is more than an idea; it is a way of living. Most people find the practice of downsizing, so that they can live in a small home, very liberating. Memories are made instead of being stored. The tiny house boom lets you put your money into property instead of the house. Look around you and see if the things that you have are holding you back from having the lifestyle you want.

Downsizing on Wheels

A combination of downsizing and wanderlust, get an RV. Simply put, they are small, beautiful and they move. Add to that an RV membership club and you can go from beachfront one month to forest views the next. The new technology has made them easier to drive and maintain. Ultimately, they are much less expensive than renting or owning a home near the beach.

Knowing When To Settle Down

Retirement is a time when dreams and reality collide. It is your job to decide whether this will be a marriage or a war. If you are healthy and adventurous then put your money into exploring. If your body is slowing down then the reality of a retirement community may be in order. Florida and Rhode Island are some of the leaders in great communities that do not infringe on your freedom or pocket book. Explore your opportunities. You might be pleasantly surprised.

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