Does Your Current Home Fit Your Retirement Plans?

Does Your Current Home Fit Your Retirement Plans?

Retirement isn’t just a milestone — it marks the start of a new and exciting chapter. After years of dedication and hard work, it’s your time to enjoy life at your own pace and pursue what truly matters to you.

But entering this phase also brings some important decisions, especially when it comes to your living situation. One key question to ask is: does your current home still suit your lifestyle and financial goals?

That’s more relevant than ever. In just the last five years, the cost of living has risen by 23%, according to the Bureau of Labor Statistics (BLS). This is based on the Consumer Price Index (CPI), which measures how the average cost of goods and services has changed over time (see graph below):

As you think about how to make your retirement savings go further, rising costs play a big role. If you’re concerned your money may not stretch as far as you'd like, the good news is—you may have more options than you realize.

One approach many retirees are taking is relocating. That’s because some areas offer a lower cost of living, allowing you to save on essentials like housing, utilities, and taxes—especially if you downsize at the same time.

Those savings can open the door to the retirement you’ve envisioned: whether that’s traveling, picking up new hobbies, spending more time with loved ones, or simply enjoying life more freely.

This doesn’t mean you have to move far. Sometimes relocating just outside a major city can have a big financial impact. What matters most is considering whether your current home and location still align with your financial goals and lifestyle needs. As Go Banking Rates puts it:

“How much you should have saved for retirement depends on a few key factors, including your location. Where you choose to spend your golden years is critical.”

If you're exploring the idea of downsizing, moving closer to family, or relocating to make your savings go further, a real estate agent can help you understand your options. They’ll guide you through selling your current home and can also connect you with trusted professionals if you're looking to move out of the area.

Bottom Line

You’ve earned this time in your life—make sure your living situation supports the freedom and joy you’ve worked for. Thinking about a move? Let’s talk through how to make that transition as smooth and rewarding as possible.