Real Estate Blog - Retirement

2020's Best States to Retire

Adam McCann of WalletHub.com does the research for you on the best states for retirement. WalletHub.com compared 50 states using 47 key indicators of retirement-friendliness. Their analysis covers affordability, health-related factors and overall quality of life. 

Overall, Delaware comes in 6th for the overall ranking, preceded by Wyoming, Utah, New Hampshire, Colorado and Florida at 1st place. Delaware also came in 2nd for "Best WalletHub Taxpaper Ranking". 

For the full list of rankings, methodology behind these rankings and various factors to consider when choosing where you would like to retire. 

McCann, Adam. “2020's Best States to Retire” WalletHub.com, 13 January…

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Should You Buy Your Retirement Home Before You Retire?

Kristin McKenna of Forbes explains what to take into consideration when deciding when to buy your retirement home.

When should you buy your retirement home? There are many factors to consider when making that decision. You may have good reason to purchase your retirement home before you officially retire. Finding the “perfect” home or justifying the purchase of a vacation home could be two reasons. Purchasing your retirement home early and vacationing there can be a great way to explore and get to know your new city or town before becoming a permanent resident. Depending on your situation, you might consider renting out your second home to gain supplemental income.

While this may work for some, it is important to consider that your needs and even…

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My Work Life Is Over. What’s Next?

Kerry Hannon of The New York Times explores why some retirees find themselves without a plan as they look for a new sense of purpose.

Some view retirement merely as a change from working to not working but it is so much more. Many retirees struggle with isolation and loneliness as they navigate their new life feeling a loss of identity when they no longer are working. For many, your identity is linked to your work life and plays a bigger role in your identity and connection to people than you realize.

The pressure to feel happy can also become very real as you are thought be living in the “best time of your life”. Many of your relationships change or can disappear when you move away from your working life. The human connection is a factor in the…

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Is an Active Adult Community right for your retirement?

If you are planning on retiring soon, you may have considered the idea of moving into an active adult community. Brad Breeding of My Life Site, gives us some pros and cons of choosing to live in this type of community.

Not to be confused with a retirement home or assisted living, an active adult community is made of single-family homes, condos or townhomes that are owned by the resident with at least one member of the household being over a certain age (usually around 55 years old). Typically, these communities feature their own amenities in addition to be close to shopping, restaurants, attractions, etc. Low-maintenance or maintenance-free exteriors and common areas are the norm with interior upkeep being the responsibility of the homeowner. Active…

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Planning for a Happy Retirement

Michael Rubin from The Balance talks about what you should consider for your retirement to get the most out of this time in your life.

While most people look forward to all of the new found free time that retirement brings, we’ve learned that the “honeymoon” period of retirement only lasts 6-9 months. After that time period retirees report feeling the urge to become more productive.

The first step is determining what you want out of your retirement. Consider what type of personality you have, what your favorite hobbies are and what brings the most joy. Studies have shown that retirees who keep busy with regularly scheduled activities tend to lead happier lives during retirement. Just like in all stages of life, keeping engaged can help with your…

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Moving to the beach - could it help improve your mental health?

Colby from The Washington Post shares why there is research backing the notion that living near the water (aka at the beach) can improve mental health.

You are not alone if your dreams of retirement include views of the water, your favorite beach chair and weekly trips to the sand and surf. That feeling of relaxation, fun and overall happiness that coastal life can bring is now backed by research as a contributing factor to improved mental health. Research from Michigan State University shows that people who lived near the water reported less psychological distress than the people that lived without water views. In this and other studies, it was found that while nature of the green variety (think forest or park) can be more desirable than urban areas,…

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Retiring in Delaware – What are the Advantages?

If you are thinking of retiring soon and are wondering if Delaware might be right for you, let us share some insight from Jane Meggitt of ZACKS, an investment research firm, the  that might be helpful in your decision.

Delaware offers multiple tax benefits for those reaching retirement age. While some of a retiree’s pension and 401K is subject to federal tax and state tax, anyone over the age of 60 is allowed a $12,500 exclusion for pensions or eligible retirement income. Property tax is considered low compared to many other states and if you are a 65 or older homeowner, you qualify for a tax credit of up to $400 on your primary Delaware residence. Also, Delaware does not have Sales Tax, a benefit that those of any age can benefit from.

With a…

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