Retiring Close To Your Family - Is It A Good Idea?

Retiring Close To Your Family - Is It A Good Idea?

It is no surprise that many retirees would like to spend their lives enjoying time with family, children, and grandchildren. But, there also those who would love this time pursuing their passions while they continue to live in their present location.

Many seniors will move closer to their children as soon as they hear the news of a new addition to the family. In many cases, staying closer to the family is certainly the right decision to make for your golden years.

Why? There certainly a few perks:

Financial costs
If you are planning to move, you need to take into account the costs of uprooting your life from your current location and moving somewhere else. But, moving closer to the family also pays off. The first option is to consider downsizing. This not only reduces housing costs, but also reduces utility and maintenance costs as well.

Downsizing to a condo closer to your family gives you are chance to be a part of your children’s, or grandchildren’s lives while maintaining your independence. Moreover, if appropriate for the family dynamic, you can potentially move into the same home, helping your funds to stretch even further. This is obviously a big decision, and should not be undertaken unless all parties involved are comfortable with the new living situation.

Priorities
Moving closer to loved ones certainly beats trying to make new friends in an unknown neighborhood. If you are ready to take a more present and active part in your children’s and grandchildren’s lives, moving closer to them is a great start!
Whether it’s picking them up from school, or attending a soccer game, being able to cherish important moments is a huge perk of being close by. Moreover, you can lend a helping hand by house, baby, or dogsitting to provide your children with some relief. Besides, who doesn’t love spending time with grandma?

Family dynamics
Before deciding to show up in town, it is necessary that you determine how your children and family members feel about you moving closer to them. This takes away a lot of uneasiness from the move, and a warm welcome certainly makes things easier.

For the most part, having family close to your children is an improvement over an unknown sitter. Carpooling, play dates, sports events and family dinners become so much more fun when grandparents are around. This will also help you stay active and involved even when you are no longer working in your full time role.

Bottom Line
In many situations, the pros of this type of move tend to outweigh the cons. You get to be an active part of your grandchildren’s life, and help create memories that you will both cherish for years to come. Your final decision of course is up to you, but we hope that we helped you get the ball rolling!