With more time on their hands and more cash to spare, retirees usually find themselves paying off mortgages, loans, and other credits. Retirees are sometimes fond of hobbies like touring, volunteering, and farming. However, for some, returning to the workforce as part-time employees may be a necessity. Many retirees may explore other states to live in after retirement, find opportunities to improve cash flows, and invest in money-making ventures. Retirees must consider different factors and personal circumstances to make a viable decision.
What Are Your Retirement Plans?
More than 338,000 American retirees move out of their home states to settle in other places where they can enjoy their newfound freedom. The number one destination for retirees is the Sunshine State down south. Florida is well known as the number one retirement place of choice. Not far behind, however, Texas and Arizona are also rising as prime destinations for newly retired Americans. If you are going to retire from work, have just retired, or a retiree seeking new ideas, read on.
What Retirees Look For
If you are one of the new retirees this year, here is a list of what many retirees before you have included in their preferences when looking for their place to settle into.
1. Health Care Facilities
Retirees want accessible healthcare facilities when choosing where to settle. As retirees age, the need for regular health checkups becomes a reality they need to face. As they say, health is wealth.
2. Recreational Amenities
As one who has just come out of the workforce, recreational amenities will save you from boredom. These facilities will allow you to stay active and connect with other people and retirees in your chosen community.
3. Senior Population
Sometimes, the number of seniors who have made a city their home designates it as a retirement hub. Thirty percent of the population in one of the small cities are seniors and retirees.
4. Vibrant Community
A vibrant community is indicative of a vibrant economy where there are a lot of activities for people of all ages. Most retirees would love a community that offers a lot of activities. Voluntary work is also welcome, and working part-time shall give them a reason to look forward to every day.
5. Low Crime Rate
To feel safe is a priority for all people, especially people who have just retired and are starting new chapters of their lives. Crime rates alone, however, do not define its desirability. You can go to cities with single-digit crime rates but they display barren economic activity, a handful of residents, and the absence of amenities.
6. Home Prices and Rentals
Home prices are another factor to consider when retiring in other places, especially if you wish to own a home and live permanently in your adopted city. However, if you choose to live where home prices are relatively high, you can also consider renting. You may even be able to find relatively affordable rentals in the area and enjoy your retirement without thinking much about the responsibilities associated with home ownership.
Deciding where you wish to retire is a careful balance of factors that can affect you directly, like the ones suggested above. Evaluate your choices carefully according to your criteria, priorities, and personal circumstances.
Top Retirement Places in Texas, According to Locals
Here are some places in Texas where you can enjoy your retirement. We picked 3 favorites from this list, from a city with a large population to a small town with a relatively small population.
Houston
For retirees who prefer a highly urbanized setting, Houston is one of the best cities you can retire in Texas. Being the largest among Texas cities, it is home to many recreational facilities, art and cultural museums, and volunteer-based organizations for a busier retirement. Houston is also home to various medical facilities crucial to retirees. There is a lineup of festivals in Houston catering to art, culture, and the culinary scene all year round that will keep you busy, entertained, informed, and satisfied. Houston’s crime rates are dropping compared to previous levels during the pandemic. As an alternative, San Antonio also made this US News list.
Austin
Settle in Austin if you love the vibes of a smaller city compared to Houston. This Capitol City is home to a population that is less than half of Houston’s. There are lots of parks and trails in the city, and you would not want to miss an atmospheric phenomenon, the reason why it is also known as the City of the Violet Crown. There is also lively dining and shopping accentuated by live music. The city has a diverse population that will make your retirement lively.
Fredericksburg
Fredericksburg is a small city with only 11,000 people. Many retirees have made this city home. Thirty percent of Fritztown’s residents are seniors. You can choose from many restaurants, fine dining, museums, farms, vineyards, and wineries that offer activities. This unique town is also a popular tourist destination. The Burg, as it is also called, is a small city with amenities you can find in other large cities.
Keeping The Cash Flow Positive
Concern about keeping finances at comfortable levels is also an issue for retirees. Coming into a new chapter in life, retirees also look for alternative sources of income to augment their cash flows because their funds may be less than their previous income. Augmenting the cash flow will help leverage against the rising costs of healthcare and possible economic disturbances.
Most retirees thus re-enter the workforce but with lower compensation and hours. Part-time jobs allow them more time for recreational or volunteering activities.
Our Co-Lending Partnership
As a retiree, if you are one of those who seek better cash flows, there is an alternative you can explore. Be a Co-Lending Partner with hard money lenders and earn income from loan interests. GL&L Holdings is a lender with an investment program for those interested in earning passive income. Some of our borrowers have even become co-lending partners of the company. One reason is that GL&L Holding’s lending process and policies ensure monthly interest payments. You can choose from many investment options with corresponding returns on investments.
You can check full details of our private lender program here. If you want to know more about retirement planning through real estate investing, read one of our blogs.
Our Final Word
Life-changing choices face retirees that will define how they will live for the rest of their lives. Cash flow, overall health concerns, and poor purchasing power are issues that concern most retirees, even if they seem like enjoying an easy lifestyle. One way to address this is to have better cash flow.
You can improve your cash flow through investing if you are a retiree who wants to maintain a healthy and easy lifestyle. Invest part of your available funds in one of GL&L Holding’s co-lending partnership options. You can receive passive income monthly from your investments and free yourself and your family from potential future financial worries. You can click here for more info, call us at 832-770-9415, or email us at info@gllholdings.com.
