Before you retire, you might want to think about a strategy that many boomers are considering and implementing right now. That strategy is called pre-retirement. An interesting article in Forbes recently caught my eye. It was entitled “The Best Cities For Boomers To Pre-Retire“. Forbes' notion was that “If retirement is closing in, you might want to move to an alluring metropolitan area where you can work full-time today and then switch to part-time down the road“. Think of it as a test drive for permanent retirement…
My spellchecker doesn't recognize the word pre-retirement, and maybe you don't either. Our definition of pre-retirement is a strategy of setting yourself up for your later years. It involves planning and analyzing each of the variables that allow you to live (the life you want to live) in retirement. Things like; What kind of car do you drive (or want to drive)? How often can you afford to dine out? And, where should you live when you retire?
Forbes cited a recent posting from Nerdwallet.com that lists their top 10 “Best Places For Baby Boomers“. It was based on some pretty smart criteria. Things like affordability (based on cost of living index), healthcare accessibility, the ability to lead an active social life, and public transportation services. Here are their top 10 places for baby boomers:
- Pittsburgh, PA
- Cleveland-Elyria-Mentor, Ohio
- Buffalo-Niagara Falls, N.Y.
- Baltimore-Towson, MD
- Miami-Fort Lauderdale-Pompano Beach, FL
- Louisville/Jefferson County, KY
- Seattle-Tacoma-Bellevue, WA
- St. Louis, MO
- Milwaukee-Waukesha-West Allis, WI
- Philadelphia-Camden-Wilmington, PA
Make sure to visit Nerdwallet to understand their criteria, and for further information on their top destination cities for boomers.