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Is one of your retirement goals to leave your old home behind for a new location? Maybe family is important to you and you want to move closer to them. Or you want to make your vacation home your full-time home. Whatever your reason, here's how to prepare without putting your retirement goals at risk.
Research your new city's cost of living. This could include taxes (property taxes, sales tax, state income tax), home values, insurance costs and even grocery costs. (An extra $200 a month in groceries may not derail your retirement but could impact your monthly budget.)
Assess your current situation and develop a strategy.
Meet with your financial advisor. After doing your research, share with your financial advisor what you've found and factor it into your retirement plan as well as other parts of your financial strategy. This could include partnering with your financial advisor and estate professional to determine whether your estate strategy might need to be adjusted. It's also important to talk about how you and your financial advisor will continue to communicate and ensure you stay on track while at a distance.