39 Roads

On Travels and Resources
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” Doug Larson

I was recently in Southeastern North Carolina. I visited several communities who are attracting retirees. Carolina Colours, while in its infant state, looks to be a special place near historic New Bern. The first-class developers are working to incorporate the natural landscape with Brice Creek and preserved wetlands. Their golf course is being built with this same consideration. Additionally, they want to make it an active community with a town centre, a pavilion, and open grounds. Call me before you visit the area. I have a few lodging dining recommendations in the area, including Marina Sweets where I had a shrimp omelet with a huge sweet potato biscuit and grits for breakfast and BearTown French Bakery & Bistro where they serve unique sandwiches and delicious soups, including a chilled soup du jour.

I also visited Brunswick County, NC which is becoming one of the fastest growing counties in the country. Sound familiar? From what I was told, they went from not being in the Top 100 to number 29 in one year and are still climbing. It seems that people are drawn by the small beach towns with easy access to the activities of Myrtle Beach and the historic city of Wilmington. Coastal Communities is a top-notch developer with five distinct communities for boating, golfing, beach going, etc. One prospective purchaser reportedly said that the area reminded them of Hilton Head in 1983. I think we all know how that turned out. Good restaurants are plentiful; two of my favorites are in downtown Wilmington: Caffe Phoenix on Front Street and Elijah’s on the riverfront.

In my work I review quite a number of web sites, publications, books, and promotional materials on retirement, relocation, and communities. As to be expected, many I like, a few I don’t, and some I could take or leave. Recently I discovered AARP Magazine Online’s Location Scout only to be greatly disappointed by it. I found some of the questions and multiple choice answers to be oddly worded. Furthermore, after answering I don’t know how many questions about my preferences, I was basically told that there are no matches for me for a place to retire and to go back through the survey and change some of my answers. In other words, there is no suitable place for my retirement- including where I live currently, Loudoun County, VA! I would have expected at least a few suggestions. If you’re from AARP and you’re reading this, contact me. I can help you improve this feature. Okay, enough griping…

On the positive side, I discovered a magazine called Living Southern Style. This publication is well-laid out and uncluttered; it has relevant, informative articles and useful, easily accessible information.

“Don’t simply retire from something; have something to retire to.” Harry Emerson Fosdick
This quote could easily be rewritten to say “have somewhere to retire to”. For many the answer is simply to stay put. The familiar neighborhoods, restaurants, activities, friendships, etc. far outweigh the allure of other possible locations. As Stan Hinden wrote in How to Retire Happy, “We realized that if we moved, we’d have to adjust not only to a new climate, but to a new home, new geography, new cities and towns, new highways, new newspapers and TV stations, new libraries, new businesses, and new customs.” The prospect of moving can be a daunting task in any phase of life but how much more so when you’ve been in the same area for 10-20 years or more.

Your home may be comfortable and continue to fit the new lifestyle found in retirement. A reverse annuity mortgage may allow the financial freedom for you to be able to stay in your present home while providing you with a monthly income. You may wish to consider universal design to make your home more accessible. See www.design.ncsu.edu:8120/cud/ for more information on this concept.

You may want to look into downsizing or finding a retirement community near your current residence. One obvious advantage is keeping the familiar of the area while getting a fresh start. You may be able to reduce housing expenses or eliminate a mortgage altogether if you have enough equity in your current home.

For you the idea of changing locales may hold tremendous appeal, but you may not be ready to jump right in. What are your options? First, you may want to visit more than one community which holds potential for you and your spouse. Visiting at different times of the year will tell you if the college town is active during the academic year but too quiet in the summer or if the beach you enjoyed for vacations in the summers is empty in the winter. Staying for longer periods of time will also give you a feel for life on a daily basis.

A next step may be renting a place for an entire season. Now you’re taking part in the daily life of social clubs, outings, etc. without having made a substantial financial commitment or a decision that later may be hard to reverse. You now begin to get a better sense for whether this is a place that you would like to live long-term.

Another option that you may want to consider is owning two homes. The upside is being able to live where you want when you want and changing locations as the desire or need arises. You can be right back in the old neighborhood or at your retirement destination for days, weeks, or months at a time. Of course, with two homes you have more management issues. You may want to consider renting one while you’re at the other to help defray costs, but this comes with its own set of headaches and reduces flexibility.

There are so many exciting choices–and there’s no right one for everyone. Yes, there are questions to be answered, but, oh, what an amazing journey!