Moving Might Be a Bad Idea
Selling your home and relocating to a cheaper locale might seem like a smart financial move in retirement. “A lot of retirees immediately decide to move away and start over,” said Leon C. LaBrecque, CEO of LJPR Financial Advisors in Troy, Mich. But moving in retirement can backfire.
LaBrecque said he has a retired client who has moved five times in 10 years. They kept relocating until they found their ideal spot. “It’s a waste of money and energy,” he said.