Boomers and those approaching retirement are prioritizing happiness over affordability when deciding where to spend their golden years.
The city of Naples, FL, with its pristine beaches, world-class golf courses, and year-round sunshine nabbed the top spot in the U.S. News & World Report’s 2025 Best Places To Retire list. The median list price is $749,000, more than $300,000 over the national median.
Coming in second was Virginia Beach, VA, with a median list price of $425,000, which also boasts beaches and waterfront restaurants. New York, NY—where the median list price is a staggering $1,599,000—came in third due to its easy access to theaters, restaurants, and bars.
But there are other important factors to consider “when thinking of relocating and starting a new life,” says counselor Michael Anderson of Elizabeth, CO. “There are lifetime goals and priorities that every individual must consider.”
Since where to retire is as crucial a decision as when to retire, it’s certainly not something to be taken lightly. Here are six essential steps every retiree should take before making a final decision.
Create a budget
Once you start narrowing down potential retirement locations, it’s important to ensure you can afford to live there.
“It is super important to make a budget before making a big move, especially if you are on a fixed income. You don’t want to get in over your head, especially if you are moving to a place that is far from the support of family and friends,” explains Gary Massey, managing director at Massey and Company CPA based in Atlanta and Chicago.
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