Friday, May 16, 2014

A Retirement Research Tool

Since we are 4 years pre-retirement, we are into the research "where we want to live in retirement" phase.

I was surfing around some blogs and found this Cost of Living Comparison Calculator.
I can't recall who's blog I found this through....if it was you, let me know so I can credit you for giving me this idea.

Anyway go HERE and put in where you live now and where you are considering living and it will give you an idea of where location B stands in terms of costs to location A.

Be prepared to be surprised by some of the comparisons....I sure was!

As with all online calculators take what it tells you with a grain of salt.
Also, they show the categories and specific items they use to make their comparisons which is a good thing.

So far, everywhere I am considering moving to in retirement is LESS expensive than where I live now.

That's a win in my book!! lol

So tell me how your location compares.

Sluggy

5 comments:

  1. I can't afford to retire; I am mortgaged til I am 85 (got 25 years to go).

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  2. Cool! I think I will just stay where I am. Unless I go to the UK.

    Peace <3
    Jay

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  3. I just compared our current city of Portland to where we're moving to in Hawai'i, and while I think it's a good wake-up call that things are *generally* more expensive there some of the prices listed are frankly exaggerated. They are comparing apples to oranges. For example, electricity prices are higher, but the prices listed in the comparison are if you used electricity exactly like you do on the mainland. The reality is that people don't use it the same there - everyone makes adjustments: grill more vs. cooking on the stove or in the oven; hang clothes out to dry; don't run a/c because of the tradewinds, etc. Yes, prices will most likely be higher than one is used to, but they don't need to be as outrageous as the price listed in the chart. Likewise for rent and some other things. Costco prices for food are pretty much the same as they are here in Portland, and the farmer's markets there are fabulous and cheap, so there are ways to shop smart and keep your food costs down.

    The chart also doesn't inform that federal, state and non-contributary pensions are not taxed by the state of Hawai'i - not true for many other states.

    All this is to say that while these charts are a good guide, they are not the be all to end all. There is nothing better than going and seeing things for yourself what the reality is, and doing a lot of research and talking with people who actually live there.

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  4. Where I would like to be is 6.7% higher than here. It is a Southern town, also. I actually don't think the figures are outrageous even if wrong. No one knows exactly how I live or what I expect, so I call it even on this one. The difference is so small that I would not hesitate on the basis of the chart. Now, I will just poke around and see how other cities measure up in comparison. Thanks for giving me another way to waste time beyond the initial task...lol.

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  5. The chances of me retiring are slim, so i don't think really of the future or retirement.

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