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Sandy beaches, tropical climates or mountain vistas: retirement dreams are made of these. Most of us fantasize about retiring somewhere other than where we live right now. Realistically, however, there are four key factors that will probably determine where we will retire, including:

Assets. Where we dream of retiring and where we can afford to retire may be two very different things. The size of your retirement nest egg is the single most important factor in determining where you will live, since housing is the #1 retirement expense.

Employment. Research shows that many of us will need to work in retirement, at least in the early years. And many of us will choose to continue working. If you plan to work during your retirement, you will need to live in a place where there are jobs that you want to do.

Cost of living. The cost of living in a small Midwestern town is much different than if you live on the California coast. If you live in a high cost area, you may be able to save a bundle by moving to a state with lower taxes. Before you make a move to a new location, be sure to check out the tax rates on income and real estate as well as estate and/or inheritance taxes.

Health care. The second largest expense in retirement is health care, and you will probably want to have access to good quality medical care, especially if you have pre-existing health issues.

The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.