5 hot retirement destinations – at home and overseas
If you’re planning to downsize when you retire, or you’d just like to chase the sun and find a community of like-minded people, then here are some retirement destinations worth considering.
Top retirement destinations
You’ve worked hard towards your retirement and are looking forward to enjoying the rewards your new freedom brings. Now that your children are independent and you no
longer need to be close to the office, you may be considering a change of pace and lifestyle. You might even be thinking about cashing in your retirement savings and moving interstate or overseas.
Remember, a short holiday is no guide to whether you would like to live in a community full-time. Every place has its advantages and disadvantages, so make sure you’ve done your homework before you take the plunge.
Making a sea change
Margaret River, WA.
Western Australia’s pristine coastline offers great beaches, great food and of course, outstanding wine. Only a few hours’ drive from Perth, the Margaret River will appeal to those seeking a creative enclave. But it also attracts a steady stream of tourists, making it a little busy for some seeking a quieter lifestyle. Sunshine Coast, QLD. One of Australia’s most popular destinations for retirement, over 65s make up almost one-fifth of the population on the Sunshine Coast1, drawn to its relaxed ‘surf and sun’ lifestyle. While housing and medical care make it easy to settle into this community, there are fewer opportunities here for those looking to work
in their retirement.
Making a tree change
Hunter Valley, NSW.
An escape from the hustle-and-bustle of city life, the Hunter Valley has a thriving retired community of food and wine lovers close to the facilities of Newcastle and Sydney. However, it is worth considering that property prices can be higher than in other regional areas. Daylesford, Victoria. Located about 115 km north-west of Melbourne, the former goldmining town of Daylesford has long been popular with tree-changers, due to its natural beauty, mineral springs and fine food and wine. But it can be a place of extremes, experiencing both bushfire and floods in recent years.
With its cheap cost of living, warm climate and close proximity to Australia, Bali is one of our favourite holiday destinations. Australians can generally get a long-term visa to live in Bali, so it is relatively easy to make the island your permanent home. On the downside, infrastructure and healthcare may not be up to the standard you enjoy in Australia.
Our closest neighbour has much to offer Australian retirees, with a laidback lifestyle and beautiful nature it’s also only a short flight from your friends and family back home. If you are looking to work or volunteer in your retirement, like almost one-third of Australians2, then New Zealand offers similar opportunities as here in Australia. Just make sure you are prepared for the cooler climate. Get ready to go You’ve found the right destination, now you want to make sure you can afford it and the resulting implications for your finances. That’s why you need personal financial advice to help plan for your financial future so you can be ready to enjoy life’s next big adventure.
Source: Colonial First State Investments Limited
1 Regional Development Australia. State of the Region: Sunshine Coast. 2012.
2 Australian Bureau of Statistics. Volunteering Rates. 2012.