The $100K Mistake: What Margaret Learned About Choosing the Wrong Retirement Location

When Margaret Vandergriff moved from vibrant Austin, Texas to a small Iowa town chasing the "cheap living dream," she had no idea it would lead to four moves in ten years and cost her nearly $100,000 in savings. Today, as the founder of Your Place Finder, she helps retirees avoid making the same expensive mistakes she did when choosing where to live in retirement.

The High Cost of the Wrong Move

"I got all these starry-eyed ideas about small-town living being cheaper and simpler," Margaret shares. "But there's nothing simple about feeling isolated in a community that doesn't want you there, while watching your savings drain away on unexpected costs."

Her experience reveals a crucial truth: choosing the wrong retirement location can cost you more than just money. It can impact your:

• Mental well-being and happiness

• Social connections

• Access to activities and amenities

• Monthly expenses in surprising ways

• Retirement savings

Hidden Costs of "Affordable" Locations

Margaret's Iowa experience revealed several unexpected expenses:

• Higher utility costs than anticipated

• Expensive water and wastewater services

• Social costs of isolation

• Moving expenses (which can run into thousands)

• Real estate transaction costs

• Loss of existing support networks

Beyond the "Perfect on Paper" Trap

Many locations look ideal when you're scrolling through "best places to retire" lists. However, Margaret emphasizes the importance of looking beyond statistics and cost-of-living calculators. Key factors to consider include: 

Climate and Environment

• Weather tolerance as you age

• Natural disaster risks

• Seasonal changes

• Access to outdoor activities

 Community and Culture

• Local attitudes toward newcomers

• Available social opportunities

• Political climate

• Cultural amenities

 Practical Considerations

• Distance to major airports

• Healthcare access

• Cost of utilities

• Public transportation options

• Proximity to family

The Scouting Visit: Do It Right

One of Margaret's biggest regrets was not using her scouting visits effectively. Here's what she recommends: 

1. Don't focus solely on house hunting

2. Interact with locals and observe community dynamics

3. Visit during different seasons if possible

4. Test the daily commute to essential services

5. Explore local amenities and activities

6. Assess the community's friendliness to newcomers

Should You Stay or Should You Go?

Before making any moving decisions, Margaret suggests asking yourself:

• Can you find what you're looking for closer to home?

• Are there ways to improve your current living situation?

• Have you fully calculated the costs of moving?

• Is the move worth the financial and emotional investment?

Finding Your Perfect Place: A Systematic Approach

After her experiences, Margaret developed a system to help others avoid similar mistakes. Key steps include: 

1. Determining your location personality (urban, suburban, small town, or rural)

2. Identifying non-negotiable requirements

3. Evaluating potential locations against your criteria

4. Conducting thorough scouting visits

5. Making an informed, well-researched decision

Success Story: Finding Home in Olympia 

Margaret eventually found her perfect fit in Olympia, Washington, using her own system. "It was like falling in love," she describes. "The laid-back vibe, the quirky charm, the natural beauty – it all just clicked." While she lives in a smaller house than she had in Iowa, the trade-off was worth it for the right location.

Take Action: Next Steps

Before making any retirement relocation decisions:

1. Take Margaret's free quiz at YourPlaceFinder.com to determine your ideal setting

2. Make a list of your non-negotiable requirements

3. Research potential locations thoroughly

4. Plan effective scouting visits

5. Consider consulting with a relocation specialist

Remember: where you live shapes how you live. Take the time to make an informed decision about your retirement location – your future self will thank you. 

About the Author: Melissa Moss is a Certified Financial Planner® professional specializing in retirement planning. She helps clients develop comprehensive strategies for a confident retirement through her practice at Main Street Advisors.

Disclaimer: Melissa Moss is a registered representative with and securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult with an appropriate qualified professional prior to making a decision.