Triangle Finance

The Best Places to Retire
Articles about the best places to retire are abundant. But none of the places on those lists may be the “best” place for you. When you’re trying to decide where your next move may be:
Identify your hopes and dreams for the future. For example, ask yourself whether you have:

• Family members and/or friends that you’d like to live closer to

• Organizations you’d like to become more involved with

• Hobbies you’d like to spend more time on

• Recreational or educational interests you’d like to pursue

• Weather preferences

Also, consider whether you want to live in multiple locations.
Identify locations that can help you live out your dreams. Even if those “Top 10” lists don’t offer exactly what you’re seeking, they can help get you thinking about the types of opportunities and amenities you’d like to have available to you.
You can also perform research online or at your local library or bookstore to help you identify places of interest to you. And, be sure to ask around. Your family members and friends may have knowledge about places you’ve never even heard of that can be useful to you.

• Consider your financial situation. Look at which cities and states offer the type of housing and lifestyle that will fit your budget. Also consider whether you have special estate and tax planning or health care needs. Some states may be better equipped than others to address these needs in ways that benefit you.

• Visit your top three to five picks. No matter how much time you spend researching your choices, spending time in a location is the best way to determine whether it truly offers what you’re seeking in terms of community and opportunity.

What’s more, a visit will give you a good sense of the weather and exactly what the transportation options and travel distances are to the places you’re likely to frequent. For some, road conditions and traffic can make or break a locale.

• Be flexible. Your needs and interests may change over time. And your first round of top picks may not pan out. Don’t get discouraged. Take your knowledge back to the drawing board and look for new options. The world is a big and beautiful place. No doubt, you’ll find what you’re seeking.

Brokerage, investment and financial advisor services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.

© 2011 Ameriprise Financial, Inc. All rights reserved.
File #106887

Downsizing Your Home: What You Need to Know

Whether you’re helping aging parents downsize their home or getting ready to make life simpler for yourself, deciding what to keep and what to part with can be daunting. The first step is taking the emotion out of the process. To help you get started, ask yourself the following:

• Have you used the item during the past year? As a general rule of thumb, if you haven’t used it, you can probably live without it. Whether it’s an outfit, a kitchen appliance, a game or other item, now’s the time to let it go.

• Is there a place for the item in your new home? Only take with you the furniture, accessories and other items that you’re sure to use in your new locale. If you are uncertain, make a drawing of the floor plan and map out what will go where.

• Does the item fit your current style? Whether it’s a bookcase from your grandma, a desk from your father or something you originally purchased, if it doesn’t offer the look or functionality you need, part ways.

Other important recommendations:

• Call an appraiser — If you need help determining the value of the items you plan to sell, call an estate or auction appraiser in your area for help. Many appraisers also offer liquidation services to help you sell your stuff.

• Donate — Bring clothing and other miscellaneous household items to a local donation center or a place of worship with an outreach program. Make an itemized list and be sure to get a receipt, so that you can deduct the value of these items on your next tax return.
For more information about reducing the size of your taxable estate when you downsize your home, consult your legal, tax and financial professionals. They can make recommendations that will help you avoid the pitfalls that pass on more of your estate to Uncle Sam than to those you care about most.

For more information on James M. Richardson, please visit him online and see his ad on page 5.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.

© 2011 Ameriprise Financial, Inc. All rights reserved.
File #122469