5 Benefits of Moving Closer to Family in Retirement

When it’s time to retire, one question always comes up: Will you retire and move closer to your family? There is no one-size-fits-all answer. But there are five persuasive reasons why you should move closer to family:

• You will have a built-in social network
• You have the opportunity to strengthen generational ties
• You have more things to do with and without family
• You may see financial advantages
• You will have more help

1. Beneficial Social Networks

Isolation and loneliness are very real concerns for aging adults. Dr. Robert Waldinger, director of the Harvard Study of Adult Development, says “Good relationships keep us happier and healthier.” Harvard researchers have been conducting a study on adult life since 1938. Waldinger explains they found that “people who are more isolated than they want to be are less happy, and they live shorter lives.” So moving closer to your family can provide you with a beneficial social network, helping you live a longer life.

2. Strengthen Generational Ties

Choosing to move closer to your adult children means you could play a more active part in the lives of your grandchildren. It’s easier to attend their sporting events, dance recitals and impromptu family barbecues without the fuss of long-distance travel. If you have a frank and honest discussion before the move, you can set mutually agreed-upon boundaries so no one is surprised at a last-minute call to babysit or if you’re never asked to watch the kids.

3. More Things to Do

Deciding where to live in retirement means being realistic about how you plan to spend your time. If you’re moving to independent living, you want a mix of family-friendly attractions and activities that excite you personally. Imagine exploring world-class museums with the grandkids, or introducing them to the thrill of seeing a game at MetLife Stadium, just 40 minutes from Fellowship Village! And the list of on-campus activities ranges from personalized fitness to professional theater.

4. Financial Considerations

When you’re thinking about whether you should relocate, you’ll want to look at the tax implications if you’re moving closer to family in New Jersey. While Kiplinger considers NJ to be the least tax-friendly state for retirees, it’s because of the state’s property taxes. BUT, take home ownership out of the equation (hello, independent living!), and it’s a different story. The state has low income taxes for retirees, a nice exemption for retirement income, and social security benefits aren’t taxed. You will also want to consider which Medicare Advantage Plans are available in our 07920 zip code which aren’t offered for your current location.

5. Help is Close at Hand

We don’t like to think about it, but we all need a helping hand. Having family near you makes it easier to ask and receive help when you need it. Of course, as a resident, you’ll have everything our Life Plan Community offers. But living near family means it’s easier for a relative to accompany you to medical appointments or visit you if you’re hospitalized. They can also drop by when you need help with the potato salad for a family get-together.

We recognize there are a number of other considerations that will go into your decision about whether or not to move closer to family. The cost of moving, the possibility an adult child will have to move for a job, or maybe you saw an RV as your future. We would love the opportunity to discuss your options with you. Call us at 908-529-8486 or if you’re here test-driving the area, schedule a personal tour. Our amenity-focused options should be the sixth reason why it makes sense to move closer to your New Jersey family!