Frequently Asked Questions About Solo Retirement

Navigating the logistics of a solo retirement move brings up many practical questions. Here are answers to some of the most common concerns.

Is it better to rent or buy when retiring alone?

There is no single right answer; it depends on your finances and your desire for flexibility. Renting when you first move to a new city is often a wise strategy. It gives you a year to learn the neighborhoods, confirm you like the city, and build a social circle before committing to a purchase. Renting means no maintenance, property taxes, or homeowner’s insurance. However, buying a home allows you to build equity and provides stability. You can modify it for aging in place and have a permanent home base. For trusted advice, consider speaking with a housing counselor approved by the U.S. Department of Housing and Urban Development. You can find one at HUD.gov.

How do I handle healthcare if I move away from my long-time doctors?

This is a major concern. Before you move, ensure your new city has doctors and hospitals that accept your Medicare plan. Most Medicare Advantage plans are geographically based, so you will likely need to choose a new plan in your new location. Original Medicare is accepted by most doctors nationwide, but your Medigap (supplemental) plan rates may change. Plan ahead: get copies of your medical records and ask your current doctors for recommendations if they have any connections in your new city. Start looking for a new primary care physician as soon as you move, before you actually need one.

What if I move and don’t like my new city?

This is a valid fear, and it’s why a “try-before-you-buy” approach is so important. Renting for the first year is your best insurance policy. It gives you an easy exit strategy if the city isn’t the right fit. If you do buy and decide to leave, you will have to go through the process of selling your home, which can be costly and time-consuming. The key is to reframe it. A move that doesn’t work out isn’t a failure; it’s a learning experience that gets you one step closer to finding the right place.

How can I find part-time work that’s right for me?

Many solo retirees want to work part-time for extra income and social interaction. Think about leveraging your past career in a flexible way. Could you consult? Or, consider something completely new. Retail, libraries, local tourist attractions, and coffee shops often offer flexible, low-stress positions. When updating your resume, focus on skills like reliability, customer service, and problem-solving. Be upfront about your desire for part-time, flexible hours. Your life experience is a huge asset to employers.