Ryan discusses the financial benefits of relocating during retirement for a lower cost of living. Wheless uses a hypothetical scenario of a retired couple, Bob and Ann, to illustrate the financial implications of staying in a high-cost area versus relocating to a place like Knoxville, Tennessee, where the cost of living is significantly lower. Through a Monte Carlo simulation, it's demonstrated that by reducing expenses through relocation, the couple could increase their probability of financial success in retirement. Ryan emphasizes the importance of understanding current living costs and potential future costs in different areas to make an informed decision that allows retirees to maintain their lifestyle while potentially stretching their retirement savings further.
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11 сен 2024
