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According to Robert Penn Warren Bland, PhD, an award-winning author and geographer at Cal State, people have got a great option. It's called "equity-take" that is, the difference in cost of comparable lodging between your present community and the more than low-cost 1 to which you could move. So, if you are willing to do that move, you can pocket a good ball of money instead of delaying your retirement.

Consider the individual hailing from Buffalo, NY, where the average upper center social class home sells for around $250,000. In Thomasville, Georgia, one of the most desirable retirement topographic points in the Atlantic Ocean Southeast, many attractive single-family abodes in beautiful vicinities are selling for around $140,000. This agency that you could sack about $100,000 (assuming your mortgage is paid off) by relocating from snowy American Bison to bright southern Georgia, and addition your annual network income by $5,000 by investment in, for example, tax-free municipal chemical bonds at 5 % annual interest.

People living in expensive metropolitan countries like New York, Los Angeles, the San Francisco Bay Area, Boston, Chicago and Toronto are in an even better place to utilize "equity take" to their advantage. The average terms of upper center social class lodging transcends $1million in Manhattan, $700,000 in Los Angeles and the SF Bay Area, and is around $500,000 in Hub Of The Universe and Toronto. In contrast, home terms in many highly desirable cities and towns, suitable for retirement and located in all parts of the country, are more than likely to be in the $150,000 to $300,000 range. Even a resettlement from Manhattan to Boca Raton, Florida (one of Bland's "top ten" retirement picks), could go forth you with an equity-take of $500,000. Investing that gravy in tax-free municipal chemical bonds at 5 % annual interest, will increase your annual income by $25,000. As Bland says, "You can purchase a batch of wine, epicure nutrient and amusement with that sort of money"!