“Snowbirds” are those retired couples who live in more than one state. Usually they live in northern climates in the summer and move to warmer places like Florida or Arizona in the winter months.
From the Wall Street Journal
By the time Gil Stanley retired from teaching in 2009, he’d had enough of the harsh winters in his hometown of York Harbor, Maine. So the now-72-year-old built a home in Florida where he spends about half the year.
But getting his financial life in tune with this new lifestyle was no easy task.
What are some of the issues for people who want to become snowbirds?
As the Baby Boom generation moves into retirement, many will take advantage of increased longevity to remain active. Many will become snowbirds or hit the road with their RV, doing the things they have put off while working. Planning ahead is critical for this to succeed.
Arie J. Korving, a CERTIFIED FINANCIAL PLANNER™ professional, has been delivering customized wealth management solutions to his clients for more than three decades. Prior to co-founding Korving & Company, he was First Vice President with UBS Wealth Management and held management positions with General Electric.