Thinking of Becoming a Snowbird? Questions to Ask Before Taking the Plunge
Winter can be a tough time of year for many people. If you are tempted to escape the cold by going to a warmer area of the country, that’s definitely understandable. There are many positives of being a snowbird as it can benefit both your health and well-being. But, before you book a flight, there are a few things that you need to consider and do first. Similar to planning for retirement, the way to get the most out of your snowbird time is to make sure you’ve planned enough and taken the right steps to prepare. So do some preparing and thinking before making a decision. Your Finances Your financial situation may be the most boring of all the things but it’s probably the most important if you’re thinking about becoming a snowbird. If you cannot afford to winter somewhere else, you shouldn’t be a snowbird, plain and simple. What you can afford will also define, or limit, many of the other decisions you need to make when adopting this lifestyle. One way to know if you can swing wintering in warmer locations is to speak with a financial advisor or planner. To prepare for your appointment you could probably do a lot of the legwork yourself. Simply look at your expenses and your income and see what money you have left to play with. Then, figure in the expected cost to be a snowbird and see what you can afford. Some things to consider if you can afford being a snowbird include: Can [Read More...]
