Moving to Be Near the Grandkids

The majority of retirees don't have to move to get more face time with adult children: More than 50% of older households live within 10 miles of at least one child, according to the Health and Retirement Study, sponsored by the National Institute on Aging. But for those who live farther away, the arguments for and against moving closer to them can be equally persuasive. In the best-case scenario, you get to enjoy time with your adult child, forge bonds with the grandchildren and help the family out by occasionally babysitting. The worst-case scenario is that you miss the friendships and networks you've established over the years, hate the weather, and discover that the cost of living in the new place is eating away at your nest egg. To improve your odds of making the right choice, first identify your motivation for moving, says Lynn Dunston, a CFP in Denver. Maybe one of your goals is to downsize your expenses.