After spending most of our lives working and saving, we want to ensure that we can retire comfortably. However, deciding where to retire is a big decision.
Whether you are looking for new life experiences or want a relaxing place to retire, there is no shortage of choices.
For certain people, ensuring they retire in towns and cities with reputable retirement residence options is crucial for their future. Seasons Retirement offers vibrant living options in Ontario and Alberta.
So, let’s look at some of the best places to retire in Canada.
But first, what factors should people consider before choosing where to retire in Canada?
According to the latest data by Statistics Canada, the average retirement age in Canada is 64.5. The retirement age differs between private sector employees and self-employed individuals.
The average retirement age for self-employed persons was 68, while private-sector employees were 64.7. Public sector employees retired earlier at the average age of 62.4. That being said, it is expected that most individuals have saved up for flexible and comfortable retirement at this age.
As people grow older after retirement, some choose to stay in the same town, given the familiarity with the community, weather, and proximity with family and friends.
But for those who choose to move to another location, what steps should they take?
While you may be offered desirable retirement options that can be difficult to ignore, take the time to research the best places to retire in Canada.
Here are some factors that you should be on the lookout for when choosing where to retire in Canada.
Even with a solid financial retirement plan, it is not yet time to splurge. Seniors need to ensure that they can comfortably cater to the cost of living in the new destination without strain. Different locations in Canada have varying costs of living. And if you are looking for the best places to retire in Canada on a budget, you need to ensure that the cost of transportation, food, services, medical care, and hobbies will not deplete your savings.
What is the lifestyle goal after retirement? For most people, living the city life may not be a dream after retirement. Moving to a calm and quiet location may be ideal for these individuals.
Buying a house after retirement is one of the most significant purchases retirees make. And if not well thought out, you might be left with a house but empty bank accounts as you continue to get older. While renting is also a wise option, be wary of rent prices as these can be incredibly high.
Growing older naturally means many people may require more medical appointments and check-ups. One of the measures that an individual can take when looking for the best places to retire in Canada is ensuring that the retirement location has accessible health care services.
Weather is a significant relocation consideration due to health concerns and individual preferences. If you do not enjoy Eastern Canada’s harsh winters, the west coast may be a preferable location.
Now that we have covered the major factors that retirees should consider before relocating upon retirement, here are the six best places to retire in Canada.
Drayton Valley, Alberta, is one of Canada’s best places to retire in 2021. The proximity to necessary amenities, including a local shopping centre and Drayton Valley Hospital and Care Centre, makes it the perfect retirement location. Older persons looking for recreation activities will have many choices, including visits to the local community centre that offers curling, ice hockey, football, and soccer. The town also has a ski hill, a swimming pool, and a bowling alley.
North Vancouver is a beautiful location to retire. However, homes are pretty pricey. This means that you need to ensure that your finances accommodate the rates. This location is best for people who want to spend time under the oceanic climates and is one of the best places to retire in Canada in 2021.
Lacombe is one of Canada’s best places to retire on a budget. With only a population of 13,057, the average housing price in the city is $327,000. This is a great deal for older adults looking for what might be considered a more affordable option. It has a small-town feel and a quiet charm.
This location tops the list of the best places to retire in Ontario, Canada. Due to the affordability, availability of entertainment options, and convenience, any person looking for a retirement location can never go wrong with Lakeshore. With most of Lakeshore being a rural setting, the area is ideal for those who want to retire in farmland. Check out the variety of retirement homes offered by Seasons Retirement, including the options in Lakeshore.
Camrose is a less hectic city, making it a great retirement location for those who don’t enjoy the hustle and bustle. The city has a reliable transportation system and an established regional shopping centre. The proximity to hospitals and the vast entertainment and recreational facilities make the city ideal for older persons looking for a place to retire. The city has facilities ideal for a retirement location, including an aquatic centre, a golf course, indoor walking tracks, parks, and sports fields.
For those who want the feel of living in a big city without the crowd and the rush, London is one of the best places to retire in Canada 2021. Another advantage is its proximity to Niagara Falls and the U.S. It is also the perfect destination for people who love nature walks. The city also has different medical professionals and facilities at close range.