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Do I Have Enough to Retire in Media, Pennsylvania?

February 22, 2021

Quick, what’s retirement all about? If you said getting to finally do your own thing after putting in years of hard work, you’d be right! You’ve done your thing, been a loyal worker, and now it’s the opportunity to indulge in some sustained and quality you time. But are you sure you’ve gotten enough nuts squirreled away to get you through the winter?

To be more specific, have you built enough retirement savings so that you can enjoy your ideal retirement in Media, Pennsylvania, the Philadelphia suburb that’s become one of the most retirement-friendly neighborhoods in the United States? If you’re suddenly wondering “how do I know if I have enough to retire?” — don’t stress. We’ve got the info you need.

How Do I Know if I Have Enough to Retire at All, Let Alone in Media?

It goes without saying that the economic landscape is extremely volatile nowadays. This can make it a challenge to see if you truly do have the resources to retire at all, let alone if you can handle retiring in Media, Pennsylvania. Savings accounts will only get you so far – hopefully you’ve got some investment activity that has come out more or less unscathed from the modern brushfire war that has been Wall Street recently.

Not only that, the idea that “enough” is an arbitrary and constant number isn’t going to get you far. If you’re pursuing a specific standard of living, you’ve got to ensure you’ve prepared accordingly. Your best bet is to make use of a retirement calculator to see your progress. An even better way is to discuss your details with a financial adviser. They can reveal where you’re strongest, where you may be lacking, and how you can turn things around to influence your resources in a positive manner.

What About Affordability in Media?

Understanding if you have enough money to retire means understanding what the cost of living will be in the place you’re considering. This is one of the ways that Media, Pennsylvania stands out in a positive light. When you look at the overall cost of living in Media, the raw figures paint one picture indeed – and that’s slightly higher than the U.S. average, with BestPlaces.net rating Media at 122 (anything over 100 is considered above average). That’s not nearly as high as it sounds, though, considering the rest of the area, from Philadelphia all the way through New York City, where the BestPlaces rating is 187.2 for affordability.

In other words, Media’s cost of living is much closer to the average than New York’s, or any other place that’s expensive to live. Good news if you’re considering Media as your retirement home for sure. If you opt to retire to a Continuing Care Retirement Community such as Granite Farms Estates, your savings will go even further, because included within your monthly fee will be the basics like TV, internet, and utilities, not to mention lawn care, snow removal, and the like. You’ll also get fine dining options included, as well as additional amenities like a pool, fitness center with fitness classes, a full calendar of activities and events, and more. Plus, did we mention healthcare is covered? Oh yeah, should you ever need a higher level of care, it’s already taken care of.

What Other Reasons Put Media in the Spotlight?

So Media is a great place to retire if you’re looking to relocate from an expensive region to a more modest one. At the same time, if you’re already living in a less expensive place to live, why bother pulling up tent stakes and relocating? Well, there are plenty of other reasons why Media is a great place to retire. In fact, many of these reasons make it worth your while if you’re willing to take the chance on moving.

Consider, for example, the importance of having access to specific types of amenities. Access to things like world-class hospitals, shopping, transportation, entertainment, hobbies, and culture can’t be discounted. Is it any good if you’ve found a highly affordable retirement home elsewhere if it takes you an hour to get to an amenity off campus? When living in Media, this isn’t a problem – with its status as a Philadelphia suburb, you’re just a stone’s throw from one of the biggest and most cosmopolitan cities in the Mid-Atlantic.

Affordable Retirement in Media

You don’t need us to tell you that retirement is one of the biggest and most important changes in your life. It’s absolutely crucial to have the resources to both afford retirement and enjoy it. This requires you to have the perfect place to live so that your retirement income and savings will be best spent from the beginning.

As we mentioned above, if you’re curious whether you have enough to retire, we highly recommend speaking with a retirement adviser before you pull the trigger on retiring anywhere. You need to ensure the state of your finances can handle retirement, and you need to identify ways to strengthen your financial position before you retire so that you can get everything you want out of retirement. In many instances, relocating to a new neighborhood that has better amenities and is less expensive than your current home is a major part of the equation. If that’s the case with your retirement, then put Media, Pennsylvania right at the top of your list for prospective places to live out a lovely and comfortable retirement!