Many people opt to retire in the same places they spend their working years. And that makes sense. If you know the area and have a support network, it's understandable that you wouldn't want to uproot yourself just because you've stopped working.

On the other hand, relocating in retirement could benefit you in many ways. First, if you move somewhere with a lower cost of living, you can stretch your nest egg further. You might also have an easier time managing your bills if you plan to rely heavily on Social Security for income.

Plus, you may be eager to enjoy a more moderate climate as a retiree. That could mean abandoning a northern state and moving for warmer weather.

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Source Fool.com