Yahoo Finance I’m a Real Estate Agent: Here’s Where I’d Retire If I Had $1 Million
A million-dollar retirement is a dream that will remain elusive for most. But even if you fall short, there’s no harm in daydreaming about where your seven-figure life would play out if you could manifest it into reality.
Every dream retirement must have a dream home. So, where would the people who deal in dream homes for a living go if they had a $1 million nest egg?
Downsizing for Retirement? Stay Away From These 7 Homes
Find Out: 3 Ways To Recession-Proof Your Retirement
GOBankingRates spoke with two veteran real estate agents from different parts of the country and with varied backgrounds. They have diverging ideas on what makes a retirement great, but they both know just where they would go — all they need now is a million bucks.
For an Arkansas Real Estate Attorney and Broker, There’s No Place Like Home
Garrett Ham is the CEO and principal broker of Weekender Management, which specializes in Airbnb rentals for real estate investors. After graduating from the University of Arkansas School of Law, he went to work for his state’s most famous company, managing multi-million-dollar leases for Walmart’s real estate department in Bentonville.
He also served as a JAG officer in the Arkansas Army National Guard before transitioning to active duty in the Air Force. While all that was happening, he was setting the stage for his future in real estate by buying and leasing properties for himself.
I’m a Luxury Real Estate Agent: These Are the 5 Home Features That Turn Buyers Away
After Experiencing the Choices, Bentonville’s Gravity Proved Strongest
After completing his graduate studies at Yale University, Ham returned home and remains there today — and even if money were no object, he wouldn’t go anywhere else.
“If I had $1 million, I would retire right where I am — Bentonville, Arkansas,” he said.
That says a lot coming from Ham, whose work, education and service have given him considerable life experience in some of the biggest cities, smallest towns and plenty in between.
“I was an Air Force brat growing up, and I served in the military myself,” he said. “This afforded me the opportunity to live in multiple states and see various parts of the country. After the military, I attended graduate school at Yale University in New Haven, Connecticut, which allowed me to experience life in the New York Metropolitan area. My wife worked in Manhattan while I attended school. After all that, however, I knew this was where I wanted to end up.”
Bentonville Is Booming — and for Good Reason
In 2022, Money named Bentonville one of the top 50 places in the country to retire, citing its natural splendor, 160 miles of trails and immediate proximity to the Ozark Mountains. Retirees who buy a home there now could be in for impressive appreciation in the future. The town is booming — its population grew by more than 50% in the last 10 years and is expected to nearly double from its current 57,000 residents to 100,000 by 2040.
But don’t worry, you haven’t missed your chance yet. According to Payscale, housing there still costs 20% less than the national average. Groceries and utilities are cheaper in Bentonville, too.
As for Ham, he needs no convincing.
“I had lived here for a few years when I started my career in the real estate department at Walmart’s corporate headquarters, and this is by far the best place I’ve ever been,” he said. “Now that I’m back, I don’t ever want to leave.”
A New York Real Estate Pro Looks South to Orlando
Jim Gray is a real estate professional and a performance coach at Agent Advice, a resource for agents hoping to grow their businesses.
Licensed out of New York state, Gray is a record-breaking real estate professional who sold hundreds of homes in his first two years. The Wall Street Journal recognized him for starting the No. 31 largest team in the world across all real estate brokerages.
Early on, he ranked in the top 1.5% in sales of all agents in Rochester and the surrounding areas and the top 5% of all Keller Williams Agents nationwide.
“As a real estate agent, I’ve helped a lot of clients find their perfect retirement home,” said Gray. “Seeing all the good options, I’d choose Orlando without thinking twice if I had $1 million to retire with.”
Walt Disney Didn’t Land There by Accident
As Bentonville has Sam Walton, Orlando has Walt Disney — and the man who pioneered both the animation and theme park industries didn’t pick the city by throwing darts.
According to Orlando’s Regal Oaks Resort, “Disney settled on Orlando as the perfect site, convinced by its year-round sunshine, its excellent road access and relatively cheap land.”
The land isn’t exactly cheap anymore. Zillow says the median home there goes for a little more than $373,000, which is higher than the national median of $346,653 but lower than the roughly $393,000 state median.
But retirees continue to fall in love with all the niceties that compelled Walt Disney to settle on the city in 1965.
“Orlando draws retirees for good reasons,” said Gray. “The weather is nice all year, making it great to be outside. This city has so many restaurants, you’ll never get bored eating. No matter what food you like, you’ll find it. Golfing is also excellent there. Sports fans will love it.”
A Careful Retiree Can Make $1 Million Go Far in Orlando
In August, Conde Nast Traveler named Orlando the No. 2 best place in America to retire. The publication echoed Gray’s sentiments about the stellar weather — 236 days of sunshine per year — and impressive restaurant scene.
But it also cited the city’s access to excellent healthcare, low crime and lack of a Social Security tax as reasons to bring your $1 million there.
But the financial benefits don’t stop with tax-free retirement benefits.
“Orlando has another plus for retirees,” said Gray. “Taxes are lower. Florida doesn’t tax your pay and sales tax is only 6%, which is below average. That saves retirees money, since they live on fixed incomes. All in all, Orlando is a sensible choice if you want great weather, activities and lower costs as you retire. With its delightful weather, many entertainment options, financial advantages and the overall quality of life it offers, Orlando is my top choice for a dream retirement destination.”
More From GOBankingRates
This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: Here’s Where I’d Retire If I Had $1 Million
