No Such Thing as No Decision

“We couldn’t make a decision about where to live.” This is a common refrain, particularly for couples nearing retirement and beyond. Complexities and competing interests around place can be overwhelming, leading to indecision.

However, a decision has been made: to stay where you are. That may be a wise or poor decision. The point is that no decision is still a decision.

Said differently, there is no such thing as no decision when choosing where to live.

Why Where You Live Matters

Some decisions in life have little consequence, such as what to wear for a casual day, what route to take for a walk in your neighborhood, or which Netflix show to binge-watch.

However, when it comes to place, deciding where to live is a big – in some cases, life-altering – decision. It fundamentally influences your quality of life and well-being in the moment and the likelihood of achieving healthy longevity in the future. It impacts your health, shapes your friendships and social circles, and affects your finances.

Objectively, some places are better than others. For example, according to the Index of Deep Disadvantage of the University of Michigan which incorporates 3,500 counties and cities in the U.S., there is about a 10-year life expectancy gap between the most advantaged (83.1 years) and most disadvantaged place (74.2 years).

The Risk of Making an Unintentional Decision on Something That Matters

Deciding where to live is often linked to key transitions in life. Leaving home for college. Career changes. Getting married. Parenthood. Empty nest. Divorce or loss of loved ones. Health changes. Retirement. And the list goes on. With each transition, the question of where best to live often surfaces. These are intentional decisions about place.

However, in the absence of key life transitions, maintaining the status quo tends to be the default response. People can make an unintentional decision about place.

But this can be costly. What if your current place is not the best place for you?

We typically overlook or ignore small changes in our place. The cost of living increases, but not to an intolerable level. Some good friends move away. House maintenance becomes more of a hassle. And so on.

Such changes may not necessitate a change in place over a short period. However, compounded over a number of years, they may be significant and require a closer examination.

What If You Re-evaluated Your Home Every Year?

One approach is not to wait for a life transition to trigger deeper thinking about place. Instead, one can make evaluating where one lives a regular exercise, perhaps annually. You can incorporate these topics as you review the year or plan for the next.

If you work with a financial or wealth advisor, you can incorporate place planning into your planning conversations. Financial planners can speak to the financial aspects of place which is a factor, but certainly not the only factor, that can prompt intentional thinking about place.

It is worth noting that making changes to your place may not involve moving. It could involve changes to your physical space, reinvigorating your local friendship networks or taking advantage of ways to be more active in your community, among many other potential interventions.

Beware: The Power of Inertia

Inertia is a powerful force, particularly concerning where to live. The hassles and costs of moving can be substantial and overwhelming. The trick is to see past the friction of moving (or making changes to your existing place) to see the benefits of a better place. It may be that a change for the better is necessary even if the costs of a change are high. It may be a decision that rewards your future self in much the same way that saving has a cost at the moment but offers a benefit in the future.

If you find yourself saying, “We couldn’t make a decision about where to live”, consider rephrasing your position. Alternatively, you could say, “We decided to stay where we are for the time being for X, Y & Z reasons.” Because, when it comes to place, there is no such thing as no decision.