Retirement Planning: Don’t Forget to Ask “Where?”


Retirement planning commonly revolves around “how much” and “when.” An often overlooked question is “where” and it matters a lot.

Assumptions, Dreams, and Realities

Typically, retirement planning is rooted in making assumptions about the annual income that will be needed to retire comfortably and the desired timing for doing so. Oddly, really nailing down “the where” has often been largely glossed over, even though our location weighs heavily into our estimated cost of living. Consider, for example, how big ticket items in family budgets, like housing, transportation and taxes, can shift with different responses to the “where” question.

As a retirement plan sponsor, consider encouraging more attention to “where” in communications with plan participants. Perhaps it is even a question you need to ask yourself? You are not alone if you have not seriously dealt with where you intend to live upon retirement. It seems that though many of us may have dreams, we have tended to stay put. Of course, as the pandemic has disrupted so much, that pattern may be changing too. As the National Association of Plan Sponsors (NAPA) recently observed:

Data suggests that however much we may talk about moving, most stay put….In a survey conducted in 2018, AARP found[i] that 77% of those age 50 and older either “somewhat” or “strongly” agreed that they would like to remain in their communities for as long as possible, and 76% of that group indicated they would like to stay in their current residence for as long as possible. Nearly half of adults age 50 and older say they will never move.

But that, as they say, was “then.” Among the many other potential shifts in assumptions going forward may well be the decision of where to live—not only in, but heading toward—retirement. Some may well have the opportunity to live somewhere different now that they didn’t have, or didn’t think of having, “before.” Some may have that “choice” thrust upon them. And some may no longer be as comfortable living hundreds of miles away (and across state lines), from those they love.

 Never Skip The Fundamentals

Factoring in “where” is a good example of how retirement planning needs to cover all the bases. Attention to all the fundamentals is also key to a plan sponsor’s approach to protecting the retirement funds—and your own assets too!

Wherever you and company employees and beneficiaries live and work, you are required to protect the assets of the retirement plan with an ERISA Bond. Let a leading national leader in the field help you with that and more: Colonial Surety Company offers a comprehensive coverage plan. Select an affordable package and receive:

  • The ERISA bond required to protect the assets of the retirement plan from theft; 


  • Cyber Liability coverage to safeguard your company and plan from covered losses and expenses in the event of a cyber breach; and, 


  • Fiduciary Liability coverage to protect you and your assets from personal liability.


Colonial makes it easy, fast and direct to quote and purchase your coverage package online, from anywhere.

Obtain Colonial’s ERISA Bond Package With Fiduciary Liability Insurance Now!

Available Everywhere In the USA

 Colonial Surety Company is in business all across the USA. We are  rated “A Excellent” by A.M. Best Company and  U.S. Treasury listed.

With our unique, affordable packages, plan sponsors can secure up to $1,000,000 of fiduciary liability insurance.

Remember, the ERISA bond required for the retirement plan protects the participants of the plan, but does not cover the plan sponsor as the fiduciary. Colonial’s 2 or 3-year ERISA bond packages provide great overall savings and protection. In addition to  fiduciary liability coverage, you can add cyber liability insurance to safeguard your company and plan from covered losses and expenses in the event of a cyber attack. Colonial even includes extended coverage to ensure your ERISA bond remains US Department of Labor compliant.

 Obtain Colonial’s ERISA Bond Package With Fiduciary Liability Insurance Now!