When I was forty, I looked at whether the neighborhood would see an increase in home prices and how long it would take to get to work.

Now, I consider whether it's close to hospitals, how convenient it is for shopping, what will happen if I can't drive later, and how much my monthly living expenses will be.

Based on those criteria, I think Annandale is a pretty good place to live in retirement.

What I like most is the hospital. There's Inova Fairfax Medical Campus nearby.

It's a major hospital representing Northern Virginia and has a Level 1 Trauma Center.

When you're young, it doesn't matter if a hospital is 10 minutes away or 30 minutes away. But when you reach your sixties or seventies, this becomes very important.

Having a large hospital nearby when you suddenly have chest pain or fall and get injured is a benefit that's hard to put a price on.

You also need to think about housing after retirement.

Just because you're healthy now doesn't mean you'll live the same way at 80. Initially, you might live in your own home, but later you may move to independent living, and if you need help, you might consider assisted living.

There are facilities like these around Annandale. However, the costs are not insignificant. Senior living can often exceed $5,000 a month depending on the facility and level of service, and it goes up if memory care is needed.

I've been in finance and insurance for a long time, and I always tell people this.

When preparing for retirement, you can't just calculate living expenses.

If you think $4,000 a month at 65 will be enough and that it will stay the same until you're 80, you're mistaken.

Property taxes will increase, insurance premiums will rise, and medical costs are likely to go up as well. If you later need assisted living, your monthly spending structure will change completely.

Some people think Medicare will cover everything, but that's not the case. Medicare generally does not cover all long-term custodial care costs. So, you need to consider assets, Social Security, pensions, IRA or 401(k), and funds for long-term care together.

There's another reason why Annandale is good for Korean seniors.

You can shop at Korean markets and enjoy Korean food easily. It's relatively easy to find hospitals, dentists, accountants, and insurance services where you can speak Korean.

When you're young, these things may not seem like a big deal. You might think you can manage with a little English. But when you're seventy or eighty, the situation changes. It's not easy to spend 40 minutes on the phone with an insurance company in English when you're not feeling well.

However, Annandale does have its drawbacks.

It's not the best neighborhood for living without a car. There are buses, but having a car is more convenient for going to the hospital, shopping, and meeting people. So, when choosing a retirement home, you should also consider how close it is to stores, hospitals, and restaurants rather than just the size of the house.

I don't think you necessarily have to move to Florida or Arizona just because you're retiring.

As you age, what's important is not just the weather. Having a hospital nearby, being able to eat the food you like, having long-time friends around, and not having your children too far away may be more important.

By those standards, Annandale may not be a glamorous retirement city, but it is a very realistic area for retirement living.

When you're young, having a nice house is important, but as you get older, having a good living environment becomes more important. Now that I'm over sixty, I'm starting to see that difference more clearly.