Topping the list as the cheapest place to retire in the U.S. In the US, the state's capital offers a combination of affordability and Best Care Services for Seniors near Greenwich CT. Many Americans dream of retiring abroad, to places where the dollar expands even more, whether it's moving abroad to start a new phase, living somewhere much cheaper than the United States, or finding the easiest countries to obtain a second citizenship. However, a new report from GOBankingRates on the best places to retire in the U.S.In the US, it shows that you don't need to move abroad to find an affordable place to live, even if you rely primarily on Social Security. Topping the list as the cheapest place to retire in the U.S. In the US, the state's capital offers a combination of affordability and Best Care Services for Seniors near Greenwich CT. Many Americans dream of retiring abroad, to places where the dollar expands even more, whether it's moving abroad to start a new phase, living somewhere much cheaper than the United States, or finding the easiest countries to obtain a second citizenship. However, a new report from GOBankingRates on the best places to retire in the U.S.In the US, it shows that you don't need to move abroad to find an affordable place to live, even if you rely primarily on Social Security.
About 11% of the city's population is of retirement age, and the cost of living is nearly 10% lower than the average for older Americans. Other Florida cities in the top 25 are Orlando (ranked No. Beyond Florida, the next most represented state is Texas, which offers some of the most attractive cities in the United States. UU. There are five Texas cities in the top 25, including El Paso (No.
Texas also attracts retirees with low housing costs, a warm climate and no state income taxes. By contrast, only three cities in the north are overcoming the cutback: Providence, Rhode Island (No. When you're trying to balance a fixed income with a pleasant retirement, the cost of living is a crucial factor to consider. Is your state the best? When you buy through links on our site, we may earn an affiliate commission.
When you're trying to balance a fixed income with a happy retirement, the cost of living is a crucial factor to consider. After all, if your daily expenses consume too much of your budget, you won't have much left to dedicate to something fun, much less to leave an inheritance to your loved ones or even as a cushion to give you peace of mind. So it's no surprise that 65% of adults over 50 will move to lower the cost of living, and 34% cite housing affordability as the main concern, according to an AARP survey on the economic outlook for longevity for 2024. To that end, we identified the 24 best places to retire in the U.S. In the United States, which offer lower than average living costs for retirees. In addition to affordability, all of these places are well ranked, taking into account the security, average income and poverty rates of retirement-age residents, as well as residents' sense of well-being and the availability of recreational and health care centers.
Be a smarter, better-informed investor. Get benefits and thrive with the best expert advice on investing, taxes, retirement, personal finance and more, right in your email. Get benefits and thrive with the best expert advice, right in your email. These affordable places to retire are spread across the country and offer diverse options, from mountains and beaches to small towns and larger cities.
See How We Choose the Best Places to Retire at the bottom of the list for details on our data sources and methodology. North Dakota State University is based in Fargo and, along with other universities in the area, offers attractive services for both retirees and mixed students. This includes sporting events and cultural attractions, such as numerous musical and theatrical performances. Just make sure to keep warm if you venture outside in the winter months. The average low temperature in January is literally 0 degrees Fahrenheit, according to U.S.
climate data. In the US, and it only reaches an average low of 6 degrees Fahrenheit in the surrounding months. In addition to the low temperatures, Fargo also receives an annual average of 47 inches of snow. Whether you prefer to explore nature or focus on the wine region, you have a lot of options that you don't even have to choose between one and the other.
You can enjoy boating and fishing on the Columbia, Yakima and Snake rivers, and go hiking or biking on the 23-mile Sacagawea Trail. There are also more than 200 wineries within a 50-mile radius, offering beautiful views and lots of wines to sample. You can find a bright and sunny retirement in Albuquerque. The city tends to have 310 sunny days a year during all four seasons.
This provides you with plenty of opportunities to explore the many hiking and biking trails in and around the city, to fly in a hot air balloon and to play on a variety of golf courses in the area. And when the sun goes down, local casinos have concert halls, restaurants and more, as well as table games, slot machines and bingo that help energize the local nightlife. All of this entails lower than average costs, but also lower than average revenues. And a lot of people can't do it a balance.
The sales tax rate in Albuquerque is 7.625% (the U.S. average is 6.44%). Albuquerque's income tax rate ranges from 1.7% to 5.9%. The Kansas City, Missouri metropolitan area spans two states and offers a wide range of affordable attractions for people of all ages, including retirees.
The music and art scene is particularly vibrant and is home to legendary jazz musician Charlie Parker, as well as the American Jazz Museum, the Nelson-Atkins Museum of Art and the Kauffman Center for the Performing Arts. For foodies, authentic barbecue is also popular. Plus, you can entertain your visiting grandchildren with Legoland, the Sea Life Aquarium, and the Kansas City Zoo. In addition, although the main campus of the University of Missouri is located about 125 miles east in Columbia (about two hours' drive), the school attracts more than 16,000 undergraduate and graduate students, as well as all the amenities of university life, to its Kansas City campus.
It even offers a fully voluntary educational program called Communiversity, which offers a wide variety of classes and seminars throughout the metropolitan area. If you've never considered moving to South Dakota when you retired, maybe you should, since Sioux Falls is a particularly good place to settle down. It is full of advantages, including a strong economy, a low level of unemployment, and hospitals that specialize in geriatric services. For all these reasons, in addition to the city's recreational activities (including regularly scheduled morning walks and the Pinoche program for seniors, led by the city's Parks and Recreation Department), the Milken Institute rated Sioux Falls as one of the best small metropolitan areas for successful aging.
If the cold winters and the fiscal situation, which is just as tough, don't make you think about going to the North Star State, consider retiring in Mankato, at about 90 miles southwest of the Twin Cities. It's still a small city, but development is on the rise and the local economy is growing rapidly. Revitalization projects have added a good mix of restaurants, shopping, entertainment and more to the city center in recent years, and the city's strategic plan aims to extend that level of development throughout the Minnesota River Valley. Some of the objectives of the current plan include building housing, specifically within walking distance of workplaces and stores; expanding Riverfront Park and other recreational land; and building a pedestrian bridge that crosses the Minnesota River to North Mankato.
The waterfront already offers a dynamic environment with a number of restaurants, shops and attractions, including the Peoria Riverfront Museum, with its giant screen theater and Dome planetarium. The museum organizes a program for the elderly with a series of free morning lectures every two months and free admission to the museum on the second Wednesday of each month for guests aged 60 and over. In addition, the Peoria Park District offers 62 parks with miles of hiking trails, golf courses, a nature center and more. As a university city, home to both the Lincoln campus and the Union College of the University of Nebraska, the population can lean towards young people.
However, the city is also prepared to help its elderly residents, with about 30 health and social services centers per 1000 older people, compared to about 19 per 1000 older people in the U.S. The heart of Dixie is home to many great places for affordable living. And Huntsville, in North Alabama, is one of the best. It offers all the low-cost, low-tax advantages of the rest of the state, but it adds more generous income to retirement-age residents.
The city, which houses the NASA Marshall Space Flight Center, the Redstone Arsenal and the Huntsville campus of the University of Alabama, offers a strong economy and a population highly educated. There are plenty of cultural attractions, from a sculpture trail to a symphony orchestra, as well as opportunities for outdoor recreation (think bass fishing). In fact, Alabama generally offers many of Florida's most popular attractions for retirees: warm weather, humidity, beautiful beaches and plenty of golf, all at a normally lower price. As expected, the Bluegrass State is a very attractive place for horse lovers and bourbon enthusiasts.
But retirees can also pursue other interests here. Lexington has more than 100 parks, five public golf courses and a 734-acre nature preserve with more than 10 miles of hiking trails. If you're looking for indoor entertainment, visit the many galleries and theaters, including the Lexington Opera and its program of ballets, Broadway musicals, comedy shows, operas (of course) and other performances. The University of Kentucky also offers the Singletary Center for the Arts. The University also helps boost local health care services with its many medical facilities, such as the Eye Institute, the Heart Institute and the Ruby Memorial Hospital.
In fact, the Milken Institute credits the area's abundance of medical services, including orthopedic surgeons, primary care physicians and home health professionals, for helping to make Morgantown a prominent place (18th) among small metropolitan areas. However, low costs don't equate to a lack of activities. Home to Ohio State University, locals can enjoy mixed culture, including major sporting events, concerts and cultural diversions. It also offers the 60 Program, which invites Ohio residents 60 and older to take college courses for free.
Off campus, the city center has a lively scene with an eclectic mix of shops, galleries, and restaurants. The neighborhoods of Short North and German Village, in particular, are worth exploring. It's Cajun French to let the good times go by and a phrase that you must learn and follow when you retire to Lafayette. Known as the Cajun capital, it is rich in history, distinctive foods, two-step melodies and, of course, in Cajun culture and Creole.
Nature lovers also have a lot to appreciate in the area. Located on the Mississippi migratory route and on the Atchafalaya Loop of America's Wetland Birding Trail, Lafayette offers a wealth of wildlife to observe, as well as plenty of rivers, swamps and swamps for paddling, fishing and exploring. In addition, it is more affordable than the more famous city of New Orleans, in Louisiana, which is located about 130 miles east of Lafayette. If you're looking forward to a retirement that's like a long Mardi Gras celebration, and you want to stretch your budget while the party goes on, Lafayette is the place to You and retirees won't be short of things to do either.
There are numerous museums and art centers, including an outdoor sculpture park, a zoo and botanic gardens. There's even a casino and racetrack in nearby Altoona, where annual camel, ostrich and zebra races are held (sorry, betting on these exhibition races is not allowed). With its low living costs and generous tax breaks for the elderly, Augusta is becoming a particularly prosperous city. Revitalization efforts have intensified especially intensified in recent years, with the goal of expanding the area's appeal beyond the annual Masters golf tournament held in April and the celebrations and tourism revenues that accompany it.
In a walk-able city center, retirees can enjoy new restaurants, museums, galleries and nightlife venues. In the meantime, they can now enjoy running, walking and biking along the Augusta Canal and kayaking and sailing on the Savannah River. The University of Augusta, along with other schools in the area, has some amenities typical of a university city, such as free classes for residents of Georgia who are 62 years of age or older. The University also provides the region with a first-rate healthcare network, including three hospitals and numerous specialists focused on oncology, geriatrics and health for the elderly.
Low costs and favorable tax policies can make retirement in Magnolia State a pleasant one, and the capital is particularly attractive. Jackson is a surprisingly eclectic city that attracts fans of the Civil War, blues music and even ballet fans. Every four years, dancers from around the world come to Jackson to participate in the two-week U.S. International Ballet Competition to compete for medals, scholarships and positions in ballet companies.
Similar contests are held only in Russia, Bulgaria and Finland. Jackson ranks highly among the best large cities for successful aging due to its affordability and abundance of nurses, nurse practitioners and orthopedic surgeons, as well as care options and geriatric centers. However, keep in mind that residents of the area are often prone to unhealthy habits that you don't want to adopt when you retire, such as low levels of activity and high levels of fast food. The University of Wisconsin brings all the benefits of retiring from a college town to the industrial city of Green Bay.
This includes a thriving cultural and arts scene, quality healthcare, a center accessible on foot with a variety of dining and shopping options and, of course, sports. Fort Wayne isn't a metropolis at all, but if you ever feel the need for a small-town getaway, head two hours south to Richmond. Its fame (apart from being economic) is due to the fact that some of the first jazz records were recorded in Richmond by great artists such as Duke Ellington and Louis Armstrong. The Fayetteville metropolitan area, which includes Springdale, Rogers and Bentonville, offers a low cost but a lot of attractions.
The surrounding Ozark Mountains offer residents outdoor recreational activities and natural wonders to enjoy, while the city center, home to the University of Arkansas, offers restaurants, shopping, and a vibrant music and arts scene, including the Walton Arts Center. Cowboys (and those who want to be cowboys) can feel especially comfortable in Oklahoma City, which has one of the largest cattle markets in the world, after all, but given the revitalization efforts of the downtown area over the past few years, everyone can find something to enjoy. The Bricktown entertainment district has a variety of restaurants and nightlife options. And in the neighboring city of Norman, the University of Oklahoma hosts important sporting and cultural events.
Voluntary status is a good option for savings for retirees of all sizes. In addition to their favorable tax policies, most parts of Tennessee have below-average living costs for retired residents. The cost of living of retirees in major metropolitan and micropolitan statistical areas, based on data provided by the Community and Economic Research Council, includes general costs, housing, food and groceries, transportation, utilities, health care and miscellaneous expenses. The cost of housing has been taken from the most recent Zillow data.
Household incomes, poverty rates, and number of health care facilities come from the U.S. The digital health company Sharecare, in collaboration with Gallup, provides physical well-being and community well-being scores. These are two of the five elements of well-being that make up the Gallup-Sharecare overall well-being index. The other three elements are purpose and social welfare and financial.
Community well-being is defined as liking where you live, feeling safe, and being proud of your community. Physical well-being is being in good health and having enough energy to do things on a daily basis. We show the community score for each location we choose. The Census Bureau and Sperling's BestPlaces also provide population data, including the percentage of the population that is 65 years old or more.
The numbers stand out in these rankings for the benefit of readers, but they weren't factors that influenced our methodology for ranking the best places to retire. Before joining Kiplinger, Rapacon worked as a senior research associate at the b2b publisher Judy Diamond Associates. She has a degree in English from George Washington University. The Best ETFs for Home Builders Offer Investors Efficient Exposure to Growth-Oriented Real Estate Assets.
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So get ready to embark on the adventure of a lifetime and explore new passions. Here are 17 countries where you might be able to live on social security alone. In Vietnam, infrastructure and cities are developing rapidly. The economy is getting stronger day by day. You'll find welcoming people and quality medical care.
Vietnam has a rural landscape, wild islands and paradisiacal beaches. It includes oceans and mountains within a few hours of traveling. Vietnamese people are known for their hospitality and consider everyone to be a member of the family. This country has a pleasant climate all year round. In addition to its great climate, Ecuador is also quite affordable. There is also no shortage of benefits for retirees.
Apartment rentals are only a few hundred dollars a month, including two-bedroom apartments. Ecuador offers plenty of fresh food at an affordable price, a welcoming expat community and an affordable healthcare system. Those over 65 also get up to 50 percent off public transportation and certain events. France is one of the most popular countries in Europe and the capital of haute couture.
They have great food, good culture and excellent health care. Not to mention the glamorous city of Paris, as an added bonus. Mexico is another country where it is possible that you can live on social security alone. It offers a wide range of options for living by the sea.
They also provide expatriate communities established in several areas. Spain has one of the lowest living costs in Western Europe. It stands out for its relaxed lifestyle and superior infrastructure. It also has a first-class healthcare system.
Nicaragua is the largest country in Central America. It has languid beaches and an impressive Pacific coastline. Nicaragua is the perfect destination for those who want to dive, swim in lakes or explore caves. Significant infrastructure improvements have been made in recent years.
There is also excellent medical care and little traffic. Nicaragua has a very low cost of living, and rent is more than 92 percent cheaper than in New York City. If you want to eat well during your retirement, Malaysia is the perfect destination. And he's a newcomer to the American expat scene. Malaysia's multicultural society is a fusion of cultures and tolerates all religions.
Colombia has a spring climate all year round. Its lush green coffee plantations, mountains and beautiful beaches offer an enchanting getaway. How do you like that for a retirement destination? As you can see, there are a lot of places to choose from when you decide to retire abroad. In fact, you've just been offered 17 countries where you could live on social security alone.
However, it is useful to know which countries are affordable enough to live using only social security benefits. In several different countries, the cost of living is so low that relying on your social security check will be more than enough. Locals seem happy with what they have at their fingertips, and residents say they really like where they live, feel safe and take pride in their community.
