Where to retire?
The U.S. Is Growing Older. The implications of this demographic shift require attention now. Cities are at the forefront, as their leaders act to help older adults realize healthy, productive, and purposeful lives. Best Cities for Successful Aging examines the capacity of metropolitan areas to address the challenges and capitalize on the opportunities as a new future of successful aging takes shape across America.
This interesting study by Merrill Lynch and Age Wave examines where retirees choose to live in retirement. Among other interesting results, they found that not only do many retirees choose NOT to downsize their home, they actually move to a larger home to have room for family members to come and visit and as a place that the extended family can gather. That would have a significant impact on planned expenses in retirement that many people probably haven't considered.
Money looked across the country to compile their list and highlighted affordable smaller cities. They paid close attention to things like culture, taxes, activities and healthcare. The list highlights places with populations of 150,000-500,000 people. "When it comes to retirement, you find all those things in major cities, but the cost and congestion makes it really difficult," said Rosato.
You don't need a huge nest egg to retire well, especially if you're willing to move to a place with a low cost of living. Relocating to one of these places could help you to get by on a combination of Social Security and a small amount of savings, or allow you to retire younger or maintain a better lifestyle than you could in a more expensive city.
Some people like big cities, some like small towns. The Milken Institute looks at factors including health-care, affordability, transportation, cultural and outdoor activities, employment and safety, and says these are the 10 best big cities to retire happily in. The best places to spend retirement in are safe and affordable, where people are healthy and generally happy. They’re places with economies that offer job opportunities for those nearing retirement age, and with living arrangements that suit the needs of people ages 65 and older.
Retirees looking to Nevada can find rugged Western beauty without high West Coast prices. One of Nevada’s biggest draws for many is that it has no state income tax and no inheritance tax, leaving retirees with more money to enjoy. “Low taxes are the underlying driving factor of anybody I talk to that is considering a move to Nevada from California,”