Looking for a Place to Retire? Here is a list of the best places in 2015!
Ready to retire? Most people when they retire lose a big chunk of their income, so it becomes very important to make sure your money can stretch the furthest. With proper planning you will not have to change your lifestyle at all AND you may even be able to improve your lifestyle a great deal if you are willing to relocate.
There are plenty of places that you can retire to where you will get more bang for your buck but you also want to make sure that your quality of life is what you want it to be. Don’t you want to get more out of your retirement than just a cheap place to live? Retirement use to mean heading to Florida or for more adventurous retirees heading to Central America but retirement has evolved and there is more to quality of life than just a low cost of living.
There are some places that you may be very surprised to find are turning into the “new” retirement Meccas. Places that are considered ideal not because of the warm sunny weather but because they offer excellent health benefits and a low cost of living. The Milken Institute recently released a report that looked at 353 US Cities and ranked the cities based on “economic strength, abundance of health resources, active lifestyles, opportunities for intellectual stimulation, and access to amenities.”
Financial well being plays a tremendous role in being satisfied in retirement. All the cities that ranked high on the list all had at least that one common factor, they offered the opportunity of financial well being. Take a look at the cities listed below to get a feel for what retirement looks like in 2015.
If money is what makes you happy above all else and a low cost of living is what your retirement is all about than consider these surprising places that offer a low cost of living and have a few perks that will keep life interesting:
Its a college town which means that there is plenty to do on the cheap or in many cases for free. Much of the housing is very affordable because everyone knows that students do not have much money. The climate is nice.
Salt Lake City, Utah
Salt Lake offers a low cost of living, fairly priced assisted living facilities and has a very high population of home health care workers which means if you need someone to come in and give you a hand the cost will be affordable.
Yes, Toledo Ohio (never saw that one coming) offers a great list of activities and is considered the water park capital of the midwest. The housing is affordable and it has a large number of hospitals, making health care easy to find and relatively affordable.
The cost of living in Abilene TX is 13% lower than the national average! That is a pretty low cost of living.
Sioux Falls, South Dakota
Another pretty big surprise is Sioux Falls SD. The biggest selling point (besides the low cost of living) is the high volunteerism rate among seniors in this area, it is a telltale sign that mature Americans in this community are keeping busy and there are a lot of activities to get involved in.
Rapid City, South Dakota
This city has a booming economy, plenty of things to do and a relatively low cost of living.
Nashville makes the list because well its Nashville! It has a low cost of living and it is a great place to live!
Another surprise on the list but it does offer a low cost of living a stable economy and has a strong senior community.
Denver has a lot to offer retirees. Low cost of living, ample affordable housing and a great health care system.
If you are ready to retire there are ways to find where your money will stretch the furthest AND what the area has to offer. You can use SMART ASSETS an app that will help you to figure out how much money it will cost you to live in a given area.
You can also check out the Forbes 25 best places to retire list (it changes every year or so) to get a better idea of what place is right for you. Just so you know 9 out of the 10 best cities overall for retirement are still located in Florida when it comes to cost of living! Delaware and New Hampshire offer the best tax breaks for seniors and Anchorage Alaska.
Ultimately it really comes down to your personal preference. If you do not mind the heat than Florida is a great place to retire too, if you don’t mind the cold than maybe Sioux SD is more your style.