15 US Cities You Should Really Consider for Retirement
With a lot of discussion about how to have enough for a comfortable retirement revolving around stock markets, bond yields and 401k accounts, it’s easy to overlook one of the simplest tools for ensuring that your nest egg doesn’t crack early: good old-fashioned budgeting.
A new survey from GOBankingRates polled more than 1,000 Americans on their spending habits and revealed that retirees can save an additional $8,000 a year if they cut certain expenses from their budget.
·GOBankingRates· (monkeybusinessimages / iStock.com)This article originally appeared on GOBankingRates.com: 15 US Cities You Should Really Consider for Retirement
Retirement is something we all look forward to. After years of hard work and dedication, you deserve to have a comfortable retirement. However, you might need to move in order to find the comfort you’re searching for.
Searching for the perfect place to retire can feel overwhelming and difficult. Fortunately, GOBankingRates compiled a list of 15 places you should really consider for retirement based on various factors, including retirement income, healthcare costs, rent and more. Keep reading to see which places you should really consider for retirement.
1. Washington, D.C.
Washington, D.C., has the highest average retirement income among the nation’s largest cities. It also boasts some of the most affordable healthcare in the nation. And with numerous museums, monuments and memorials, you can be sure that there is always something to do.
2. Chesapeake, Va.
You can find affordable and adequate healthcare if you retire in Chesapeake. And, the stable housing market means that rent likely won’t hike up anytime soon.
3. Honolulu
Although the cost of living is nearly the highest in nation, Hawaii’s healthcare network is one of the most affordable in the nation.
4. Portland, Ore.
Resting on the banks of the Columbia River, Portland is a great place to consider for retirement. In fact, it’s one of the more affordable places for retirees. With high positive healthcare results and a stable housing market, retirees are free to explore the natural wonders that Oregon has to offer.
5. Pittsburgh
Pittsburgh offers retirees an adequate healthcare network as well as a stable housing market. It’s also the place to be if you’re an avid sports fanatic, as Pittsburgh is home to major baseball, football and ice hockey teams. As an added bonus, if you plan on owning a home, Pittsburgh is one of the few cities where you can still own a home for less than $1,000 a month.
6. Chicago
If life in the big city is a necessity, consider Chicago as your retirement destination. Not only has Chicago seen a 11.9 percent increase in retiree income over the past five years, but healthcare has remained highly affordable.
When considering Chicago, make sure to look at the suburb of Olympia Fields — it has ranked high on the list of the best suburbs for retirees.
7. Denver
If crisp mountain air and beautiful scenery are a must for your retirement, Denver provides both with the added bonus of great and affordable healthcare. Additionally, the number of seniors below the poverty line has decreased significantly over the past five years, and home values have increased significantly, according to a recent GOBankingRates study.
8. St. Louis
The Gateway to the West not only boasts a highly affordable renting market, but it saw one of the highest increases in retiree income the over the past five years.
9. Nashville, Tenn.
Living out your golden years in the Music City promises to deliver both fun and financial security. In addition, the amount of seniors living below the poverty level in Nashville has declined by nine percent over the past five years.
10. Wichita, Kan.
The main benefit to retiring in Wichita is that you can really stretch your dollar, as an affordable housing market and a low cost of living make it easy to put that extra money into your savings. Coincidentally, Wichita is also is located in one of the best states to retire in if you’re rich
11. New Orleans
New Orleans is the perfect city for retirees who appreciate rich culture and entertainment. And while the average retirement income has increased 10 percent over the last five years, think twice about before investing in any property in the area. New Orleans is one of the worst cities to own investment property.
12. Henderson, Nev.
Located just 30 minutes outside of Las Vegas, Henderson offers retirees manageable rent. The city has also seen average retiree income increase steadily over the past years.
Save on Taxes: The Most (and Least) Tax-Friendly States for Retirees
13. St. Paul, Minn.
Self-proclaimed as the most livable city in America, St. Paul offers retirees a city lifestyle and the ability to explore the natural beauty Minnesota has to offer. Retirees also have access to some of the best healthcare in the nation, as it is both affordable and effective.
14. Garland, Texas
Just a short drive out from Dallas, Garland offers retirees manageable renting costs. It’s also located in one of the few states that don’t have an income tax. Garland is one of the cities where the housing market has outperformed the stock market.
15. Baltimore
Baltimore is already one of the cheaper cities in the U.S. to rent in, so it could be an affordable option for retirees who want to rent. On top of that, the average healthcare costs are some of the most affordable in the nation.
Click through to see how long $100,000 in retirement will last in every state.
More on Retirement
We make money easy. Get weekly email updates, including expert advice to help you Live Richer™.
