When it comes to planning retirement, the first step is choosing a place to life. There are a number of great lists detailing the amazing places to retire, offering information on everything including where you’ll find the most luck getting a good deal on a place to live, lower living costs and lower taxes, all in the interest of allowing you to live the best life possible once your years of working come to an end.
Living luxuriously in your retirement is a great way to obtain a greater quality life by either living on the beach in paradise or simply in closer proximity to grandchildren. It can be a critical part of your day to send the grand kids home to mom and dad. Money Journal selected the greatest candidates for retirement spots which will have something to offer to everyone.
1- Las Vegas, Nevada -Cheap entertainment and low prices of homes both speak in favor of Vegas retirement. An enjoyable climate, casinos and affordable dining are abundant in this great retirement spot—and it’s also good to consider the fact that there isn’t income tax imposed by the state of Nevada. Although the high climate of the summer months, where even the shade can reach 100 degrees, and the crime rate need to be kept in mind, Vegas is still a great retirement candidate.
2- Austin, Texas – Austin is a fast growing city also enjoying the perks of living in a state without income tax with a pleasantly warm climate and big city amenities such as plentiful doctors and an abundance of culture to be enjoyed. Unfortunately, the prices of homes are rising and now sit at an average of $208,000. Settling to live in a home nearby Austin is still an option. Keep in mind that professional sports teams is not one of the amenities of a big city Austin offers.
3- Bangor, Maine – Low living costs and the beautiful nature of New England are just some of the perks of retiring in the old city of Bangor. Home costs lie around $127,000 on average and car insurance is cheapest in the nation in Maine. There air is fresh and the lifestyle is laid back. It’s also nice that the city is a fairly brief trip by car from Boston and New York, so enjoying a brief stay in the big city will always be an option. You’ll need to consider the lack of amenities of an urban lifestyle the harsh winters faced by Bangor locals.
4- Denver, Colorado – For those looking to settle down in a big city, Denver is a great option. The amenities of an urban lifestyle include loads of hospitals, amazing public transportation, museums, professional sports teams, a great library system and plenty of culture. Denver can be found at the Rocky Mountains’ base and is great for outdoorsy types with the excellent climate even though the “mile high city” does have quite an altitude, and the snow that falls a few times yearly quickly melts away.
5- Jacksonville, Florida – If you’re looking to live in a big city with an excellent climate, you will find housing prices averaging $132,000 and no income tax from the state in Jacksonville. Amenities of the big city, such as professional sports, as perks of the city, as well as deep sea fishing, boating and beach opportunities. Retirement assets and houses are also protected from collection of debt by laws in the state of Florida.
6- Columbia, Missouri – If you are looking to settle into a small Midwestern town, Columbia is a great option to keep in mind. Right of 1-70 between St. Louis and Kansas city, the college town features a great location a fairly short trip by car away from two large cities. Reasonable housing prices are also a plus, averaging $167,000.
7- Prescott, Arizona – Prescott is an older Western town that feels nothing like Arizona with its low crime rate and good quality air. Like the rest of Arizona, Prescott features considerably low living costs and taxes with the lifestyle of a small town, but still lies fairly close to the big city of Phoenix. The price of the average home is high, however, somewhere around $207,300.
8- Medford, Oregon -Medford is for you if you are attracted to the lifestyle of a small down and the beauty of nature. Around $147,000 average home costs (low by West Coast standards), the laid back atmosphere and pleasant climate can get a little wet, particularly in the winter. City dwellers may not appreciate being hundreds of miles from any big cities or the unavailability of amenities of an urban lifestyle.
9- Huntsville, Alabama – This southern city boasts low living costs, no income tax from the state, a pleasantly warm climate, and a ton of locations to play golf! The average price for a home lies around $176,000 and some things must be kept in mind when considering retiring here, including the lack of amenities of an urban lifestyle, the higher crime rate, and the great proximity from large cities. Also keep in mind that it’s in the middle of the Bible Belt, which can be seen as a drawback or a plus.
10- College Station-Bryan, Texas – College Station-Bryan may very well be the next big destination for retirees when compared to the rising costs in San Antonio and Austin. The low living cost, pleasant climate, lack of income tax from the state, low crime rate, proximity to Houston and amenities of a college town, all make this a lovely choice for retirement. The average cost for a home is around $149,000.
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