Search

12 cheap places to retire that offer great quality of life

SHARE THIS STORY

By Theo Thimou, clarkhoward.com 

When it comes to retirement, you want to live in a place where you’ll enjoy a great quality of life and where your money will stretch the furthest.

Kiplinger has crunched the numbers the top retirement spots in 50 states and narrowed it down to places where the cost of living for retirees is below the national average.

In addition to retiree cost of living, their study looked at lifestyle, safety, taxes and quality of health care.

To develop this list, Kiplinger used info from their own Retiree Tax Map, the U.S. Census Bureau, the Council for Community and Economic Research, HealthView Services and the FBI.

12 affordable places where you’ll actually be happy retiring

Decatur, Alabama

Retiree cost of living: 11% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $364,860 (U.S. average: $394,954)

Prescott, Arizona

Retiree cost of living: 3.7% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $378,205

Hot Springs, Arkansas

Retiree cost of living: 7.5% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $355,695

Grand Junction, Colorado

Retiree cost of living: 4.4% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $384,980

Punta Gorda, Florida

Retiree cost of living: 5.2% below U.S. average

What a retired couple will spend on lifetime health care costs: Above average at $409,097

Sandy Springs, Georgia

Retiree cost of living: 5.1% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $376,884

Boise, Idaho

Retiree cost of living: 7.3% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $366,449

Bloomington, Indiana

Retiree cost of living: 9.8% below U.S. average

What a retired couple will spend on lifetime health care costs: About average at $398,396

Des Moines, Iowa

Retiree cost of living: 9.1% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $372,712

Topeka, Kansas

Retiree cost of living: 8.0% below U.S. average

What a retired couple will spend on lifetime health care costs: Below average at $376,280

Lexington, Kentucky

Retiree cost of living: 7.8% below U.S. average

What a retired couple will spend on lifetime health care costs: About average at $393,195

New Orleans, Louisiana

Retiree cost of living: 4.3% below U.S. average

What a retired couple will spend on lifetime health care costs: About average at $395,452

What if you think you can’t afford to retire?

As you read this, you might be thinking, “Gee, that’s nice, but I don’t have a dime saved for retirement. I will probably work until I die.” That’s kind of a bleak scenario. But the beauty of it is that you change that scenario starting today!

Maybe you feel there’s no money to save with. If you feel you couldn’t possibly do a 401(k) because there’s no room for any savings, Clark talks about starting by saving just 1%. That’s a scant one penny out of every dollar you earn.

Then, six months from now, bump your contribution up by just another 1%, and do it again in another six months. After five years of that, you’ll be saving 10% of your pay before any employer match! But by doing it just 1% at time, you won’t notice the difference in your paycheck because it’s all little baby steps.

For more information follow this link, clarkhoward.com

Share on Facebook
Share on Twitter
Share
Share