When many people retire, they are on a fixed income. Whatever money you had saved for retirement, would need to last you the rest of your life. If you are planning on moving after retirement, there are a few cheap places that you should consider.
If you do not mind snowy winters, Pittsburgh is a great place to retire. The cost of living is 8.5 percent below the national average. There are numerous hospitals and health centers in Pittsburgh, allowing seniors to get the medical treatment that they need. If you do not drive, you do not need to worry. Senior citizens can ride the city’s buses and trains for free.
If you have family in the Midwest, retiring in Indianapolis is a great idea. The cost of living is 12.8 percent below the national average. While living in Indianapolis, there are plenty of cultural activities, including:
- The Cultural Trail
- The Canal
- White River State Park
- Mass Ave arts district
Omaha ranked number 3 in the Milken Institute’s Best Cities for Successful Aging report. With a cost of living at 11.7 percent below the national average, retirees do not need to worry about spending too much money. The city’s tax burden, however, is a little higher than the average in other states.
Decatur is one of the best places to retire, as it has some of the lowest taxes in the United States. With the cost of living at 10.8 below the national average, it is one of the most affordable places to live. Weather is not an issue in Decatur. It is relatively warm all year, without getting too hot. There are also a number of cultural attractions which you can visit, including:
Large district of Victorian homes
Cotaco Opera House
The Milken survey ranked Decatur, number 2 in the best nursing home care in small cities. This gives many retirees, peace of mind.
There are several advantages to retiring in Tulsa. First, Social Security income is not taxed. Also, the state estate and property tax is low. If you plan to work after retirement, Tulsa is a great place, considering the unemployment rate is extremely low. With the cost of living 11.6 below the national average, Tulsa is a great place to retire.
Your retirement should be a wonderful, stress free time. If you choose one of the cheapest places to retire, you should be financially comfortable.