Tag: Retirement

Cheap Places to Retire in the United States

Retirees should choose carefully the places they want to live for the rest of their lives. After all those years working and saving up for a good retirement, it is always important to choose a place where you could live a good life. You do not want your savings to go to waste just by choosing a city that does not provide you with the necessary commodities that you need.

But choosing a good and cheap place to retire in the United States is not a simple task. happy retirement partyWith the ongoing recession and a drop in the economy, this task is even more difficult than ever. Although housing prices are dropping in most areas of the country, this should not be the only determining factor when it comes to the place where you want to retire. It is always important to consider some other factors like the economy, income tax rates, infrastructure, healthcare, safety, security and potential retirement job opportunities.

As people work, they stash an amount for their retirement in the future. But the reality is most Americans are actually behind on the retirement savings that they had. And people lost a lot of savings because of the economy today. The reality is, the dollars that you have saved for years will not be able to stretch that far enough today.

Choosing a good and affordable place to stay is a perfect way to make the most out of your retirement savings. If a retiree does this, he can get a place for a lesser amount, pay lesser taxes, and eventually spare some extra dollars for some future use. There are a lot of cheap places to retire in the United States. In each of these specified places, there are pros and cons. Retirees and soon – to – be retirees should take all these positive and negative points into consideration.

The first places that you should consider are college towns. College towns are great since the economy is centered on education. Colleges provide a very stable economy to the city since education is practically immune from recession. An example of a college town is Gainesville, Florida where University of Florida is situated. A good reason why a retiree should consider Gainesville is the fact that the community has an employment program for senior citizens where they are allowed to work part time in the local industries like health care, retain and even in the university.

Gainesville, Florida also boasts about the University of Florida Health Science Center which is able to provide topnotch medical care to residents. Health care should always be an aspect that retirees should not miss. Although the cost of living in Gainesville is more or less similar to that of the national average, housing prices are fairly low and you get more than what you pay for.

Another great reason why college towns are great for retirees is the fact that retirees and cheap places to retireseniors get special benefits in these places. When it comes to arts and entertainment, college towns can showcase a lot of wonderful shows and programs and seniors can enjoy a special discount for the show’s tickets. Some of the shows are even offered for free. Rogers in Arkansas is also a great choice where University of Arkansas is located. A lot of retirement houses are in the area and prices are affordable because of the presence of the university. The retirement houses are in close proximity to recreational activities as well, making sure that the retirees and seniors are keeping themselves busy. The economy is supported by the university itself and a nationwide company as well. According to studies, college towns are the areas that are most likely to bounce back easily during recession. That is one very attractive quality that retirees and soon – to – be retirees should take note.

Ithaca in New York has been known to be one of the most affordable cities in the country. There are a lot of good houses that retirees can purchase at a very cheap price.        Ithaca is also where Cornell University and Ithaca College is located. Presence of colleges in the city is always a good sign and may attract potential retirees to choose the place.

Ithaca can also boast of their statistics to unemployment which is actually almost two percent below the national average. The arts and music scenes in Ithaca are wonderful and they have a downtown mall that houses bookstores and a cinema. Aside from the drive to the economy by the schools in the area, manufacturing companies and high-tech jobs help the economy as well. Seniors and retires will also love the breathtaking view that Ithaca provides with the hills as the backdrop.

Orlando, Florida is also a cheap place to retire here in the United States. If you compare Orlando to other cities, home values in this city are much steadier. Florida also lacks income tax which is a perfect perk for retirees since this will allow their retirement savings to extend a little more. The driving factors for Orlando’s economy are the convention centers, theme parks, and a few film and television companies.

Orlando, Florida is also where Florida Hospital is relocated. This is good news since seniors and retirees do not have to travel to other cities just to get quality health care. Florida Hospital has been dubbed one of the best in the country and is the city’s biggest non- profit hospital.

Pittsburgh in Pennsylvania is one of the cheap places to retire in the country. Pittsburgh is a wonderful place to retire to since the economy is not as bad in this city compared to other areas in the country. It hosts seven Fortune 500 companies. Compared to the national average for cost of living, Pittsburgh is five percent lower. This city also has a low crime rate and has around 20 great hospitals and schools. These are only some of the places in the country where retirees can choose to live during their retirement. It is always important to consider all factors and make sure that you will be enjoying in whatever place that you pick.

There are also plenty of places with a low cost of living in the great state of Texas. As long as you can stand the heat during the hot summers. You can find affordable retirement homes, retirement communities and assisted living facilities in San Antonio, Waco, El Paso, and Mcallen. Home prices tend to be a little bit lower and since many of the jobs are dependent on the oil and gas industry there is plenty of work if you want to start a second career. Home prices are low. You can find hundreds of 3 bedroom 2 bath single family houses around San Antonio for around $100,000. There is no state income tax as well in Texas. Another plus.

If you find yourself on limited retirement savings you can still find an affordable retirement destination. You can start with these ideas of cheap places to retire in the United States and begin your search for your retirement dream home.

 

Cheapest States To Retire

Retiring on a budget? Wondering how to make your Social Security or pension stretch as far as possible? Looking to have a decent lifestyle on not much money? Then it’s important for you to know the cheapest states to retire.

Here are the 14 states that are the cheapest states to retire because they offer very low costs of living and affordable housing and low taxes.

Florida

Florida is the most popular state for retirees and one of the reasons is because it is the cheapest place you can retire. In fact, when you retire to Florida you qualify for some perks. There is a property tax exemption of up to $25,000, no state income tax and it is now much cheaper to buy a home than it was just a few years ago. Florida has many inexpensive senior citizen communities that offer another alternative for retirement living.

Oklahoma

In 2009, the Missouri Economic Research and Information Center ranked Oklahoma as having the lowest cost of living and the fourth-lowest total tax burden in the US.  It has affordable housing whether you are buying or renting, as well as a low tax burden.

Tulsa, the second largest city in Oklahoma, ranks as one of the cheapest cities in which to live in the US. It is also considered an attractive place to live due to low crime levels, thousands of acres of city parks and trails, good entertainment and sporting venues and a low unemployment rate.

Arkansas

Arkansas is a cheap retirement option as the average house price is just $87,000. Arkansas also offers excellent medical service, senior support programs and a low cost of goods. Plus, it is very welcoming to newcomers. The northwest corner of Arkansas has been booming over the past 10 years, mostly due to the fact that Bentonville is the corporate headquarters of Wal-Mart.

Texas

The three cities in Texas that appeal the most to retirees due to their low cost of living are Brownsville, Ft. Worth and Harlingen. As an example of how affordable living can be in Texas, one of the suburbs of Fort Worth, Benbrook, has an average house price of around $145,000 but is a fantastic area that offers endless recreational opportunities, beautiful scenery and no state income tax.

Arizona

This state is appealing to retirees because of its inexpensive housing, excellent weather and all of its recreational activities. Arizona has many retirement communities and some great small towns such as Brisbee, Tucson and Prescott that offer very affordable costs of living.

North Carolina

North Carolina may be the best state of all, as well as a cheapest state, for retirees. It offers a great geographic diversity with both coastal and mountain recreational activities and has some of the best hospitals in the country. Three great towns in North Carolina to consider for retirement are Hendersonville, Asheville, and Wilmington.

Tennessee

Tennessee has no sales tax, abundant land and inexpensive housing. It also has the cultural opportunities you would expect to find in its larger cities – Nashville and Memphis. Tennessee as well as the spaciousness and appeal of its rural areas. One of the best cities in America to retire is Paris, Tennessee.

Pennsylvania

The cost of housing in Pennsylvania can be 30% below the national average so a retiree can buy housing much cheaper than in many other states. Pennsylvania has numerous airports that make it easy to get in and out for travel to visit friends and relatives. Philadelphia and Pittsburgh offer many cultural opportunities and Pittsburgh is rated as one of the cheapest places to retire in America.  Plus, Pennsylvania does not tax retirement income.

Georgia

This southern state offers good weather, abundant recreational opportunities and a lot of cultural activities.  Atlanta, often called the capital of the south, has its great amenities.  There is a low cost of living in its smaller towns such as Gainesville, Athens and Columbus. Georgia has excellent medical care available throughout the state

Colorado

Colorado is renowned for the beauty of its mountains, rivers and lakes, and wide-open spaces that make it a great place to retire. It has smaller communities with a low cost of living that are near large cities such as Denver and Colorado Springs with their cultural activities for retirees. In fact, Aurora, Salida and Fort Collins, Colorado are on almost everyone’s lists of best, affordable small towns for retirees.

Iowa

This sleepy, Midwestern state offers a nice relaxed lifestyle that many retirees will find attractive, especially those who are coming from a fast-paced lifestyle. Iowa’s capital, Des Moines is listed as one of the most affordable cities to retire. It is the home of more insurance companies than any other city in America so it also offers opportunities for part-time jobs for retirees or even full time jobs if you want to continue working after retirement.

South Carolina

Here you will find some of the finest beaches and golf courses in the nation. What happened to housing in the US also happened to housing in South Carolina so home prices for have fallen considerably – making it great for retirees. Another plus is that South Carolina’s weather is very pleasant 12 months of the year.

Now you have a better idea of the cheapest states to retire in America. You can check hotel and flight prices to see if you can make a trip to a few locations you are thinking about to see how well you might fit in one of these cheap places to retire.

Mexico – A Cheap Country To Retire

One cheap country to retire to that many Americans are already somewhat familiar with is Mexico. That is because it is our neighbor to the south. Many people have gone there on vacation. That makes it one of the better known options.

One of the reasons why Mexico is a popular place for Americans who want to stretch their retirement income to move during retirement is the fact that it is so close to the U.S. It is easy for them to go and visit family and friends from time to time.

Chichen Itza Image via Wikipedia

Mexico also has a varied climate, so that you can choose the city where you live based on the type of climate you prefer. You can live somewhere that is warmer, or somewhere that is a bit more temperate depending on your preferences. You can live near mountains or the beach, or in a valley, it is all up to you.

Obviously, the fact that it is a cheap place to retire to and expenses will be a lot less there is another factor people consider. Health care is decent and insurance only costs a fraction of what you would pay in the U.S. Everything else you purchase is also likely to cost less. This includes the cost of property, making it so that it isn’t impossible to own a nice house of your own in retirement. These cost savings make it possible to have a maid and a house on a very low budget, which wouldn’t be possible in the U.S. The exchange rate is also very favorable toward the dollar.

The transport system makes it so that it is easy to travel around the country and from Mexico to other countries. This means you can see all the famous sites in Mexico as well as visit other countries in Latin America.

Because of the nearness to the United States, you can also find many of the products that you are familiar with easily in the local stores. You can also find people who speak and understand English, although they do appreciate it if you make an effort to learn Spanish.

The Benefits of Living in Venezuela – A Cheap Country to Retire

There are many people who would like to move to another country upon retirement, but selecting the best place to live is often a difficult choice.  While you may be able to locate several places that offer the same standard of living at a much cheaper rate, there may be other factors that weigh heavily on your decision.  You will want to take a look at the cost of living within the country as well as the weather conditions, prior to deciding to move upon retirement.  Although there are many choices, one of the top places to move is Venezuela, a cheap country to retire.

Puerto Cruz beach in Isla MargaritaImage via Wikipedia

When taking a look at the overall cost of living within the country of Venezuela, it is found that it is about 50% of the cost of living in the New York City area.  Many factors go into this cost, including the price of food, the cost of housing, and transportation.  While the price of food and the selection within the supermarkets are about the same as within the United States, the cost of housing is about 60% less than it is in New York City.  Transportation is generally much less expensive as the cost of a liter of fuel remains at $0.12 in this oil-rich country.  Although the price of a car is often much more expensive than it is in the United States, the minimal amount of required insurance is often very cheap.

Venezuela is often considered a cheap place to retire because it is a poor country with the average monthly salary being at $800.  Many Americans who have moved to this country have found that they can make a substantial amount of income by owning their own business.  The taxes on the income for non-residents, however, is very high at a flat rate of 34%.  Health care may also be a factor in the consideration of retiring to Venezuela.  There are many private hospitals and doctors that are reasonably priced, but it is best to stay away from the public hospitals that are considered to be unacceptable by most foreigners.

Many of those who are considering Venezuela are enticed by the excellent weather conditions.  Within Margarita Island, the most popular region of Venezuela, the temperature does not stray far from 80 degrees year round.  With little precipitation and low humidity, the country is far enough away from the hurricane zone to make it an enjoyable place to live.  Since Americans are welcomed by both the government and many of the people because of the economic improvements they often bring along, this can be an excellent place to live upon retirement.