Tag: United States

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.


Cheap Retirement Places Outside The US

There are plenty of cheap retirement places outside of the United States. If you are a person who would love to retire at a totally different place from what you are used to, then you can always opt to go abroad.

Going international has its own pros and cons. You have to remember that this is a retirement home that we are talking about and not just a trip. You will probably stay there for the rest of your life and spend every morning waking up to that place. So it is very important to do research before transferring to a whole new area.

Retirees actually have the choice of staying within the country and going abroad.  There are also a lot of great affordable places to live in the United States like college towns. But if you want to extend your retirement savings and go for somewhere really cheap, then going abroad is the right thing for you to do.

If you want to stay closer to the US and your children and grandchildren, you can choose Mexico. Mexico is a great place to choose if you want easy access back to the United States. There are also a lot of expats and retirees in Mexico. You can easily import some household goods from the US tax- free.cheap retirement places costa rica

A great city in Mexico that you can choose to retire cheap is Mazatlan. Mazatlan is known for its beaches where many retirees and tourists stay. The weather is also beautiful where it is sunny almost every day in the year. Strategically, Mazatlan is not too far away from the border and not too near the border as well.

When choosing a city in Mexico to retire at, it is always advisable to stay away from the cities right next to the US borders due to the incidence of crimes and drug related issues. Mazatlan also offers great health care services through their hospitals situated in the city. Health care in Mexico will cost you a fraction than what you will typically spend in the United States.

One good reason to choose Mexico is the fact that you will be able to find a lot of expats and retirees as well. Mexico also has very good tourist spots and the entertainment industry is great too. You can easily buy a home at an affordable rate or you can rent a townhouse at a cheap price. You can also hire a housemaid easily too.

Panama is another country that you can add on your list of cheap retirement places outside the US. Panama is a country that is not that far from the US. The good thing about Panama is the fact that they are also using the US dollar currency which will be very convenient for you. Even if they have the same currency, prices for basic commodities and services in Panama are very cheap compared to the US.

Your money will definitely last longer if you choose to retire there. Panama is actually one of the cheapest countries to retire based on surveys. There are also a lot of expats and retirees living there so you will find yourself around great company.

Another great thing about Panama is the people. They are generally friendly and very welcoming. If you choose to live in Panama City, which is its capital, most people speak English. Spanish is their native language but you can easily buy a translation book or get some Spanish classes at a cheap price too. Panama also offers great benefits for US retirees since some of the hospitals there are affiliated with US companies. You also get to enjoy some retiree discounts and a favorable tax treatment too. But for top medical care, you would be advised by the doctors to travel back to the US due to unavailability of technology and resources.

Panama is generally quiet and most areas are rural aside from the larger cities. So if you want a cozier environment, then Panama is the place for you. During summer, Panama weather can be very punishing since it will get very hot outside. Most people from the North who are used to snow will not like this but if you are from warmer states like Florida or Texas, you will probably get used to the warm weather easily.

Uruguay is also one of the cheap retirement places to consider. Uruguay is in South Africa which borders Argentina and Brazil. One good thing that attracts retirees and expats to Uruguay is the fascinating culture that this country has. There are also a lot of wonderful and lovely attractions that retirees can visit including their famous beaches. There are a lot of great foods in the cities and the people are generally friendly.

Your money will definitely stretch in this country since the cost of living is very low. Although there are hospitals in Uruguay that can cater to your health care needs, you will need to fly out to better hospitals in nearby countries if serious and complicated medical issues arise. Uruguay is also a very peaceful and quiet place so this country will not be the best option for the people who likes the bustling city lifestyle.

Costa Rica is also a great choice for baby boomer retirees. The country has a very good economy where retirement income and real estate profits are known to be untaxed. There are also a lot of wonderful beaches in the country where you can relax and have fun. If you want to be in touch with Mother Nature, Costa Rica also has great jungles.

Compared to other Central American countries, Costa Rica is actually one of the most expensive in the area but if you compare the cost of living there and the United States, Costa Rica is still a lot cheaper. Costa Rica is great since it is one of the most peaceful countries in Central America where crime rates are low. These countries are wonderful choices which have their own pros and cons. It is very important to do proper research before putting your money into something.

There you have 4 cheap retirement places for a baby boomer like yourself to choose to retire cheaply.