8 Places to Retire & Get the Most Bang for Your Buck

It’s so important to save for our retirement. Many people start paying into pensions in their early 20s to ensure they have enough money for when they retire. However, even with that, many people will not have enough money to cover all their expenses by the time they retire and many people are now moving to countries where they can get more out of their savings.

Check out the storymap below from Easy Life Cover for a complete overview of the best countries to retire in to ensure you get the most out of your savings. There are age, income and residency requirements in most countries, but if you meet the criteria, you may be surprised to learn that in some of the countries, $200k has the potential to last up to 30 years! Even in the some of the most expensive cities like Bangkok, Thailand, the cost of living can still be 50% to 60% less than in larger US cities such as New York and Chicago.  Keep in mind that some countries do require a visa.

If your retirement savings aren’t as much as you’d hoped for, there is always the option to start your life over and have a great standard of living in many beautiful countries around the world.   Also, many of these countries offer special programs designed specifically for retired people such as discounts on utilities, hospital services and flights.

Storymap compliments of Easy Life Cover

Where are Americas Most Healthiest and Affordable Places to Retire? (infographic)

A recent study by the Center for a Secure Retirement researched America’s best cities for a healthy and more affordable retirement.  The study, highlighted in the infographic below and published in detail here, ranked 60 of the largest U.S. metropolitan areas in terms of health and affordability for middle income retirees (those with household incomes between $25,000 and $100,000 and investible assets of less than $1 million) .

 

To determine how healthy a city was and for the city to qualify as one of the most healthy cities,  the study examined eight different categories including healthcare, the economy, social wellness, activities, the environment, transportation and crime.  To determine a cities affordability and for the city to qualify as one of the most affordable places to retire, the study paid special attention to the cost of living index, median housing prices and the median rental prices.

Some of the best places to live in the us in retirement were surprising as it appears that being the most affordable place to retire wasn’t always the most important factor as Seattle, a somewhat more expensive city, got the number spot due to it’s wealth of outdoor activities.  Hartford was ranked as having the highest concentrations of Boomers in the U.S. and one of the top ten healthiest cities in america,  probably due to it having one of the most affordable home healthcare industries in the study. While the most physically healthy residents live in Salt Lake City, also one of the healthiest cities in america, many retirees love Denver and Portland for their abundance of outdoor activities and many cultural activities,  according to the study.

So here is the lineup of the top 10 healthiest cities to live in retirement and most affordable places to retire in the US.

  1. Seattle, Washington – Despite being one of the more expensive cities on the list, Seattle got the number one spot due to it’s natural beauty, moderate climate and wealth of outdoor activities.
  2. Minneapolis-St. Paul, Minnesota – Even though it’s known for it’s cold weather, the number two spot went to Minneapolis-St. Paul where retirees report high levels of satisfaction and social and emotional supprt.
  3. Denver, Colorado – Seniors and young people alike love Denver for it’s abundance of outdoor activities.  The City also ranked well for it’s wealth of cultural activities which include the Denver Performing Arts Complex which is one of the largest centers for the arts in the U.S.
  4. Portland, Oregon – Popular with both the young and retirees alike, Portland’s natural beauty, attractions and educational opportunities continue to entice new residents.  Also noted in the study was the Oregon Health and Science University Hospital which is nationally ranked in five adult specialties, including oncology and geriatrics.
  5. Hartford, Connecticut –  According to the study, Hartford has one of the highest concentrations of Boomers in the U.S. probably due to it having one of the most affordable home healthcare industries in the  study. It appears that the residents also get involved in the community as the city has some of the highest levels of civic involvement and volunteering, the study notes.
  6. Omaha, Nebraska – A good economy, low cost of living, housing prices, unemployment, and low crime rate make Omaha attractive as a healthy and affordable place to live.  Not to mention high levels of satisfaction and support being reported by local resident Boomers.
  7. Baltimore, Maryland –  Mostly noted for it’s healthcare facilities which include the Johns Hopkins Hospital, Mercy Medical Center and UM Medical Center which rank among the best in the country.
  8. Pittsburgh, Pennsylvania –  It appears Boomers love Pittsburgh,  not only for its affordability but also for its low crime and top cultural institutions that include the Andy Warhol Museum and the Pittsburgh Public Theater.
  9. Cleveland, Ohio –   Cleveland’s low housing prices and top hospitals for cardiology, urology, geriatrics, oncology and a dozen other specialties gained it the number nine spot.   Playhouse Square, one of the nation’s top theater districts adds to the cultural way of life that resident retirees enjoy.
  10. Salt Lake City, Utah – This city was noted as having some of the most physically healthy residents in the study boasting low levels of smoking, cancer, heart disease and Alzheimer’s disease. Good pubic transportation also helped this city gain its number ten spot.

If you’re looking for an affordable place to retire or want to learn more about the most healthy cities to retire in,  you can read about this study and which other cities were ranked in the study on America’s Best Cities for a Healthy (and More Affordable) Retirement by clicking here.