The Best Place to Live in Retirement

Author: Andrew Meadows / 21 Mar 2018 / Retirement Trends & News

As you are planning your retirement, it is fun to think about moving somewhere new, maybe even a beach destination.

However, it is essential to consider a variety of factors that will help you identify the best fit for you and your new phase of life. The factors workers most frequently say are important to their decision-making are affordable cost of living (71%), proximity to family and friends (54%), good weather (49%), low crime rates (49%), access to health care (43%), and recreational activities (41%).

If you think you have found the location for you, you may want to vacation there during different times of the year or spend a month or more there at a time, just to make sure you get the full perspective of a resident versus a vacationer.

Some experts also recommend that you open a bank account, have a medical appointment, or conduct other kinds of personal business in your selected location to make sure you experience the aspects of the culture and understand what will be available to you once you move there.

Several organizations routinely analyze data to identify the best places to live in retirement. Their research can help you evaluate the things that are most important to you when deciding whether you want to relocate retirement.

Best places to retire in the U.S.A.

Forbes’ annual Best Places to Retire list takes into consideration things like access to medical care, crime rates, air quality, unemployment, cost of living, and factors that can make for a fulfilling retirement, such as opportunities for volunteering and exercise. According to Forbes’ analysis, and its admitted preference for college towns, here are the 25 best places to retire in 2017 (listed alphabetically).

Athens, Georgia
Bella Vista, Arkansas
Bethlehem, Pennsylvania
Boise, Idaho
Brevard, North Carolina
Clemson, South Carolina
Colorado Springs, Colorado
Fargo North Dakota
Grand Prairie, Texas
Green Valley, Arizona
Harrisonburg, Virginia
Iowa City, Iowa
Jefferson City, Missouri
Lawrence, Kansas
Lewiston, Maine
Lincoln, Nebraska
Maryville, Tennessee
Ocean Pines, Maryland
Peoria, Arizona
Port Charlotte, Florida
San Marcos, Texas
Savannah, Georgia
Summerville, South Carolina
The Villages, Florida
Wenatchee, Washington

Best cities to retire

If big cities are more your style, you might want to look at the Milken Institute’s Best Cities For Successful Aging report.

This study considers nine factors that make the “best” city for retirees: general livability, healthcare, wellness, financial security, education, transportation and convenience, employment opportunities, living arrangements and community engagement.

It has also found that cities with colleges rank higher on quality-of-life factors that affect older adults, including economic strength and recreation. Here are Milken’s top 10 big cities for aging successfully.3

Provo-Orem, Utah
Madison, Wisconsin
Durham-Chapel Hill, North Carolina
Salt Lake City, Utah
Des Moines-West Des Moines, Iowa
Austin-Round Rock, Texas
Omaha-Council Bluffs, Nebraska-Iowa
Jackson, Mississippi
Boston-Cambridge-Newton, Massachusetts-New Hampshire
San Francisco-Oakland-Hayward, California

If you are more comfortable in a smaller setting, those have been ranked too. The top 10 best small cities tend to have moderate living costs, quality healthcare, educational facilities, and a community feel.3

Iowa City, Iowa
Manhattan, Kansas
Ames, Iowa
Columbia, Missouri
Sioux Falls, South Dakota
Ann Arbor, Michigan
Ithaca, New York
Lawrence, Kansas
Logan, Utah-Idaho
Fairbanks, Alaska

How livable is your hometown?

Ever wondered about how your hometown ranks on the list of great places to live? AARP’s Livability Index will tell you. Follow this link and type in your address or town name to find out how livable your community is.

Best warm places to retire

Even with all the conveniences that cities have to offer, many people dream of living by the beach or in a warmer climate. AARP researchers found ten great places to retire – all of which boast at least 250 days of sunshine each year. Other factors considered include cost of living, the range of activities for retirees, and a low crime rate.4

Asheville, North Carolina
Grand Junction, Colorado
Sarasota, Florida
San Diego, California
Las Cruces, New Mexico
San Luis Obispo, California
St. George, Utah
Santa Fe, New Mexico
Bend, Oregon
Fort Worth, Texas

Best places in the world to retire

If you are thinking more globally, International Living’s Annual Global Retirement Index measures factors that are important to those who are considering a move to another country, including ease of buying property, ease of attaining a visa, cost of living, entertainment, healthcare, climate, and governance. Here are the top 10 international locations for retirees in 2018.

Costa Rica
Mexico
Panama
Ecuador
Malaysia
Columbia
Portugal
Nicaragua
Spain
Peru

Learn more

Despite some locations showing up on multiple lists (Lawrence, Kansas, and Iowa City, Iowa), researchers have identified places all over the U.S. and the world as great places for fulfilling the needs and desires of retirees. Wherever you decide to live, you will need retirement income to support your lifestyle.

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Resources for best places to retire

Transamerica Center for Retirement Studies: Wishful Thinking or Within Reach? Three Generations Prepare for “Retirement,” December 2017
Milken Institute Center for the Future of Aging: Best Cities for Successful Aging
AARP: 10 Great Sunny Places to Retire
International Living: The World’s Best Places to Retire in 2018