Retirement planning is an essential part of life planning. One of the most crucial, yet overlooked, considerations is where you want to be when you retire. Florida often carries the stereotype of being the retirement hub of the country but there are many cities, specifically on the east coast of the United States, that is financially smart to retire in and also have plenty to do!
Grand Rapids, Michigan
Grand Rapids is a city that has been thriving due to its push to support the arts. From the Grand Rapids Art Museum to the Frederik Meijer Gardens and Sculpture Park, the is an amazing location for Retirees who love are. The median housing cost in 2017 was $1,126 per month for homeowners with a mortgage. The renters face about an average cost of $726 per month. It also has reputable medical facilities within the city.
In 2017, the annual amount of expenditures for residences ranges around $36k. On an annual basis, citizens of Cleveland spent $4,448 on housing alone with health ranging around $6,474 and groceries hitting around $3,821. The city of Cleveland has been characterized as when “grit meets sophistication”. Shaker Heights and Chagrin Falls are both neighborhoods that are quite a retirement friendly as well.
For those who want a bit warmer weather for retirement, Tennessee is an excellent state. A bit cheaper than Cleveland, Memphis averaged with citizens around $33,860 for annual expenditures. In 2017, the average annual expenses on housing were $6,354 with health expenses coming in around $5,694 per year.
Daytona Beach, Florida
Of course, Florida’s weather is what draws many to retire in the southern, east coast state. The median home value of $173,000 makes retirement on the shore a reality for retirees on a modest income who made smart retirement decisions while planning. Many regarded apartments can be under just $1,000 per month in the right location. Florida is a retirement hub and rightfully so. Its culture caters to the retirement crowd both in activities to financial flexibility as well.
There are many other wonderful cities to retire in but these a just a few of the affordable places that are popular in 2018.