When you think about where Americans move once they’ve retired, you probably think of sunny cities in states like Florida or Arizona. However, according to one recent analysis by SmartAsset, there are some less obvious spots that should be added to the list of places that retirees should consider moving to.
Cities like Plano, Pittsburgh, Lexington, Louisville, and Fort Wayne were included among the top 10 best places to retire – along with sun-drenched cities like St. Petersburg, Mesa, Chandler, and Las Vegas. How did cities in Pennsylvania, Kentucky, and Indiana make a list of retirement destinations? The main reason is because of their affordability.
The analysis looked at things like taxes, health insurance rates, and housing to determine where costs were low so you could stretch your retirement savings the furthest. For example, the number one city named was Henderson, Nevada, where the annual cost of living is just $20,672 and social security and pensions aren’t taxed.