As costs rise and incomes dwindle, many baby boomers are looking for creative places to spend their retirement years. We often desire a reasonable cost of living, pleasant weather, and plentiful opportunities for spending leisure time. Do places offering all this even exist?
They do! Several options for living well in retirement are available. Some are within the U.S., but there are even more prospects if you broaden your horizons and consider the international possibilities. Here are a few of our favorites.
Indianapolis, Indiana This may not be a city that you would have thought of, but Indianapolis has a lot to offer with many big city amenities at small town prices. With a cost of living that is well below the national average, you can comfortably live in Indy and enjoy professional sports, museums, shopping, and an exciting nightlife. Indianapolis is far enough south that it experiences winter but not many of the extreme conditions of its northern neighbors.
For those who desire the southern climate but like the idea of the low cost of living, Decatur may be just the place for you. A riverside community, Decatur offers some of the best housing prices in the country along with panoramic views.
Bella Vista, Arkansas
The name says it all. While Arkansas may not have the popular allure of some other southern states, it enjoys much of the same weather and great scenery without the spring break crowds. With a low cost of living and growing baby boomer population, Bella Vista is a not so hidden gem for U.S. retirees. Due to the great weather you can enjoy the many outdoor activities that are available year round.
A list of retirement living possibilities wouldn’t be complete without mentioning Florida, that sunny haven of so many retirees. Jacksonville is a sprawling metropolitan area that offers many unique entertainment options and is near the beach. You get warm Florida weather without quite the same extreme heat that is experienced in Miami or the Keys. The location on the coast as the shoreline curves inward keeps Jacksonville largely protected from hurricanes as well.
Belize has become a haven for retirees looking for a cheap tropical refuge for their retirement years. With an extremely low cost of living, tropical setting, and large American transplant population; Belize is a great possibility that enables most people to live comfortably on just over $1,000 per month.
Like Belize, Nicaragua has begun to cater to the retiree population with specially established communities focused on American expats. Living well for $1,500 per month, you can enjoy the tropical climate, amazing landscape that includes lakes, rainforests, and volcanoes, and reputable healthcare facilities.
Thinking of travelling to the opposite side of the globe? A tropical paradise with all the modern amenities you require may be more possible than you think. In Ipoh, Malaysia, Americans are accommodated by English speaking residents and all the modern conveniences you would enjoy in the U.S. – all on less than $1,000 each month. While there are plenty of other locations to consider, we’ve listed just a few that economically conscious baby boomers might consider after retirement. We hope this gives you a starting point. Have fun planning.
Written by Samantha Wilcoxson