Best Places to Retire (If You Can Afford To)!

Here’s a startling statistic, according to GoBankingRates…forty two percent, 42%, of people have $10,000 or less saved for retirement.

Based upon that statistic alone, it most definitely makes sense that retirees have their eyes wide open if they decide to move to a retirement friendly place when they’re no longer earning a regular monthly paycheck.

GoBankingRates recently released its third annual report of the best and worst place for retirees. Basing its rankings on home prices, retirement benefits, property tax bills, health care insurance and expenses and average Social Security checks. Fort Wayne, Indiana ranked #1 in this best places for retirees report. Let’s take a look at the top 10.

10. Richmond, VA 

– property tax rate – 1.101%

– average monthly health insurance cost – $296.

– one of best cities to own investment properties

9. Norfolk, VA

– property tax rate – 1.055%

– monthly health insurance cost – $296

– #7 city where one can live on less than $46.000/year

8. Wichita, KS

– property tax rate – 1.317%

– monthly health insurance cost – $361

7. Cleveland, OH

– property tax rate – 2.296% (7^th highest)

– monthly health insurance cost – $229 (the lowest)

– 10^th lowest average annual property tax bill because it

has lowest overall home value

6. Memphis, TN

– property tax rate p 1.513%

– monthly health insurance cost – $419

– 4^th lowest average property tax bill

– 3^rd lowest average list price

– lowest cost of living

– #2 city where nest egg lasts longest

5. Indianapolis, IN

– property tax rate – 1.06%

– monthly health insurance cost – $286

– 8^th lowest average list price

– low cost of living

4. Spokane, WA

-property tax rate – 1.191%

– monthly health insurance cost – $238 – 7^th lowest

– I of 7 states without income taxes

3. Toledo, OH

– property tax rate – 1.957%

– monthly health insurance cost – $229 – the lowest

– 2^nd lowest median home price

– 2^nd lowest cost of living

2. Baltimore, MY

– property tax rate – 1.518%

– monthly health insurance cost – $309

– $1M nest egg will last almost 20 years

1. Fort Wayne, IN

• property tax rate – 0.915% – lowest
• monthly health insurance cost – $286
• pay/benefit check lasts longest here