A few months ago, a study was released that ranked the 50 U.S. States in which to best spend your golden years. But if you’re overwhelmed by the number of options that the list offers, you might want to turn your attention to a little known-city in Indiana called Fort Wayne.
The finance website GO Banking recently assessed the best and worst cities in the U.S. in which to retire, based on property taxes, health insurance costs, and living expenses.
They found that, in spite of the good weather, California may be the worst place in the country for retirees, since the high cost of living make it a tough market for those looking to really enjoy their golden years.
Fort Wayne, on the other hand, had the lowest property taxes, coming out to an average of $947 per year, which is almost a quarter of the amount the average person in San Francisco spends on their apartment.
Fort Wayne also got top marks in the cost-of-living and healthcare department in Sterling’s Best Places index, which also noted that the median cost of a house there is only $120,500, which is significantly less than the $216,200 national average.
The study’s conclusions are based on the sensible assumption that even if you’ve managed to save up a bit of cash, you’re more likely to enjoy your retirement if you downsize your housing and minimize your spending. But, of course, money isn’t the only factor to consider when assessing where to relocate. Honolulu ranked as the fifth worst place to retire on the list, mostly because it’s so expensive. However, the city has previously ranked very high for its quality of life, thanks to its low crime levels, cleanliness, array of fun activities, and excellent climate.
It’s also worth noting that it’s not absolutely necessary to move to a city, especially if you’re looking for a slower pace of life. Recent studies have shown that people over the age of 45 should strongly consider retiring to greener pastures if they want to stay sharp well into old age, so getting a little cottage that the grandchildren can spend their summers in is definitely a good option.
And if you’re looking for a move that will boost your longevity, however, check out this ranking of the U.S. States Where People Live the Longest.
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