Monday, June 15, 2015

The Best Place in the U.S. to Retire isn't Florida ... What is it?

Hikers at the top of Piestewa Peak in Phoenix, Ariz. 
Phoenix was named the No.1 retirement city.
Arizona cities showed up three times in the top 10 due to unparalleled weather and low property taxes, says Chris Kahn, research and statistics analyst at Bankrate.
"It's just a great place for a low-maintenance, outdoor type of lifestyle," he says. Plus, "your dollar is going to stretch further in Arizona."
Bankrate ranked the cities based on cost of living, weather, crime rate, health care quality, tax rates, walkability and a measure of well-being based on surveys of seniors already in the areas. Retirees, in particular, need to prioritize cost of living because they're relying on a fixed income, Kahn says.
However, proximity to family may often trump all other factors when it comes to deciding where to live in retirement, says Tom Warschauer, a finance professor and director of the personal financial planning program at San Diego State University.
New York City was ranked WORST!
"If the financial factors were the dominant factors, you would find everybody moving to the least costly alternative," he says. "And that's not happening."
He recommends retirees also take into account whether they want to live in a community with people their own age or be in a neighborhood with a range of age groups.
Read the rest of the story HERE and view a related video below:

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