Yes, it definitely does. And it doesn’t just matter where you start your retirement, but also where you will live for the rest of it.
Simply said, there are a couple of factors that have a strong influence on your personal and economical life regardless of your age. From housing to health care, transportation, weather, travelling to your loved ones and community support, every aspect matters.. and guess what! Every one of them is determined by the place where you live.
Every person hopes to have a long, happy retirement and, as it has been proven many times, your location should meet as many of your needs as possible. Right now, the concept of retirement is completely different than it was decades ago, which increases our chances of happiness.
Do you want a vacation home for retirement? No problem. Would you like to engage in new hobbies? Go to the state that gives you the opportunity! It’s all possible now.
Finding the best place to live
Like all things, determining which is the best place to spend retirement is easier said than done. The Social Security Administration predicts Medicare insolvency by 2030 and the Congressional Budget Office predicts exhaustion of Social Security benefits by 2032, at present funding levels.
Given this reality, the ideal scenario is to find housing that is affordable and it’s located in a low cost of living area. Of course, you shouldn’t rule out the possibility of moving to a retirement community – it all depends on your needs.
The least expensive cities to live
Judging by 2017 statistics, some of the cheapest U.S. states you can move in are Kentucky, Kansas, Idaho and Arkansas. Click here to find out which are the top 10 cheapest U.S. cities – and the right one for you.