5 Affordable Cities for Retirement

One of the many benefits about retiring is that you can retire to anywhere. Since you don’t have to go to work, what is keeping you at your present location? Sure, friends and family are important but they can come visit, right? The goal should be to downsize your living and your expenses so you can enjoy a high quality of life. Want to travel more? You can. Want to take up a new hobby? You’ve got plenty of time. Want to read all the books you’ve been meaning to read? Load up the Kindle. This is your retirement and anything goes. That includes where to live. Here are 5 affordable cities for retirement.

1. Albuquerque, New Mexico

Although Bugs Bunny was constantly making a wrong turn at Albuquerque, you’ll find that this South Western enclave is very friendly to retirees. That starts with low housing prices. You can score a decent adobe abode for a $1,350 monthly mortgage payment. Rents hover around $800 for a very nice apartment. Plus, this is a senior-centric town with discounts everywhere you turn. ¬†As an added bonus, you get great weather all year round.

2. Decatur, Alabama

Welcome to the land of low taxes and low cost of living. Two key components to help make your retirement savings stretch. Decatur has its own opera and a wonderful Victorian homes district. It’s also just a hop, skip and a train ride away from Memphis, Nashville and Atlanta. Whoop it up at those cities but find “serenity now” in Decatur.

3. Pittsburgh, Pennsylvania

As a town, Pittsburgh has a lot going on. They’ve got a symphony, a zoo and the Steelers. It’s also nice that the University Of Pittsburgh Medical Center is ranked number 10 as best hospital for senior citizens. Housing costs are very affordable. There is a lot of revitalization going on in this former steel town and most of that makeover is being geared towards retirees. That’s very attractive.

4. Malaga, Spain

Remember, just because you’re retiring doesn’t mean you have to stick around this country. There are plenty of great spots around the globe that would make for an awesome retirement destination. Case in point: Malaga. This burg is considered the gateway to Costa del Sol, which is one of the most popular tourist spots in all of Spain. That doesn’t mean this is a tourist town but a town that is friendly to outsiders. Spain’s economy has taken a beating but that is good news for someone looking to buy a nice house or rent an apartment. You’re not far from the beach and there are some amazing restaurants and cultural attractions. Just be sure to pick up your Rosetta Stone program before you go!

5. Coronado, Panama

Speaking of speaking Spanish, Coronado is 100% retiree friendly. The official currency is the good old U.S. dollar and this beach town offers a lot of discounts for retiring Americans for everything from utility bills to restaurant deals.

Where are you planning to retire?