The Best Places For Retirement - Part 2

2006-08-29

Back to Part 1 of The Best Places For Retirement

Earthquakes, landslides, riots, and forest fires are just a few of the problems one can expect to run into in California. In addition to this, the state is heavily populated, and the cost of living is high compared to the other states and cities that I have mentioned in this article. If you choose to live in states such as Florida, Louisiana, or Mississippi, you will have to deal with hurricanes. Before you pick a place for you retirement, it is important to look at the weather hazards for the region. While cities in the mid west may not have earthquakes, they could be hit with floods or tornadoes.

Environmental concerns should be an important issue to anyone that is looking to retire. Check the region near the city you are looking at to make sure they are not near any nuclear reactors. There are a large number of nuclear reactors around the US, and you will want to avoid moving near them. Make sure the air is fresh. Places with excessive amounts of smog should be avoided, especially if you have allergies. A number of good retirement states are Wyoming, North Dakota, Montana, and South Dakota. A large segment of the young people in these states are migrating to large cities to find jobs, and the governments are giving tax incentives for Americans who choose to move there.

While these states may not have a lot of job opportunities for young people, they are perfect for people who are ready to retire. They have a low cost of living compared to other states, and you will also have plenty of elbow room. If you are looking for a warm place with a low cost of living, as of 2005, Arkansas is the cheapest state in the US. While it is next to impossible to find an apartment in California for $500 per month, apartments in Arkansas may charge as little as $400 a month. When you are looking for a place to retire, it is important to look at how much wealth your have build up.

Don't listen to so called "finance experts" on tv who say that $150,000 to $1 million dollars is not enough for retirement. They are only right when they are referring to New York City or Los Angeles. A home can be purchased in Arkansas for under $70,000, and $150,000 can allow you to retire if you know how to manage your money.

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