Best Places to Retire

Retire Now: Low Cost of Living Options

Baby Boomers – Are You Looking to Retire?

Are you finding that they have not saved enough for retirement? Whether you've lost money in the market or just didn’t start your retirement fund in time, you are faced with the reality that you may not be able to retire when you want. However, there is an alternative to working into your 70s. It’s simple, if you are willing to relocate. Moving to a location with a much lower cost of living can help stretch your retirement savings. You may even be able to maintain or improve your quality of life.

Of course, a retirement income of $40,000 per year certainly won't go very far in Honolulu or Miami, but there are other options. Places where $40,000 can fund a comfortable retirement lifestyle. If you're willing to relocate to a place with a lower cost of living and affordable housing, your retirement income could give you access to interesting activities and top-notch medical care. Plus you could retire sooner.

Here are a few places to consider:

Albuquerque, New Mexico

People are drawn to the area when visiting the Kirtland Air Force Base and national laboratories. Retirees benefit from Albuquerque's many amenities and low housing prices. The median housing cost for people age 60 and older was $1,150 monthly for those with a mortgage, $358 for homeowners without a mortgage, and $657 for renters. There are also plenty of low-cost ways to get around town, even if you can't or no longer want to drive. People age 62 and older can ride the bus for just 35 cents.

Looking for Senior Housing? Consider these Senior Apartments/Independent Living Communities:

Bear Canyon Estates

4440 Morris Street NE • Albuquerque, NM 87111 • (877) 253-7579

Situated on beautiful grounds in the Northeast Heights of Albuquerque, you’ll love the splendor of the rugged landscape, the coziness of our facilities and the nearby city’s convenience. We’re just minutes from shopping, healthcare, dining and many wonderful regional attractions. Spend your days exploring destinations like Historic Old Town, the Sandia Mountains, the Cibola National Forest and the Rio Grande Zoo. Our warm and professional live-in managers are devoted to making your life with us truly special, and you’ll wish you’d come home to Bear Canyon Estates sooner. Retire with Monthly Rates Starting at: $2,049

Brookdale Place at Valencia

300 Valencia Drive SE • Albuquerque, NM 87108 • (888) 785-4656

Brookdale Place at Valencia provides a full range of choices for today’s seniors. Choosing a senior living community represents a lifestyle choice and we understand that our residents are choosing much more than a comfortable living environment to call home. Our Brookdale community delivers Inspired Independent Living, with the promise of Exceptional Experiences Everyday. Retire with Monthly Rates Starting at: $2,280

Palmilla Senior Living

10301 Golf Course Road NW • Albuquerque, NM 87114 • (866) 598-5380

The beauty of living at Palmilla Senior Living is that you never have to do it alone. You've spent decades perfecting the art of living, now is your chance to enjoy it. Palmilla Senior Living features Independent Living, Assisted Living, Alzheimer's and Memory Care options. At Palmilla Senior Living we've created a unique community designed to help you make the most of your vitality and independence. Retire with Monthly Rates Starting at: $1, 930

Augusta, Georgia

Best known for its golf courses, this city on the Savannah River is also home to the Medical College of Georgia, and a wide variety of art galleries and museums. Housing costs for residents age 60 and older are a median of just $626 for renters, $1,064 for homeowners with a mortgage, and $353 for seniors who have paid off their homes. Seniors 65 & older only pay 60¢ per ride for Augusta public transit.

Looking for Senior Housing? Consider this Independent Living Community:

Washington Commons

100 Washington Commons Drive • Evans, GA 30809 • (888) 902-6649

Tucked away in a quiet corner of Evans, Washington Commons offers you a taste of quiet serenity in the heart of Georgia. Residents appreciate the convenience of being close to world-class healthcare, shopping, golfing and all the rich history and heritage of the South. Spend your days exploring sites like the Savannah River Canal, Fort Discovery and the James Brown Memorial and Arena. You’ll feel right at home here with our live-in managers going out of their way to make you feel like family. You’ll wish you joined our family sooner. Retire with Monthly rates starting at: $1,891

Columbia, South Carolina

South Carolina's state capital offers the amenities of big-city life, but it also has a low cost of living and plenty of arts and outdoor activities. Monthly housing costs range from a median of $1,107 per month for homeowners age 60 and older who have a mortgage to $712 monthly for renters. Retirees who have paid off their mortgages pay a median of just $350 monthly for other housing costs. Bus fares for people age 65 and older are 75 cents. South Carolina residents (age 60+ ) can qualify for free tuition to the University of South Carolina if they are not working full-time.

Looking for Senior Housing? Consider these Senior Apartments/Independent Living Communities:

Forest Pines

1720 Devonshire Drive • Columbia, SC 29204 • (877) 569-1796

Situated just outside of Columbia’s downtown, you’ll enjoy our beautiful grounds and facilities while enjoying all of the convenience and culture of the state’s capitol. We’re just minutes away from shopping, three state-of-the-art hospitals and wonderful destinations to explore. Residents spend their days at the Riverbank Zoo, Lake Murray or sightseeing at the historic state’s capitol. Our friendly and caring live-in managers are devoted to making your time with us special, and you’ll love coming home to Forest Pines. Retire with Monthly Rates starting at: $1,908

Deepwood Estates

203 Old Chapin Road • Lexington, SC 29072 • (888) 902-6527

Just minutes from the scenic shores of Lake Murray, you’ll fall in love with our comfortable facilities, beautiful grounds and stunning views. Residents appreciate the convenience of being so close to the heart of it all, with shopping, healthcare, restaurants and entertainment just minutes away. You’ll want to explore destinations like the Lexington Museum, Congaree National Park and the Riverbank Zoo. Our warm and caring live-in managers will make you feel like a valued member of our family, and you’ll love coming home to us. Retire with Monthly Rates Starting at: $1,988

Knoxville, Tennessee

The typical resident age 60 or older with a mortgage in Knoxville pays a median of $1,060 per month. For those without a mortgage, the median housing cost declines to just $347 monthly. And retiree renters pay a median of $625 per month. Knoxville has a rich arts and music community. There are plenty of outdoor attractions, including 65 miles of greenway trails, more than 80 parks and only about an hour's drive to the Great Smoky Mountains National Park. Knoxville is home to the University of Tennessee and the headquarters of Regal Entertainment Group, where senior citizens qualify for a small discount on movie tickets and AARP members can get deals on soft drink and popcorn combos.

Looking for Senior Housing? Consider this Independent Living Community:

Atria Weston Place

2900 Lake Boulevard • Knoxville, TN 37909 • (888) 525-2661

At Atria Weston Place, you’ll find an elegant lifestyle with all the everyday comforts of home. Enjoy an array of special amenities like an ice cream parlor, community garden, well-stocked library and other inviting common areas. Atria Weston Place is located near many fine restaurants, the West Town Mall and medical facilities. Retire with Monthly rates starting at: $2,850

Little Rock, Arkansas

Named for a rock formation on the Arkansas River, this state capital is home to the University of Arkansas at Little Rock and the University of Arkansas for Medical Sciences. Most homeowners age 60 and older pay reasonable housing costs, including a median of $1,059 if they have a mortgage and $360 monthly once the mortgage is paid off. Retirees who rent pay a median of $656 monthly. Senior citizens above a certain age can get discount admission to the Little Rock Zoo, Arkansas Museum of Discovery, and the William J. Clinton Presidential Library.

Looking for Senior Housing? Consider this Independent Living Community:

Andover Place

2601 Andover Court • Little Rock, AR 72227 • (888) 804-5193

Situated on beautiful grounds in a quiet corner of Little Rock, you’ll love the graceful elegance of our facilities, the warmth of our staff, and the convenience of living just minutes from all the things that make life great. We’re close to shopping, healthcare, dining and wonderful local attractions. Spend your days visiting destinations like the Arkansas Arts Center, Pinnacle Mountain State Park, Oaklawn Racetrack and the Clinton Presidential Center. We’re more than a community at Andover Place; we’re a family and we look forward to meeting you. Retire with Monthly rates starting at: $1,975

 

If you are interested in any of these areas, you can also call (888) WE-ASSIST.

Our Information Specialists can help you find other senior housing options in these areas and others around the nation. You can also search for senior housing at AlternativesforSeniors.com

 

Area housing information as reported in U.S. News & World Report article “Best Places to Retire for Under $40,000”. Monthly costs and rates are subject to change without notice. Check with the locations for current rates.