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Best Places to Live in Retirement

Many retirees believe the best place to live in retirement is right in their own home. Let’s explore some of the “best places” where that home might be located and what it might look like.


It’s worth noting that the retirement experience varies widely. Some people have the money to relocate or buy a second home. Some people have plenty of retirement funds but choose to remain where they are. Come talk to us if you’d like help in creating a retirement income plan to assist you with figuring out what you may be able to afford.


According to a study by U.S. News & World Report on the top states for people 65 and older, Colorado is the best place in America to spend your retirement years. The study evaluated which states are most effective at helping retirees meet their health care, financial and community involvement needs.1


If you have a specific retirement haven in mind, be sure to do some research about it. For health care services, for example, U.S. News publishes a guide to the best hospitals with a searchable database. To learn about a locale’s cost of living, consider the Council for Community and Economic Research’s Cost of Living Index. To get a feel for an area’s year-round climate, check out the interactive climate data tools at the NOAA National Centers for Environmental Information.2


Relocating after retirement can be difficult for some people, especially those with close friends and family ties to an area. If this is a concern for you, consider a short-distance move. Perhaps move to a nearby town that has less hustle and bustle, and more outdoor and cultural activities. If your motivation is to downsize, you may even be able to do that in your own community. In this case, you can get rid of the big house and accompanying maintenance chores and expenses, but stay close to family and friends.


Consider where you might be able to access personal help as you age, and the best way to procure that help. For example, you could relocate to a neighborhood near a nursing or medical school, and hire a student to help you if needed. If you have an extra bedroom, consider offering free or low-cost accommodations in exchange for personal aid. Even when we don’t need help with health care needs, as we age it never hurts to have someone we know and trust around to help maintain the house and lawn, drive or run errands, or just check in for conversation.


Think long term – not what your health is like right now, but what it could be like 20 years from now. In other words, having stairs may increase your chances of a fall. They also will be difficult to use if mobility is an issue. For some, the solution may be to buy a single-story home with the idea of avoiding those potential problems.


Another option to consider may be to sell your home and rent a smaller home. This could allow a retiree to pocket equity from the home sale and keep expenses low enough for current income sources. Renting also may eliminate the risk of a large maintenance cost or unanticipated repair.3


These are all long-term considerations people should think about with regard to the “best place to live in retirement.”


Content prepared by Kara Stefan Communications.


1 U.S. News & World Report. “Best States: Aging in America Ranking.” Accessed Nov. 21, 2017.

2 Melissa Phipps. The Balance. Sept. 4, 2017. “Find out Where You Should Retire. Accessed Oct. 31, 2017.

3 Eric Petroff. Investopedia. March 17, 2017. “Retirement Living: Renting Vs. Home Ownership.” Accessed Nov. 29, 2017.



We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic retirement income strategies and should not be construed as financial advice.

The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.