With millions of Baby Boomers turning 65 each year, the massive generation is redefining retirement. Since half of boomers tell pollsters they expect to work at least part-time in retirement, the term is no longer synonymous with an end to paid employment. One thing retirement does mean to a large majority of boomers: the freedom to choose where they want to live, without regard to the location of a full-time job or the best school district.
Accordingly, Forbes presents its new list of The Best Places To Retire In 2018. In it, we highlight 25 places of varying size and character across the country, all of which we believe offer excellent retirement value—that is, a high quality of retirement living at an affordable price. (After all, while you may want to work part-time in retirement, your goal ultimately is to be able to live well without a regular paycheck.)
A majority of our choices are in warm or moderate climates; that’s because those retirees who move from one region to another tend to head for the sun. But we also recognize that many retirees opt for shorter distance moves or chose new regions based on where their kids reside. So this year’s roster includes entries in 18 states in all four continental time zones. If frigid winters don’t bother you, Fargo, N.D.. has made our best list for the eighth straight year. Other cold spots on this year’s list include Colorado Springs and
For the complete list, click here. Our list is in alphabetical order. In effect, every entry is tied for No. 1. So Wenatchee, Wash. is just as worthy as Asheville, N.C..
Nine of our picks were also on last year’s list. Others have been on previous best lists, or on Forbes’ specialty retirement lists, including the most scenic retirement places; the best places to live without owning a car; and the best spots for pursing your individual passions, from the arts and learning to fine dining to land or water sports. Absolute newcomers to any Forbes retirement list include Boone, N.C., Sun City, Ariz. and Vancouver, Wash.
There are many reasons why towns may appear on or disappear from our list, and there are close calls. Every year we look at more cities, and so the competition intensifies. This year, we looked at data on more than 600 cities drawn from every state, as well as the District of Columbia.
Since the focus of this best list is retirement value, the most significant factors we weigh involve money. Among them: median home prices, the cost of living compared with the national average and state taxes. These factors largely rule out expensive Northeast and West Coast cities, although the list does include Pittsburgh, Pa. and two cities in Washington State—Vancouver and Wenatchee. (Note: If you can handle sky high taxes and housing costs, New York City and San Francisco both appear on our specialty lists of places to pursue your passions in retirement and places to retire without a car.) Read more