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All Contents © 2020The Kiplinger Washington Editors
By Sandra Block, Senior Editor
| November 6, 2014
As part of Kiplinger's annual best list, which rounds up the year's best financial products and services, we picked the five best destinations for retirees to spend their golden years.
Depending on your particular interest -- whether it's hitting the golf course, taking in nature, indulging in a glass of fine wine, reading a good book or investing -- we've found a city that suits you.
Take a look.
Data on living costs is from the Council for Community and Economic Research’s 2013 Cost of Living Index. Median home prices and populations for all U.S. cities are from the U.S. Census Bureau. International population information comes from the International Monetary Fund\'s World Economic Outlook Database.
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Cayo District, Belize, is off the beaten path, but it offers scenic rivers and waterfalls, huge cave systems, and Mayan ruins. Many retirees rely on solar power and enjoy a back-to-basics lifestyle. A couple can live comfortably on $1,400 to $1,700 a month, according to International Living, which ranks retiree destinations.
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Median home price: $184,400
Cost of living: 1.8% below U.S. avg. (U.S. avg. is 100)
Residents of Wyoming pay no state taxes on capital gains. Wyoming also has no estate or inheritance tax and levies some of the lowest property taxes in the U.S. Laramie, home to the University of Wyoming, has a lively cultural scene and is popular with hikers, skiers, snowmobilers and wildlife lovers.
Adam Jones, Ph.D. via Wikimedia Commons
Median home price: $100,200
William Faulkner wrote his most famous novels and stories in Oxford, Miss. His literary spirit lives on at Square Books, one of the most successful independent bookstores in the U.S. Retirees who want to study the classics (or any other subject) can take one free course each semester at the University of Mississippi.
Alex Proimos via Wikimedia Commons
Median home price: $249,700
Cost of living: 3.5% above U.S. avg.
Charlottesville, Va., is a short drive from some of the finest wineries in the state, which is the fifth-largest producer of wine in the U.S. Barboursville Vineyards, about 30 minutes away, offers wine tastings every day. Charlottesville is also home to a vibrant literary and music community. Residents 60 and older can take free noncredit classes at the University of Virginia.
Stuart Seeger via Wikimedia Commons
Median home price: $128,000
Cost of living: 6.8% below U.S. avg.
Golf zine ranks Austin, Texas, number one on its list of the best golf cities in the U.S., based on Austin’s 32 public courses and a median greens fee of $40. If you can tolerate the summer heat, you can play year-round. Austin also offers great food and a happening music scene. Retirees can take courses through the Osher Lifelong Learning Institute at the University of Texas.