Where To Retire During A Recession

If your retirement is lurking just around the corner, you may be worried about how you’re going to pay for it. With an economy on the downturn, it’s important to choose a location that will be a good investment as well as one that will meet your medical, safety, and cost-of-living needs, to name a few. To help you with your search, Money Magazine suggest 7 places to retire during an economic downturn.

Number one on the list is Gainesville, Florida, boasting a thriving economy and exciting college town life. In fact, Gainesville ranked as the Number 1 place to live in Sperling’s Best Places “2007 Cities Ranked and Rated.” Furthermore, with the city’s average cost of living and zero state income tax, Gainesville ranks high up on the list of best retirement cities.

Ithaca, New York comes in at number two on Money’s list, with stunning landscapes and a host of urban cultural and entertainment offerings. In addition to a low unemployment rate and stable economy, Ithaca’s median home price of $149,000 is affordable for most residents and relocating retirees.

Orlando, Florida claims third place, offering sunny skies and a comfortably low cost of living. Its Florida location affords it no state income tax, a big positive for retirees, and median home prices around $260,000. In addition, the city has great health care, including Florida Hospital, a nonprofit hospital that ranks as one of the best in the country.

Following these three retirement cities are Pittsburgh, Pennsylvania, Portland, Oregon, San Antonio, Texas, and finally Tucson, Arizona. When it comes down to it, your retirement location is your own choice, but it never hurts to listen to some unbiased advice.

Tags: Retirement