Personal Finance
With Retirement Around The Corner, Which Year Round Sunny Cities Are A Good Fit?
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Red (2010) and Red 2 (2013) were a pair of action comedies starring Bruce Wilis, Morgan Freeman, Helen Mirren and John Malkovich as a team of former CIA operatives who are officially retired. R.E.D. was the code acronym for “Retired – Extremely Dangerous”. The underlying theme of the joke was that retirement was boring and unchallenging for the protagonists, who relished getting back into action.
This theme likely resonates with many Baby Boomers who are winding down their working careers and are nearing retirement age. While a lot of them look forward to leaving the daily grind behind, there are still plenty of years left to enjoy life, and they don’t look forward to spending the bulk of it napping on a beach. A mid to large city with cultural events, solid infrastructure, good dining and activities with lots to do is still important for a majority who are in their golden years. A year round warm weather climate is a plus, especially for health reasons later on.
With its wide geographic expanse, the United States offers a number of retirement destinations that might fit the bill, in terms of location, weather, affordability and activities. However, for the more adventurous, there are international destinations that may offer all of those as well as a foreign exoticism that might appeal to fans of the Red films.
A Reddit poster and her husband were soliciting suggestions for retirement locations. She is interested in locales apart from the Denver and Sacramento areas that met the following criteria:
Luckily for her, there are a range of both domestic and international cities that fit the bill.
Retirees often choose to relocate to lower cost of living cities with warmer climates where their golden years can be spent in comfort.
There are a number of US cities with year round warm weather and are relatively affordable for retirees.
For those retirees who are intrepid enough to look abroad, there are a wide variety of warm weather international locales where retirees with modest nest eggs can live out their golden years in luxury.
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As Chuck Berry sang in his famous song, “Living In The USA”:
“I’m so glad I’m living in the USA;
Anything you want, they’ve got it right here in the USA.”
American retirees looking to potentially relocate within the US have a multitude of cities from which to choose that also have a range of cost of living levels. As the poster doesn’t define “affordable”, her citing of Sacramento ($73,500 average cost of living) and Denver ($84,290 average cost of living) can serve as a benchmark. Below are some selections for consideration in descending cost of living price order, bearing in mind that the national cost of living average to live well is roughly $57,500 as of late 2024.
Florida has additional appeal to retirees, due to housing some of the largest retirement communities in the US. Senior-focused amenities are abundant, and Florida’s lack of state-level income, estate and inheritance taxes are an added benefit for retirees on fixed incomes.
Property taxes in Texas are somewhat higher than in the past, although a recent Texas poll indicates that Governor Abbott is considering abolishing Texas property taxes, due to the state’s huge influx of ex-Californians who are fed up with the policies of Governor Newsom that have been adding to the economy.
For retirees with a taste for adventure, a medium-sized nest egg can equate to a fortune in some countries that can offer much of the same amenities as in the US, albeit at a lower price. Additionally, the strength of the US dollar is such that a modest retirement budget can afford a vastly more luxurious lifestyle in many of these exotic locales.
Greece provides 7-year-long visas for anyone who can provide sufficient financial evidence of their ability to pay their own way. One can apply for Greek citizenship if they wish to remain past 7 years.
The average cost of living in Rhodes is $2,600 per month, or $31,200 annually.
With its wonderfully unique and diverse cuisine, magnificent volcanic and jungle landscapes, and cultural offerings, Ubud is a city that has attracted its own expat community. Retirees that meet Indonesia’s expat retiree criteria can enjoy a luxury lifestyle on a modest budget of $1,300 – $2,000 per month, or $15,600 – $24,000 annually, which includes at least one mandatory Indonesian household staff worker.
Indonesia criteria for expat retirees include:
These are just a few of the options available for retirees seeking year-round, non-desert, warm-weather climates on an affordable budget. The rest is up to what resonates with each person individually to determine their ultimate destination.
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