Some people seek to downsize in their retirement. With children off on their own, many choose smaller homes or condos as well as areas of the country where retirement costs are lower and benefits are high.
Here are five of the best places to downsize in retirement.
1. Arlington, Texas — About 20 minutes from Dallas,
Arlington tops Active Adult Living’s list of places to downsize in retirement.
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Active Adult Living noted that retirement costs there are 3.6 percent less than the entire state of Texas and 12.4 percent less than a broader national average.
2. Des Moines, Iowa — Des Moines ranked No. 2 on Active Adult Living's list. While Des Moines offers all of the benefits of living in a city — and earns a spotlight each presidential election cycle for news coverage of the state's famed political caucuses — its cost for retirees is 15.2 percent less than the state average and more than 19 percent below the national average.
3. Tucson, Arizona — Tucson is No. 1 on a
list of cities to retire on the cheap compiled by Caring.com. Its climate is superb and it's a small city with a health-conscious vibe for those looking to relax and also remain fit. Home to the University of Arizona, the city also offers culture and plenty of new retirees as residents.
"More than 30 percent of the population is over 60 and continues to grow, making seniors a vocal and active population group; there's also a well-appointed senior center offering a wealth of services. The area has no fewer than eight hospitals and major medical centers," the Caring.com said.
4. Dover, Delaware — Ranked No. 2 by Caring.com, Dover is livable and filled with plenty of big-city benefits, even as its population is just 32,000. It's also walkable and just a train ride from Washington, D.C. to the south and New York City to the North, for those retirees seeking a deeper cultural fix while living in a more modest area.
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5. Lawrence, Kansas — A college town with a low cost of living, Lawrence offers plenty of fiscal benefits for retirees looking for a down-sized life. Cost of living there is 4.5 percent below the state average and 11.2 percent below the national average, Active Adult Living noted.
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