America's best places to retire on a budget
As millions watch their retirement funds dwindle in the economic downturn, cost of living becomes a prime concern.
Here's a look at some cities where your nest egg will take you the farthest.
A significant number of Americans will soon retire, but the economic downturn may be causing some to
rethink how they'll spend their golden years.
Topping the list of second-act must haves? A place with affordable housing, low cost of living and decent
job prospects.
That's what they'll find in Columbus, Ohio. This river city tops Forbes' list of cities where your nest egg
goes farthest, thanks to reasonably priced housing relative to income and a 4.5% inflation rate that allows
a buck to stretch a little farther than other quickly growing areas. With tens of thousands of Ohio State
Buckeyes, folks will enjoy the verve and energy that comes with a bustling college town.
Texas also welcomes retirees. Dallas and Houston ranked second and fourth, respectively.
A warm climate and growing economies make both of these spots great places to live up your
golden years. Each city can brag about latter-year employment possibilities for the enterprising
type; that's because 20% of those 65 and over collect a weekly paycheck.
Minneapolis ranked third. The South made a strong showing with No. 9 Atlanta and No. 10 Nashville.
What Was Behind the Numbers?
To find the best areas in the U.S. for a sustainable and exciting second act, Forbes ranked the 40 largest
metropolitan statistical areas and looked at cost-of-living factors like housing affordability and inflationary
pressures. All data was provided by the Bureau of Labor and Statistics and the U.S. Census.
With a growing number of retirees planning on continuing to work or starting a second career, Forbes also
factored in the number of people over 65 who are employed.
To get an idea about what retirees are thinking based on where they flock, Forbes looked at net migration
for persons over 65. To get a feel for how they fare in their community, Forbes looked at what percent of
people living below the poverty level are in their golden years.
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