Forbes: Atlanta one of nation’s best places to retire

Retirees can get more bang for their retirement buck in Atlanta, Forbes magazine says.

The metropolitan area ranks ninth among top U.S. cities where affordable housing, low cost of living and decent job prospects loom large for retirees. Columbus, Ohio, ranked No. 1, followed by Dallas, Minneapolis, Houston and Salt Lake City.

Indianapolis, Denver, St. Louis and Nashville rounded out the top 10.

The publication considered the number of people over age 65 who are currently employed, net migration for people over 65 and what percentage of people in their golden years live below the poverty level. Other variables included the number of doctors per capita and the number of citizens using Medicare benefits.

Since seniors are expected to live longer with smaller nest eggs, Forbes ranked the cities based on their ability to provide a sustainable and enjoyable lifestyle, using data provided by the Bureau of Labor and Statistics and the U.S. Census.

Metro Atlanta’s cost of living, climate and Hartsfield-Jackson International Airport always have drawn people, said Kathryn Lawler, consultant with the Atlanta Regional Commission. “Combined with having some grandkids here makes it very desirable,” she said.

The city’s older adult population grew by more than 30 percent between 2000 and 2005. By 2030, the Atlanta region will experience a 127 percent increase in the number of people 55 and over, according to an ARC study.

To facilitate this population surge, the ARC launched a Lifelong Communities Initiative to promote housing and transportation options, encourage healthy lifestyles and expand information and access to services.

“This is not a one-size-fits-all older adult population,” said Lawler, who cited health care and transportation as critical challenges for the city. “Aging is really complicated.”

Despite the transportation shortcomings, Atlanta boasts a “phenomenal” selection of retirement communities, said Adrienne Simpson, president of Smooth Mooove Senior Relocation Services, which has experienced a 30 percent to 50 percent increase in business each of its six years in operation. The Stone Mountain company averages about 50 moves a month.

More than 300 senior living communities exist, with purchase prices ranging from $150,000 to $500,000, she said.

“Georgia is very quickly becoming Florida,” said Simpson, noting the Peach State’s affordable housing and cost of living compared to the Sunshine State. “Communities are building more to suit the needs of seniors, so once they get there they can stay there.”

Retirees who want to maximize their golden years should plan ahead on where they retire and think through other lifestyle choices, said Barbara Goodstein of AXA Equitable.

AXA Equitable recently launched a Web site, www.myretirementshop.com, to provide resources and information about retirement planning. The site provides tools and calculators, job banks and self-improvement classes along with information about health and fitness, travel, hobbies and cultural activities.

“[Retirement planning] hits a nerve that people don’t want to deal with,” Goodstein said. “They are more concerned than ever, but they continue to be reluctant to plan.”

THE TOP 10

Here is Forbes magazine’s take on the nation’s best places to retire:

• Columbus, Ohio. Columbus has a low cost of living and affordable housing. More than a fifth of people over 65 are employed, and that age group only constitutes 6 percent of persons living under the poverty level.

• Dallas. It has a robust economy, thanks to the many corporations headquartered in the city’s center. With sunny weather, low taxes and Southern hospitality, this Texas town is a great place to retire.

• Minneapolis. This twin city has a reputation for big city arts and nightlife, but it can accommodate a retiree’s fixed budget. While the winter may be rough, the cost of living won’t be.

• Houston. Forbes.com’s Best Place to Buy a Home is, not surprisingly, a great place to retire. With tax revenues flowing from the oil and alternative energy industries centered there and a bustling tech scene, retirees won’t need to worry that they are settling into a place on the slide.

• Salt Lake City. The state’s capital is growing fast. With nearly 16 doctors per thousand people — far above the national average — retirees can be reassured by the cluster of medical professionals and facilities nearby. With a median age of 30, retirees might not blend in, but they can be sure that economic growth is ahead.

• Indianapolis, Ind. This Midwestern city ranked No. 1 for housing affordability relative to income and No. 8 for inflation. Students from Purdue and Indiana University share a campus in town and provide youthful vibrancy, while Colts fans up the energy further.

• Denver. A Rocky Mountain retirement will involve outdoor living, a vibrant nightlife and a manageable cost of living. Denver, one of Forbes.com’s Best Cities for Singles, attracts people of all ages.

• St. Louis, Mo. Greater St. Louis is growing fast, and with good reason. Affordable housing and sluggish inflation (just 3.2 percent in June 2008) make this is a great place to retire.

• Atlanta. This Southern city isn’t just for young singletons and families. In terms of net migration among people over 65, Atlanta ranked No. 3 with droves of older Americans picking this affordable and desirable place to spend their golden years.

• Nashville. With a population of 1.4 million, this city came in at No. 9 for affordable housing. It was also one of our Best Places for Business in 2007. Add in pleasant weather and all the benefits a community derives from a top-notch university like Vanderbilt.

Source: Forbes magazine