Here Are the Top 5 Cities for Retired Singles
For the snapshot below, I've included some important stats about the list's top cities for retired singles including the average price of a single-family home there in 2021 and the median household income according to Dwellics.
|City||Average Home Price||Median Household Income
|1. Cypress Lake, Florida||$218,449||$50,945
|2. Indian River Estates, Florida||$211,450||$44,413
|3. Cocoa Beach, Florida||$378,571||$58,636
|4. Juno Beach, Florida|| $464,310|| $83,125
|5. Inverness, Florida|| $173,003|| $28,673
#tablepress-595 from cache
Read the complete list at Dwellics.com.
How Your Retirement Move Can Be a Success
While you may be comfortable living where you are, there are some benefits to moving to a new and exciting place in retirement.
In the case of Florida, the weather is usually an upgrade compared to most of the United States (except when the hurricanes come). But there are other factors to consider.
Research What You Want
Resist the urge to get caught up in the retirement dreams and scenarios of other people.
What retirement looks like for a single retiree is likely to be totally different compared to a retiree that is married and has kids or grandkids. Think about what's best for you and the lifestyle you want to live in retirement.
Make a shortlist of cities where you want to live, including how far from relatives and friends you can stand to be.
Choose some places and get to know them:
- Read their local newspapers online.
- Take note of any real estate trends and developments.
- Compare the amenities in your current location to where you want to move.
Rent for a Stint
Money expert Clark Howard believes in taking a measured approach when it comes to moving for retirement.
“One of my key rules is you should always rent first for six months, a year or even two years if you’re thinking about relocating for retirement. If it turns out that you don’t like it, at least you’re not all-in owning a home that you’ve now got to get rid of,” he says.
Protect Yourself During Your Move
Hiring a moving company can take a lot of the hard work out of relocating to another place, but you also have to guard your money.
Once you choose a company, Clark says to make sure you request a “binding estimate” so that you can hold your movers to the relocation costs that they originally quoted you. If not, they may try to charge you more!
Want more tips on relocating? Here’s how to hire a moving company.
More Retirement Resources From Clark.com:
The post New Report: Top 5 Cities for Retired Singles appeared first on Clark Howard.