10 cities where retirees rule
Today, 13% of the US population is 65 years old or older. But in Honolulu, Miami and many other cities, it feels as if the seniors are in charge.
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"At first, it sounds lovely to retire to Hawaii and enjoy perpetually pleasant weather and ocean breezes. There are also some tax perks for retirees, including the ability to subtract Social Security benefits from your federal adjusted gross income, and retirement account distributions derived from employer contributions to pensions and profit-sharing plans are tax-exempt. But living in Hawaii is a far different experience than vacationing there. "We are far from anywhere, so to fly anywhere is much more costly. You don't have the option of driving six hours to be somewhere completely different. That really gets to people sometimes," says Lesley Brey, a certified financial planner for LJ Brey Inc., in Hawaii. "There are lots of things that are more expensive. Food is more expensive here. Housing tends to be much more expensive than people are used to." Senior citizens 60 and older spend $2,118 per month on housing if they have a mortgage and $539 in other monthly costs if they have paid off their house. The typical retiree renter pays $953 per month. If you end up needing an assisted-living facility, it will cost you a median of $3,815 per month, and a semiprivate room in a nursing home in Honolulu costs a median of $303 per day."
Thanks, Money...you made an **** of yourself again.
If you plan to hike one of the trails in the desert or in the surrounding mountains, as it says in the Scottsdale, AZ slide, you had better not be afraid of snakes. Just sayin........
This list only identifies U.S. cities with the highest PERCENTAGES of retirees - it doesn't claim to show the best, the worst, the cheapest, or the most expensive cities for retirement.
The irony I see is that Money gave readers with a reality/perception disconnect another opportunity to demonstrate their ability to make **** remarks. :P
Honolulu....before you retire there, go and check out the traffic. It has to be the worst place on the planet
Boy, did you miss the boat. check out THE VILLAGES in florida. 50,000 pop. with 85% over 65.
This place is retirement central. Everything you could every want. Did I mention the 27 golf courses.
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