1 Alaskan City Is Winning Retirees Over. Here's Why
Key Points
The list of best retirement cities is dominated by warm-weather locales.
However, one Alaskan city made the list -- and it's for a surprising reason.
- The $23,760 Social Security bonus most retirees completely overlook ›
When most people think of popular retirement destinations, they think of warm weather locales like Florida or North Carolina. Indeed, those two states dominate the latest rankings by U.S. News of the top retirement cities in America. But there's one surprising addition to the list: a city in Alaska with fewer than 300,000 residents.
Image source: Getty Images.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
This Alaskan city could be a dream for retirees
For years, U.S. News has been ranking the best retirement destinations in the U.S. Ranking every potential destination, of course, requires some sort of ranking methodology. Perhaps the biggest factor involved has been the cost of living, which includes many low tax areas. This is a wise methodology, as retirees are often on a fixed income. Choosing a low-cost area to live in can help extend savings while providing a cushion to any potential market downturns.
This year, however, U.S. News updated its methodology to more heavily weigh "happiness" factors. This ensures that the list includes not just money-saving locations, but areas that retirees actually enjoy living in. According to a press release, U.S. News observed that "retirees seek a destination that will not only stretch their dollar, but is also a place for enjoyment."
This update created a few surprises along the way. Nearly cracking the top 20, for instance, was Anchorage, Alaska, which came in at number 21.
What's so attractive about Anchorage? There's no sales tax and no state income tax. The city is also significantly more affordable than most areas in the state. But perhaps the most exciting factor is, of course, the access to nature. In the summer, world-class hiking trails, whale watching, and fly fishing are just minutes away. In the winter, hundreds of miles of ski trails surround the city. Or, you can just cozy up by the fire and read a good book.
You'll have to be fine with a longer, darker winter, but Anchorage, Alaska, deserves more recognition from retirees than it currently gets.
The $23,760 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income.
One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these strategies.
View the "Social Security secrets" »
The Motley Fool has a disclosure policy.
Recommended Articles
