This article takes a look at the 5 best US cities to retire with $1 million in retirement savings. If you wish to read our detailed analysis on navigating the financial landscape of the retirement period in the US, you may go to 20 Best US Cities to Retire with $1 Million in Retirement Savings.
5. Youngstown, Ohio
Insider Monkey Score: 26
Livability Score: 80
Years Lived on $1 Million: 37.9
Starting off our top five selection is Youngstown in Ohio. With a high livability score and a low cost of living, Youngstown offers the best of both worlds for retirees. Senior citizens can engage in a mix of indoor and outdoor activities, and finish off the day with a bite at one of Youngstown’s many eateries.
4. Berea, Kentucky
Insider Monkey Score: 31
Livability Score: 72
Years Lived on $1 Million: 39.1
Famous for its dining options and art festivals, Berea in Kentucky offers retirees affordable living. With a cost of living that is 16.1% lower than the national average, Berea retirees can manage to spend on things other than just the necessities – especially if they have $1 million in their retirement savings. Senior citizens who decide to make this city their forever home can partake in a variety of activities to fill their days. Some of the most popular options include visiting the Berea College Forestry Outreach Center, shopping at the Berea Farmers Market, and dining at the Smokehouse Grill and Buffet.
3. Marion, Iowa
Insider Monkey Score: 32
Livability Score: 80
Years Lived on $1 Million: 39.1
Kicking off our top three is the city of Marion. Located in Linn County in Iowa, Marion is renowned for its cultural events and festivals. Retirees can visit the annual Marion Arts Festival, take a trip to the Granger House Victorian Museum, and take in nature at Allen’s Orchard.
2. Florence, Alabama
Insider Monkey Score: 35
Livability Score: 81
Years Lived on $1 Million: 39.7
A city set in Lauderdale County, Florence is a great place for senior citizens who are looking to move for their retirement period. A college town, Florence is home to the University of North Alabama. Retirees can visit the Florence Indian Mound and Museum, the Deibert Park, or the Frank Lloyd Wright Rosenbaum House Museum.
1. Huntington, West Virginia
Insider Monkey Score: 37
Livability Score: 80
Years Lived on $1 Million: 49.6
The number one spot on our list goes to the West Virginia city of Huntington. Set in the foothills of the Appalachian Mountains, Huntington residents need a low annual income of $20,160. This makes Huntington an ideal place for individuals looking to retire early or senior citizens who want to spend a smaller day-to-day amount in order to spend on their wants. Foreign trips, luxury buys, or even purchasing a home can all be within reach of the Huntington retiree.
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