While many of us opine for the white picket fence, expansive home on the ¾ are in the lovely, crime-free neighborhood and tight knit community, that is often less and less of the case. People are moving around more and more, keeping their jobs less and less, and many are finding occasion to retire early. But where are you going to be able to retire cheaply enough that you are indeed able to retire early? What should the parameters be for early, cheap retirement? How can you sustain an early and cheap retirement where you are still able to do the things you’d like to? Consider these three places when you are trying to make your early retirement both functional and affordable.
Cheap Place Early Retirement: Arizona: If you are retiring you are probably trying to get away from it all; in the largely desert state of Arizona “getting away from it all” is what people are doing. Many times individuals are able to find affordable living solutions for a more permanent relocation in a place like Arizona. Even if you need to work for a few years, there is no state income tax in Arizona and the benefits to living in the middle of the desert often show themselves in the long lives people tend to live in Arizona. Moreover with many suburban communities popping up every day, the ability to plunk down some money, get a cheap home to retire in, and live the life you want to live is well within your reach; you’ll also have access to bigger cites like Tucson and Flagstaff when you want to get out and have fun! Check the Arizona State Retirement System for more information about an early, cheap Arizona retirement.
Cheap Places Early Retirement: Vermont: If you are more interested in an eastern time zone and you like the change of seasons, Vermont may be the perfect spot for your retirement. As the next to smallest state in terms of residents, Vermont still has many of the advantages of small-time community life. In Vermont you have the bonus of being able to plunk down some investment capital in your own home in the rural outdoors which you can enjoy for some time. Check out the Vermont Retirement Guide at TopRetirements.com for more information about retiring cheaply and early in Vermont.
Cheap Places Early Retirement: Open Road: If you are like me and my wife, the thought of always being in one place may be a little daunting. Many retirees are opting to get an RV and spend their time living in a variety of places. One thing to consider though is to try and remember that you are only going to be in that space; so if you’re married and considering this, remember this fact. Plus you’ll probably want to spend your time in a variety of places so remember too that you’ll have to agree where to go lest you spend the time bickering. However if you’re both easy going, love the road, and love the freedom that living in an RV offers, consider the open road the cheapest retirement available!
Sources:
https://www.azasrs.gov/web/Home.do
http://www.topretirements.com/state/vermont.html
