A recent survey from GoBankingRates.com revealed the best place to retire in the country. Find out where this retirement haven is and why it scored 92 on its Quality of Life Index.
Choosing a place to retire is an important decision, and according to a report from the Alliance for Lifetime Income, America will soon reach its record number of retirees, also known as the “silver tsunami,” with 4.1 million Americans expected this year 65 years old and have therefore reached the official retirement age.
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Camp Hill, a small town in Pennsylvania, has been named the best place to live for retirees in the United States. GoBankingRates surveyed communities across the country, both large and small, ranging from 1,000 to 10,000 residents, and found that Camp Hill is the best place for retirees to unwind.
This is due to the low monthly cost of living, which amounts to about $3,356 per month, and the low crime rate of 9.4 per 1,000 residents. In addition to considering the monthly cost of living and the crime rate, other factors were also taken into account. This included the average household income, which was $105,000 for the 3,200 households.
There are currently 8,115 residents in Camp Hill and 15% of them are over 65 years old. What makes this small town a great place for retirees to settle down is the slower pace compared to larger cities. While life in Camp Hill may be idyllic, the business district has a vibrant shopping scene with women-owned shops, an award-winning library and a local farmers market.
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When choosing a place to retire, retirees need to consider the following. These include factors such as the location of the nearest healthcare facilities, transportation methods, and even the year-round weather in the area. Beau Herman, owner and certified senior care counselor at an assisted living facility in Orlando, advises future retirees to consider: “Access to reputable hospitals and specialized health care providers is crucial, especially for seniors with chronic illnesses.” This includes choosing one Area where there are houses for older people. Consider single-story homes with non-slip floors, railings, and grab bars to prevent injuries from falls.
Socializing opportunities are an essential part of retirement life. For this reason, Camp Hill is considered one of the best places to retire. For example, the weekday farmers market not only offers fresh produce, but also provides retirees the opportunity to meet with friends and other community members.
A recent study found that with inflation rates rising, nearly 90% of retired Americans fear inflation will deplete their savings. As a result, many retirees turn to part-time work in retirement. If finding a part-time job is part of your retirement plan, consider retiring in a city that offers job opportunities in your area and has a strong local economy.
Retirees should also look at a state that offers a more tax-friendly environment, such as Alaska, Florida, Texas and Wyoming, which does not impose an income tax.
“Some states with high income taxes don’t tax Social Security in retirement, so your current tax situation could change when you retire,” Dan Trumbower, a senior wealth advisor at a wealth management firm, said. When looking at a city or state’s taxes, you should also think about the cost of living, because even places with lower taxes can have higher prices for everyday goods like groceries.
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Tucked away in Pennsylvania, this property is America’s favorite retirement retreat. It originally appeared on Benzinga.com
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