Accounting for living costs is essential when it comes to choosing a retirement destination. AARP has compiled a list of cities where retirees can live well on $100 a day, which amounts to $36,500 a year, before taxes. After taxes are applied at 25%, the amount is pared down to about $27,375 a year ($2,281 a month).
The organization looked at areas where median mortgage rates would fall at about $719 a month, which leaves seniors with $2,562 a month for other expenses. Since those figures gave AARP many more than 10 cities to consider, the organization narrowed the group down by selecting locations with great restaurants, colleges and other amenities.
Here are the cities that made AARP’s Top 10 Places to Live on $100 a Day.
- Spokane, Wash.
- Las Cruces, N.M.
- Eau Claire, Wis.
- Roanoke, Va.
- Morgantown, W.Va.
- Pittsburgh, Pa.
- San Antonio, Texas
- Omaha, Neb.
- Grand Junction, Colo.
- Gainesville, Fla.
Fortune recently compiled its own list of best places to retire.
Even if you’re not looking for a retirement spot, InvestorPlace has many articles about the best and worst places to live.