Early Retirement Cities: 21 Great Places Near the Mountains to Retire
Once you've made that difficult climb to achieve financial independence early, why not enjoy some literal climbs in your early retirement? America's mountain majesties can be found in many locations all over the country, and many provide a perfect setting for you to get outdoors, stay fit and gain some perspective on your new life. Plus, higher altitudes also give you cooler weather and less humidity.
We pinpointed 50 great places in the U.S. for early retirees--one in each state--focusing on living costs, median incomes and poverty rates for residents ages 45 to 64, as well as local tax environments and labor markets (just in case you want to dip back into the workforce and stretch your retirement savings further). Of our 50 picks, these 21 destinations offer the added benefit of nearby peaks and valleys to explore.
Huntsville, Ala.
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Total population: 444,908
Share of population, age 45 to 64: 27.8% (U.S.: 26.1%)
Retired cost of living: 5.4% below the national average
Median income, age 45 to 64: $77,266 (U.S.: $69,909)
State's retiree tax picture: Tax Friendly
As one of the 10 Cheapest States Where You'll Want to Retire, the Heart of Dixie boasts many great spots for affordable living. And Huntsville, in northern Alabama, is one of the best. It offers all the low-cost, low-tax advantages as the rest of the state, but adds more generous household incomes.
Home to NASA's Marshall Space Flight Center, the Redstone Arsenal and the Huntsville campus of the University of Alabama, the city offers a robust economy and a highly educated population. You can also find plenty of cultural attractions, from a sculpture trail to a symphony orchestra. Opportunities for outdoor recreation abound, as well: Hiking and biking paths around and throughout the city include advanced slopes of Monte Sano Mountain and more leisurely paths of the Huntsville Greenway system. In fact, Alabama at-large offers many of Florida's popular retirement attractions--warm weather, nice beaches and plenty of golf--all at a typically lower price.
Juneau, Alaska
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Total population: 32,434
Share of population, age 45 to 64: 29.3%
Retired cost of living: 33.2% above national average
Median income, age 45 to 64: $102,396
State's retiree tax picture: Most Tax Friendly
If you crave adventure--and don't mind long winters and vast swaths of wilderness--it pays to live in Alaska. Literally. The state's oil wealth savings account gives all permanent residents an annual dividend: $1,600 per person in 2018. That's on top of the state's generous tax situation: Alaska has no state income tax or sales tax.
