One solution is to look for affordable places which will actually pay you to relocate! Yes, there are places which desperately want more residents and they are willing to offer financial incentives to those who will move there. Kiplinger and a few other online sites provided the information for the list below.
The locations on the list offer a variety of rewards for people willing to relocate, including housing allowances, free lots or home building sites, tax rebates, help with student loan repayment and more. Depending on the incentives which are offered, your entire family may even be motivated to relocate somewhere new. As a result, this list does not contain just those offers which would be appealing to senior citizens, but also those which might make life easier for other family members, as well.
Places Which Will Pay You to Live There
Rural Kansas - If you would like to move to rural Kansas, and you have not lived in the state for the past five years, 77 of the state's 105 counties offer state income tax waivers for up to five years. Seventy of those counties also offer student-loan repayments of up to $15,000, if you have a young adult in your family who would like to relocate with you. They must have received an associate's, bachelor's or post-graduate degree and meet other requirements. A few of the counties are also offering free lots or other incentives. This could be an opportunity for your entire family to get a fresh start. Kansas also has an affordable cost-of-living and some couples will find they can live there on the average amount of Social Security alone.
The State of Alaska - When my husband and I traveled in Alaska about ten years ago, we were amazed by the number of people we met who had spent their working years in the "lower 48 states" and then retired to Alaska. The incentive is that Alaska pays mineral royalties to all their residents each year. The annual royalties have ranged from less than $500 to over $2,000 per person in the family. You cannot be absent from the state for over 180 days a year and you cannot have been convicted or incarcerated for a felony or certain misdemeanors. Residents must apply each year between January 1 and March 31. The royalties are a terrific way to supplement your retirement income. In addition, many of the retirees we met were working during the summer in the tourist industry as bus drivers, store clerks and tour guides. In the dead of winter, residents of Alaska often take their vacations or visit relatives who live in more moderate climates, so you are not stuck living there all year long. In fact, you can spend half the year living in a more temperate climate, while still receiving the annual royalties.
Harmony, Minnesota - This town of roughly 1,000 people will give you a $12,000 cash rebate if you build a new home in the community. There are lots available in the town for about that price, so basically they are giving you the cost of a home building site. There are several large companies in the area which create some job opportunities for people nearing retirement or other members of their family. If you enjoy outdoor life and an affordable, small town environment, this offer could make it possible for you to build your own retirement home.
The Province of Saskatchewan, Canada - If you are willing to relocate to Canada, the Province of Saskatchewan wants to attract and keep more college graduates. If you or other family members are recent college graduates, they will reimburse the tuition fees which were paid during college. In turn, this money could be used to pay off college loans. If the adult children in your family are looking for a way to pay off their student loans, and they want to live in an area with other highly educated people, this could be an exciting place for the entire family to relocate.
New Haven, Connecticut - Because of the low homeownership rate in the city, they are offering as much as $80,000 in incentives to help residents purchase homes or make energy-saving home upgrades. Your children or grandchildren can even get free tuition to any Connecticut college if they graduate from public school in the state and are in good academic standing. If you love the Northeast and are looking for a lovely state where you can enjoy your retirement, you may want to explore this offer.
Curtis, Nebraska - If you would like to build your own retirement home, but cannot afford to purchase a lot, another place you might consider is Curtis, Nebraska. This small town of less than 900 people is offering free lots on which you can build a new home or set up a modular home. This could be a very affordable opportunity for many retirees. You have to start construction within six months of being given the lot, and complete construction within 24 months.
Detroit, Michigan - If you happen to work for certain companies which are located in the downtown or midtown parts of Detroit, they will give cash and loans to both renters and new homeowners who are willing to live in certain communities in the city. They are trying to attract new residents to the inner city so, if you are willing to be an urban pioneer and would like to work for one of the companies on their list during the years prior to retirement, this could be a good way to get yourself in a better position to retire.
Niagara Falls, New York - This romantic mecca for honeymooners will help repay student loans for recent college graduates or those who have a two-year technical degree. Recipients can receive as much as $3,492 a year for two years. In return, they must agree to live in certain parts of downtown Niagara Falls for the full two years. Because the population of the city is shrinking, they are trying to attract young, educated adults. If you have a young adult in your family who is struggling to repay their student loans, your entire family might find it beneficial to move to Niagara Falls. Retirees may even be able to find work in the tourist trade in the area.
Important: Be sure to thoroughly check out the offers which interest you. Each one of them has special requirements which you may or may not be willing to accept. For example, you may be required to build your home within a certain length of time or in a certain neighborhood; or you may be required to work for a particular company. Make sure you fully understand the offer before making a major move.
If you are looking for more ideas about where to retire in the United States or other countries, financial planning, common medical problems, Social Security, Medicare and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.
Watch for my book, Retirement Awareness: 10 Steps to a Comfortable Retirement, which will be released by Griffin Publishing in 2018.
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