This article claims to list places for early retirees to move to, but the first place mentioned (Honolulu) has a COL defined as "49% above the national average" although medical costs are said to be lower.
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Also, they describe the unemployment rate for some cities in such a way that it sounds as though it's being factored into the equation. If you are retired, then employment is not as big an issue...
http://www.kiplinger.com/slideshow/retirement/T006-S001-best-cities-for-early-retirement/index.html
Well, imagine that. A Mainland magazine prints an article about Hawaii. In November. I wonder how the Hawaii Visitors & Conventions Bureau
bribes feels about this blatant manipulation of the public's weather sensitivities.
To be fair, Hawaii used to be in the retiree top ten lists a lot. Back in the early 2000s a finance magazine ("Wealth"? "Worth"?) used to rank major metropolitan areas for workers & retirees, and Hawaii is one of the nation's most tax-friendly states for retirees.
The cost-of-living data is skewed. For example, we spend less money on gas in Hawaii than anywhere we've lived on the Mainland-- it costs $4/gallon but we drive a lot less on a 30x40-mile island. We pay 35 cents/hour for electricity but many locations on the islands do not require A/C or heating systems. (We also have the nation's highest per capita rates of solar water heating and photovoltaic systems.) We pay exorbitant prices for Mainland food like potatoes and blueberries, but frugal shoppers eat local veggies & fruits. We rarely have to dress like Mainland workers & retirees, so polo shirts and Dockers tend to be more expensive than surfing t-shirts & shorts.
Yet when the ranking algorithms drive by the state's databases they see $4 gas and 35 cents/hour electricity and expensive (Mainland) groceries and pricey (Mainland) clothes.
Yes, Hawaii real estate is expensive. Big homes and large lots here can cost from $600K-$2M. Yet how many retirees want to take care of a big home and a large lot? By the way, Hawaii property taxes are among the nation's lowest.
Hawaii is ranked among the highest in the nation for outdoor lifestyle, healthy living, and longevity-- all of which are probably pretty high on a retiree's list. I'm doing my best to boost those averages.
If those algorithms used databases for longboards and surf wax then Hawaii would have a much lower cost of living...