Dream of retiring to a beachside city but don't think you can afford it? Think again. A new list unveiled by AARP Magazine says you can live the good life for less -- just $30,000 a year to be precise.
The magazine looked at cities nationwide and spoke to local residents over 50, taking into consideration factors such as median home price, population, taxes and intangibles such as wallet-friendly entertainment options.
Daytona/Deltona/Ormond Beach Florida made the list, a lovely destination that boasts a median house price of just under $109,000. And the weather isn't too shabby either. Here you can take advantage of beaches and a wide variety of sports.
The importance of retiring on a shoestring has grown thanks to changes in spending patterns among post 50s over the past 20 years. Post 50s are now spending more on rising education and health care costs -- and therefore are saving less.
As a result, the so-called golden years are looking less than golden for some post 50s. According to the Administration on Aging, the median income of people over 65 was $27,707 for men and $15,362 for women in 2011.
Many post 50s may consider going overseas to retire on a budget since there are a variety of low-cost options abroad. However, for those wanting to stay stateside, here are the best relaxing destinations that won't break the bank, according to AARP.
Grand Rapids, Mich.
The median home price in this town is just $114,200. It's a popular place where locals enjoy craft beer, museums, and a variety of performing arts.
South Bend, Ind.
Retired football fans will want to flock to this college town where the median home price is a cool $82,500. Besides the serene campus and Fighting Irish football, one can take advantage of the many area golf courses and, of course, traditional pubs.
If southern comfort is what you're looking for, look no further than Louisville where the median home price is $128,200. This is home to the famed Kentucky Derby and Louisville Slugger Museum -- and a place where the mint juleps are always flowing.
In this quaint New England town, the media home price is just $110,400. The town offers historic architecture and a barrage of outdoor activities, from beaches to biking.
To find out about five other cheap retirement cities read the entire AARP article here.