Preparing for retirement requires plenty of research on personal finance topics such as budgeting and managing income through investments or finding quotes for reverse mortgages and other financial products. Cutting expenses is another critical part of the cash flow equation. One way for seniors to cut expenses is to consider relocating in retirement years to an affordable yet appealing new home town.

US News and World Report recently published a study on locales where retirees can find both the lifestyle they crave and a cost of living they can afford. Business reporter Emily Brandon looked at the cost of housing, including property taxes, plus the availability of low-cost or free entertainment. Other considerations include transportation costs and availability of jobs (since many retirees opt to work longer than expected or take on part-time work to supplement income). Of course, high quality health care and elder care facilities are high on the list of factors that make a city an attractive place to retire.

Fun Factor Important in Retirement

Since retirees have extra leisure time, a big consideration is what they can do with that free time. Many of the places identified in this article as appealing are college towns with plenty of sports activities to watch, educational opportunities, and cultural events available at low cost. Many colleges offer special pricing for seniors who want to take classes.

Top Ten Best Affordable Places to Retire

The following places (in alphabetical order) meet the standards of low-cost housing, affordable cost-of-living, plenty of activities to enjoy:

• Ann Arbor, Michigan
• Asheville, North Carolina
• Aurora, Colorado
• Columbia, South Carolina
• Columbus, Ohio
• Eugene, Oregon
• Fort Worth, Texas
• Jacksonville, Florida
• Kansas City, Missouri
• Tucson, Arizona

Search for Your Personal Best Place to Retire

Individuals, of course, have different criteria for a desirable place to retire, so US News offers a search tool that allows seniors to identify a region or state where they want to live. You can add search factors for home prices, crime rates, weather, demographics, health care facilities, and activities to come up with a "personal best" recommendation list.

Michele Lerner