If you're retired and limited to living on $100 a day, Omaha might just be the perfect spot to sail into the retirement sunset.
In AARP the Magazine's annual top 10 list of best places for retirees to live, Omaha made the cut based on strengths including low housing costs; a stable economy; and an abundance of art and cultural activities in the metro area.
Gabrielle Redford, editorial projects manager at AARP the Magazine, said the addition of the $100-a-day variable was a new wrinkle added this year. Turns out, having spending capped helped Omaha make the list.
“There are lots of good things going on in terms of economic stability,” Redford said of Omaha.
Other cities that made the list were San Antonio; Pittsburgh; Roanoke, Va.; Spokane, Wash.; Eau Claire, Wis.; Gainesville, Fla.; Las Cruces, N.M.; Grand Junction, Colo.; and Morgantown, W.Va. The cities weren't ranked within the top 10.
Of the 10 cities, Omaha possessed the third-lowest median home price, a key variable because about one-third of income during retirement is spent on housing.
“That put Omaha near the top of the list, along with its stable economy,” Redford said.
One aspect that has knocked Omaha and Nebraska, as a state, from the ranks of retirement-friendly lists is the state's policy of taxing Social Security and pension income. That, Redford said, is a concern, but for this particular list, cities were scored under an assumed 25 percent tax rate, so state-by-state policy differences weren't factored in.
“It's definitely a concern,” Redford said. “Nebraskans do get taxed on their Social Security and pensions, but you can still buy more with what you have left.”
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