Pennsylvania: Oil City
With the percentage of the 65 and older population hitting 23% of the town’s population, Oil City is one of the most sought-after towns for retirement. Not only will you not get taxed on your social security benefits, but you will also have no tax to pay on your retirement income!
The city is charming, and if you decide to relocate here, you can expect not to spend a lot on a new home, as the average price will bring you a few thousand over $100,000. Talk about great savings!
And if you’re worried that the cheap home prices might attract an unpleasant crowd, you can rest assured that’s not the case here. When talking about violent crime, for every 1,000 people living here, the incidence is just 16.85. Crimes aren’t really a thing in this quaint town, so there’s no need to worry!
3 thoughts on “Don’t Have Any Savings? Here Are The 8 Best Places to Retire”
I’d MUCH prefer any of the numerous tropical expat destinations! The would not only be less expensive (possibly significantly less), but nicer weather than any of these places.
Exactly Tom,
Check out the Philippines…you WILL love it.
Pennnsylvania can eat you up with school taxes. Being a commonwealth, the whole state is broken up into townships. So much waste and duplication of services it more than makes up for not taxing social security or retirement income. The school tax is the killer. The state has more tax collectors than the entire country combined.