Daily Money - The Best Places to Live for Singles

Elizabeth O'Brien is a senior writer at Money

Here’s a stat that might surprise: 36% of Americans who identify as single are over age 65. In today’s edition, Money rounded up the best cities for singles of any age, and many sounded like great places to retire. For example, our number two spot, Greenville, S.C., is a charming, affordable city that wasn’t on my radar before. Check out our full list, and remember, even if you’re planning a retirement for two, it’s important to prepare for all eventualities. Find a spot that you can enjoy both together and alone — not, for example, a house on the 18th hole if one of you doesn’t like golf.

Best wishes,
Elizabeth

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TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE

The Best Places to Live for Singles

These seven cities are fun, friendly and affordable.

A Special Obamacare Open Enrollment Period Starts This Week

Here’s what to know about getting covered.

3 Ways You'll Still Pay at the Vet Even if You Have Pet Insurance

Beware these common exclusions.

RETIRE WITH MONEY COMMUNITY NEWS

I’d like to give a warm welcome to our second Reader of the Week! Bobbie Moser, 61, retired last August from her job as an education specialist at a local community college. She lives in Suffolk, Va.

How are you enjoying retirement so far?
Retiring in a pandemic hasn’t even made me stir crazy. One of the reasons is that I have a schedule which includes

getting dressed when I wake up to start my day. I’m able to sit on my rocking chair listening to a good book while enjoying the view of my lake, helping to take care of my grandchildren and just enjoying this life God has given me!

That sounds nice! What advice do you have for people preparing for retirement?
Please have your finances in order. Also, I wished that we had started on a Roth IRA sooner. Two years ago, my husband’s work added a Roth 401(k), so we changed the amount we were putting into the 401(k) to the Roth 401(k). We also opened a Roth IRA and have started converting my husband’s IRA Rollover to this Roth IRA. We are paying more taxes now instead of in the future.

What is your spending philosophy?
Have a budget! I always have a line item for savings and an emergency fund, even if it is only $10.

Tell me about your retirement goals.
I want to visit every state in America! I love history and each state has some historical place to visit.

3 REASONS TO OPEN AN IRA

If you want to go beyond a 401(k) for your retirement savings, you should think about an IRA. It’s a chance for your money to grow while taking advantage of potential tax benefits. Find out why contributing to an IRA can make a lot of sense, including the power of compounding interest and why several small contributions annually may be better than a single large one. The more you know, the better prepared you’ll be for your future.

Save more for retirement

Investing involves risk, including risk of loss.
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RETIREMENT NEWS FROM AROUND THE WEB

3 Profitable Home Businesses Launched in the Pandemic

These mature workers pivoted nimbly after stay-at-home orders. NEXT AVENUE

This Tax Pitfall Could Affect Millions Due to Covid-19

Here’s what you need to know about unemployment benefits and various tax credits. CNBC

How COVID-19 Is Sending Many Retirees Back to Work

Many see this past year as a bonus year, financially. INVESTMENT NEWS

Personal Finance TikTokers Are Misleading Users, A New Study Finds

Here’s how to help the young people in your life be smart consumers of content on the platform. ENTREPRENEUR

Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.

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Daily Money - The Best Places to Live for Singles

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