Study Ranks One New Jersey Town the Best Place to Retire in the U.S.

Now is the time to start thinking about your retirement, even if you are 20. Now is the time to take a few minutes and think about the future for you, financially. I say this because the further away from retirement you plan, the better you will be when you retire. So if you are under 30, just Google "planning for retirement".

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 The Best Spots to Retire

I have written about retirement in the past. Each time new data comes out about retirement planning, I like to update you and share the information that hopefully makes planning for retirement a bit easier. A recent report from GoBankingRates.com was published by Travel + Leisure.

Best Spot To Retire In New Jersey

This report on retirement is for those who have saved a very nice nest egg for their golden years. "GoBankingRates.com revealed its list of the best spots to retire for those with $2 million in their retirement accounts — and Fort Lee, New Jersey, came in at the top."

Top Retirement Destinations In America

The list of the top places to retire (2 million savings) in America included:

5. Dunedin, Florida

4. Highland Park, Illinois

3. Sunny Isles Beach, Florida

2. Rocky River, Ohio

1. Fort Lee, New Jersey

Obviously, not everyone will have this type of retirement fund, but if you do then this study is for you. The town of Fort Lee was a top pick. Fort Lee "scored an 88 out of 100 on the liveability index."

Some key findings from the report:

• Fort Lee has a $7,505 monthly cost of living.
• 1 out of 4 people living in the city are 65 and up.
• The yearly cost of living with Social Security benefits is $67,642.