Many people would like to retire in New York but might not be able to afford a NYC or Hamptons lifestyle. Some opt for smaller apartments or modular homes to remain in the surroundings they love. Others are considering more affordable cities in New York or even outside the Empire State.
MarketWatch revealed four destinations in New York that could be viable for retirees on a budget. Saratoga Springs is known for horse racing but is also a beautiful place to live. The Saratoga Performing Arts Center is a cultural hub in the upstate New York area. There are dozens of restaurants to visit and some are run by chefs who escaped the fast-paced world of New York City.
Another retirement option for dedicated New Yorkers is New Paltz. Often known as a college town, New Paltz offers an array of hiking opportunities with breathtaking surroundings. There are also antique shops, bookstores and restaurants with a delightful historical feel.
For those who can tolerate the brutal winters, Ithaca has become another increasingly popular retirement destination. Retirees who prefer to be as close to the amenities of NYC as possible are moving into areas such as Tarrytown and Sleepy Hollow. While homes in this neighborhood can be quite expensive, they are located in a peaceful area that is just 45 minutes away from the hustle and bustle of New York City.
Retirees who are unsure about whether they can afford to stay in New York typically turn to one of the retirement community corporations that have retirement housing in several states. This gives retirees an opportunity to consider living in warmer states such as Georgia or Arizona. For those who worked and raised their families in New York, it can be difficult to think about leaving.