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Where to Retire if You Are Rich
For many people, deciding where to live in retirement involves some careful financial calculations. But what if you didn’t have to worry about money? Forbes lists the top 15 places to retire if you are rich:
15. Ladue, Mo. This St. Louis suburb is the wealthiest town of any size in Missouri. A typical house is $775,000, and almost one-fifth of its 8,500 residents are retirement age. St. Louis Cardinal great Stan Musial called Ladue home, and the city is also the site of the 123-year-old St. Louis Country Club.
14. Los Altos Hills, Calif. The minimum lot size is an acre, and the average house price is $2.3 million in this hilly enclave in Silicon Valley. The only non-residential entities in Los Altos Hills are a community college and a convent; there is not even a post office. However, it does lie on top of earthquake faults.
13. Montecito, Calif. Just outside Santa Barbara, Montecito has a Mediterranean climate and south-facing beaches that catch the sunrise and the sunset. The average home price is $1.7 million, and 22 percent of the 9,000 residents are retirement age.
12. Naples, Fla. About 42 percent of the people in this Gulf Coast town are retirement age. They have plenty of time to enjoy the 10 miles of beaches and what Naples says are more golf holes per capita than any other city in America.
11. Newton, Mass. Close to Boston by car or rail, Newton was settled almost 500 years ago. Part of Boston College’s campus is in Newton, where the average home price is $700,000. Fun fact: The Fig Newton cookie is named after this town.
10. New York. For those with plenty of money, there is plenty of culture, history, fashion and cuisine – as well as access to major international airports. A two-bedroom apartment in the best parts of town easily goes for more than $1 million.
9. North Key Largo, Fla. On the northernmost of the Florida Keys, North Key Largo is in the self-proclaimed “Diving Capital of the World." An average home is $1 million, and 43 percent of its residents are retirement age.
8. Palm Beach, Fla. More than half the residents are 65 or over, and home prices average about $1 million on this 16-mile-long island. Palm Beach was originally a luxury resort opened by one of the founders of Standard Oil.
7. Paradise Valley, Ariz. Located between Phoenix and Scottsdale, Paradise Valley boasts sunny, warm winters and plenty of golf. Homes average $1 million.
6. Rancho Santa Fe, Calif. Almost a century ago, Rancho Santa Fe was founded as a planned community by the Santa Fe Railroad. Located about 20 miles north of San Diego, it has beautiful scenery, excellent weather and plenty of outdoor activities. Homes sell for an average $1.6 million.
5. San Francisco. The City by the Bay is one of the most expensive cities in the country. But for retirees with plenty of cash, it also offers lovely weather, many cultural, dining and sports opportunities, and some of the prettiest houses anywhere. However, there is the occasional earthquake.
4. Santa Fe, N.M. Known for its gorgeous scenery, bustling art world and exceptional weather, Santa Fe is also New Mexico’s capital city. Houses among the well-heeled easily surpass $1 million.
3. Sun Valley, Idaho. Skiing in the winter and golf, fishing and other outdoor recreation in the summer are among the big draws at Sun Valley. It has been a mecca for outdoorsmen since before Ernest Hemingway bought a home there in the 1940s. Homes average $700,000.
2. The Village of Indian Hill, Ohio. While not as famous as some places on this list, this suburb of Cincinnati draws residents to its rolling hills and parkland. The average home price is $840,000.
1. Winnetka, Ill. Located in the prestigious North Shore that hugs Lake Michigan north of Chicago, the city is only a 40-minute train ride to all the amenities of the City of Big Shoulders. It boasts lovely homes – including two featured in the “Home Alone” movies. The average house price is $800,000.