Knoxville Named The Best Place To Retire Early 2017

Knoxville has topped a national list once again. This time Knoxville has been named the best place to retire early in 2017 by MagnifyMoney.

With the rise of the FIRE (Financial Independence and Retiring Early) movement, more and more people are trying to retire early. Instead of retiring at 62, many people are trying to retire early in the 40s and 50s. FIRE retirees retire early and live off their savings until they are able to access their retirement plans.

In a recent study, MagnifyMoney ranked 2017 cities that are the best and worst to retire early. Knoxville was named the best place to retire early in 2017.

In order to find the best and worst cities to retire early, MagnifyMoney looked to find cities with a low cost of living, a good quality of life, and access to employment, if retirees needed to supplement income.  Each city was given a score of 100 possible points. Each of the factors were weighed as follows: cost of living (50%), quality of life (30%), and employment (20%).

Based on that information, Knoxville ranked the best out of 217 cities in America. It scored a 98 on the overall cost of living, 41 on the qualify of life, and 83 on the employment score, giving it an overall score of 78.

To Knoxville residents, it’s no shock that Knoxville appears on another national list. Knoxville enjoys an extremely low cost of living. There also is no shortage of things to do outdoors. With Lake Loudon and the Great Smoky Mountains, there are no shortage of outdoor activities. There are also multiple sports teams and thriving downtown Knoxville, meaning there are activities for everyone in Knoxville.

Here is the to 10 list of places to retire early:

  1. Knoxville, Tennessee

  2. Memphis, Tennessee

  3. Sherman, Texas

  4. Benton Harbor, Michigan

  5. Wichita Falls, Texas

  6. Jonesboro, Arkansas

  7. Cleveland, Tennessee

  8. Hattiesbrug Missouri

  9. Evansville, Indiana

  10. McAllen, Texas

Here are the top worst places to retire early:

  1. Arlington, Virginia

  2. Washington, D.C.

  3. Fairbanks, Alaska

  4. Honolulu, Hawaii

  5. Stockton, California

  6. Denver, Colorado

  7. Chicago, Illinois

  8. Bakersfield, California

  9. San Diego, California

  10. Anchorage, Alaska

This is not the first time that Knoxville has topped a national ranking list in recent years. Earlier this year, Knoxville was named one of the hottest real estate markets by Zillow.  In 2015,  Knoxville was named one of the Best College Sports Towns, ranking #2 on the national list and was also named one of the Best Cities To Relocate To By The Huffington Post. In 2014, Knoxville was named one of America’s most affordable cities by Forbes.

Are you thinking about buying a Knoxville home in 2017? Please let us know if there is any way that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be reached at 865-696-1888 or via email at Kati@KnoxvilleHomeTeam.Com. Also, be sure to check out our Knoxville Home Search Page.