Residents Need A $45,000 Annual Income In This Small Texas Town Perfect For Retirement

Clocking out of the workforce for retirement comes with a lot of advantages — free time to do what you've always wanted to do, the flexibility to travel and indulge in hobbies, and maybe even treat yourself to a luxury item you've always had your heart set on buying. One part of life that does not change is keeping an eye on your budget. Some people might be saving up their money to be considered rich in retirement while others are working jobs with retirement plans that can be added to their nest egg with Social Security. Either way, you have to be careful to not stretch your fixed income too far.

That's why one town in Texas is the perfect place for retiring, even if you do not have a lot of money in the bank or a high income. Bastrop, Texas is known for being an ideal location to retire in, where a single person can live comfortably on just about $45,600 of annual income, according to World Atlas.

Not every retiree is the same, which is why Bastrop is the perfect place to cater to numerous interests and activities. It has small-town charm while also being located just 33 miles outside of Austin, in case the big city beckons. For those who love the outdoors, Bastrop State Park and the Colorado River offer an array of beautiful opportunities to hike, camp, and explore. Looking to take in a concert or attend a rodeo? All you have to do is check the official Bastrop events calendar for all kinds of entertainment.

While some seniors find they have to stop making certain purchases in retirement, the good news for residents of Bastrop is that there is no income tax in the Lone Star State. That means that even if you are only making about $46,000 a year, you can pocket a little extra to keep buying the things that make you happy and fit your lifestyle, even in retirement.

While Austin might have all the music and culture of a large metropolitan city, Bastrop is not only smaller and more lowkey, but known for its rich backstory and legacy. Founded in 1832, the original settlements dates back as far as 1804. Retirees who consider themselves history buffs will enjoy learning about the indigenous peoples known as the Tonkawa who were the original stewards of the land prior to Spanish colonization of the region, followed by the Texas Revolution of 1836 and economic timber boom in the Lost Pines Forest by the 19th century.

Many people have historically come to Texas seeking their fortunes, including trying to find and build wealth in Bastrop. While being upper-class in Texas requires at least $152,584 each year, Bastrop has a reputation for honoring its past while allowing retirees to see a future that does not require them to spend a lot of money just to meet their cost-of-living expenses. If you are looking for a place to retire where you can be part of a historical legacy and not pinch every penny to do so, Bastrop might be the perfect place for you to call home.