Retiring in Rhode Island

2 mins readLast updated March 30, 2023by Kate Morgan

Rhode Island, located on the East Coast of the United States, is a popular retirement destination for many Americans seeking a small, friendly state with access to the ocean, cultural events, and a mild climate. With its stunning coastline, charming towns, and bustling cities, Rhode Island offers a unique retirement experience that attracts many retirees every year. According to data from the U.S. Census Bureau in 2020, Rhode Island had a population of approximately 1.1 million people, with over 16% of the population being over the age of 65, making it one of the top states with a large retirement population.

What age can you retire in Rhode Island?

Like many states, Rhode Island has no specific retirement age that is mandated by law. This means that individuals are free to retire whenever they choose, as long as they are able to financially support themselves. However, there are some age-related benefits and considerations for retirees in Rhode Island: 

Why do people retire to Rhode Island?

  • Small state feel: Rhode Island has a small state feel, with many charming towns and friendly communities. Retirees can enjoy living in a close-knit environment that offers a sense of community and belonging. 

  • Mild climate: Rhode Island's climate varies depending on the region, but many areas have a mild climate with cool winters and warm summers. This makes it an attractive destination for retirees who want to avoid harsh weather conditions. 

  • Ocean access: Rhode Island is home to numerous beaches and marinas, providing ample opportunities for boating, fishing, and other water activities. 

  • Cultural scene: Rhode Island has a rich cultural scene, with numerous museums, galleries, and performing arts venues. The state hosts several festivals and events throughout the year, including the Newport Jazz Festival, the Providence WaterFire, and the Rhode Island International Film Festival. 

What puts people off retiring to Rhode Island?

  • Cost of living: Rhode Island's cost of living is generally higher than the national average, which could be a concern for retirees on a fixed income. Housing and healthcare costs, in particular, are higher than in many other states. 

  • Natural disasters: Rhode Island is prone to natural disasters such as hurricanes and flooding, which could be a concern for retirees living in certain areas. 

  • Traffic: Rhode Island's traffic can be congested during peak travel times, particularly around the major cities of Providence and Newport. 

Best places to retire in Rhode Island

If Rhode Island is your chosen retirement state, here are some of the best places to retire in: 

  1. Newport: Located on Aquidneck Island, Newport is a historic city with a vibrant cultural scene. Retirees can enjoy the city's rich history, beautiful beaches, and numerous restaurants and shops. 

  2. East Greenwich: This small town is located in the western part of the state and is known for its quaint downtown area, historic homes, and excellent schools. Retirees can enjoy the town's quiet charm and proximity to Providence, the state's capital city. 

  3. Providence: As the state's capital and largest city, Providence offers retirees a diverse range of cultural experiences, including museums, theaters, and restaurants. The city is also home to several universities, which offer a variety of continuing education programs. 

  4. Narragansett: Located on the southern coast of the state, Narragansett is a popular beach town with beautiful views of the Atlantic Ocean. Retirees can enjoy the town's laid-back atmosphere, excellent seafood, and easy access to other coastal destinations. 

  5. Warwick: Located in the central part of the state, Warwick is a suburban community with a diverse range of housing options and amenities. Retirees can enjoy the city's parks and recreational facilities, as well as its proximity to both Providence and the coast. 

  6. Cumberland: Located in the northern part of the state, Cumberland is a quiet suburban community with a strong sense of community. Retirees can enjoy the town's parks and trails, as well as being able to travel easily to other destinations in New England. 

In conclusion, Rhode Island offers a range of retirement options, from charming small towns to vibrant cities, and beautiful coastal destinations. Retirees can enjoy a mild climate and a variety of cultural attractions but should be prepared for a higher cost of living. It's important to seek expert financial advice to weigh up all of the costs associated with retiring in Rhode Island, including property taxes, insurance, and living expenses, in order to make an informed decision about whether the state is the right choice for your retirement. 

Content writer

Kate Morgan

Kate has written for leading publications and blue chip companies over the last 20 years.