According to The Motley Fool, the median retirement savings for Americans is $87,000. Just 9 percent of near or recent retirees reported having $1 million in their retirement accounts.
Fort Lee, New Jersey, scored an 88 out of 100 on the liveability index and has a $7,505 monthly cost of living, making it the top retirement spot for those with $2 million.
25 percent of people living in Fort Lee are 65 and up, providing a fantastic opportunity for new friendships among retirees.
GoBankingRates.com determined its rankings by identifying 'retirement hot spots' with high percentages of residents ages 65 and over, considering various economic and demographic factors.
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