John Roberts to succeed Tim Gerend in key responsibilities as Executive Vice President and Chief Distribution Officer effective February 1, 2024 MILWAUKEE, Feb. 1, 2024 /PRNewswire/ — Northwestern Mutual Chairman and CEO John Schlifske today announced senior leadership changes as part of the company’s overall succession planning process to best position the company’s leadership team … [Read more…]
If you’ve just gotten your first $1,000 that’s free to invest, you might be freaking out a little bit. What are you going to do with that money? And how will you keep it growing so that you can continue to invest more for your future?
Well, $1,000 is a great start, but it’s not a ton of money. That means you can’t spread it out into too many different options. But you can prioritize the best ways to invest that thousand bucks. Here are some of the best ways to invest your first $1,000.
Overview: How and Where to Invest $1000
Investment Type
Best For
Paying off debt
Those with high-interest debt
High-yield savings account
Emergency fund
Tax-advantaged account
Beginner investing
Stocks
Having control over where your money goes
Real estate
Alternative investment
Art
Alternative, long-term investment
Peer-to-peer lending
High-risk/high-reward
CD
Those who don’t need the money right away
Treasury security
Safe investment to balance risk
Use a Micro-Savings app to both save and invest
Those who want to invest while shopping
1. Pay Off Debt
First, if you have high-interest debt, you’re likely best off putting your money towards that. If you’re paying 15% or more interest, you won’t likely be able to put your money towards an investment that out-earns that. So it’s best to pay off that debt.
The general rule of thumb here is that you first put enough money into an employer-sponsored account to get any matching option. Then, you put your money towards high-interest debt until that’s paid off. Once that’s done, you can move on to these other options.
2. Use a High-Yield Savings Account
If you don’t have any money saved for an emergency, put your $1,000 into a high-yield savings account for emergencies. This keeps you from going into more debt if an emergency does arise, so it’s a good idea. Look for a savings account with little to no ongoing fees and as high an APY as possible.
Here are a few of our favorite high-yield savings accounts:
Featured Savings Accounts
Bank/Credit Union
Min. Deposit
Learn More
3. Put It Into a Tax-Advantaged Account
If you don’t have an employer-sponsored retirement plan, or if you can’t put this $1,000 in there, you should consider making your investment through an IRA. Tax-advantaged investment accounts can boost that amount and grow your money over time. Luckily, some of the options below, including some robo advisors, allow you to invest through an IRA, so you can get both good returns on your investment and tax advantages.
4. Try Your Hand At Investing In Stocks
You don’t want to invest your whole portfolio over time in stocks. But if you’re interested in trying your hand at stock investing, try it through a solid platform like E*TRADE, TD Ameritrade, or Ally Invest. These platforms let you make trades on your own, so you can see what it’s like to build your custom investment portfolio. You can also opt for a semi-robo advisor like M1. This one is free to use and lets you put together your portfolio of ETFs, which tend to be more stable than individual stocks but still give you the feel for putting together your investments.
But if you don’t know what you’re doing or just don’t want to deal with the time and energy it takes to pick good stocks, fear not. One of the best ways to have your money managed for you is by working with a Certified Financial Planner. The problem is, they’re hard to find (good ones, at least).
5. Start a Robo Advisor Account
If you want more handholding or to be hands-off with this starter investment, consider using a robo advisor like Betterment. With a dollar amount on the small side like this, Betterment is probably your best bet. It’ll let you set your investment preferences and forget about managing your account daily.
6. Use a CD For Mid-Term Savings
What if you want to put that $1,000 towards the start of some larger savings goal for the medium-term? Like buying a house or a car? In this case, you might consider putting it into a CD. If you know you won’t need it to be liquid for a set period of time, a CD can get you a good return on your investment without risking your capital as you will with many investing opportunities.
Read more: Best CD Rates
7. Buy a Treasury Security
If you have a higher income tax rate, you might get a better deal from a Treasury security versus a CD. They do tend to have slightly lower rates, but their earnings are exempt from state and local taxes. Before you decide to lock your money up in either option, be sure you do the math to get the best bang for your buck.
8. Put it in your kid’s 529 account
What if you’re already maxing out your retirement accounts or saving as much as you feel like you should? In this case, consider adding that $1,000 to a 529 college savings account for your kid. These accounts act as an IRA for education spending, so they’re a valuable way to save up now for those hefty college expenses you’ll see in the future.
9. Use a Micro-Savings App to Both Save and Invest
Did you know that you don’t even need to wait to accumulate $1,000 to begin investing? Naturally, there’s more you can do with your portfolio if you have that kind of money. But if you have been having difficulty accumulating it, or you have at least $1,000 and want an automated system to increase it, Stash Invest needs to be on your radar.
Stash Invest provides you with a debit card. You can set the card to use round-ups to make regular contributions to your investment account. For example, if you make a purchase for $9.15, your account will be charged the full $10, with $.85 going into your investment account. Multiply that by dozens of transactions per month, and you can easily see $20, $30, $40, or even $50 going into your investment account each month.
Stash Invest even makes investment recommendations for you. You’ll have the option to choose from more than 400 individual stocks and exchange-traded funds. They provide a portfolio model based on your risk tolerance, time horizon, and investment goals. They won’t manage the portfolio for you but will guide you toward creating one that works for you. As much as anything else, Stash Invest is an excellent introduction to self-directed investing, both helping you to accumulate funds for investment and then gradually helping you get your feet wet with managing your portfolio.
Read our full review on Stash Invest.
Start Keeping Track
Whatever you decide to do with that $1,000, be sure you keep the cycle going by keeping track of both your budget and your investments. One way to do this is with Empower, a platform that lets you pull all of your investing and spending data together into a single place. With it, you can watch your original investment grow, but you can also manage your budget to live on less than you earn and invest the rest.
FAQ
How much interest will I earn on $1k?
To determine the interest you’ll earn on $1k, multiply 1,000 by the rate of return you expect. So, for example, if you expect a 6% rate of return, you’d earn $60 in interest by the end of the year (1,000 x .06 = 60).
How should I invest $1k to make 100k?
To turn $1k into $100k, you expect to 100x your investment. The best way to do this is to start with $1k and continue to invest at regular intervals over time. For example, if you started with $1,000 and invested $200 per month, every month, for 20 years and earned a modest rate of return of 6.5% (compounded monthly), you’d end up with just over $100k.
How can I invest $1k wisely?
To invest $1k wisely, you should open an account with a robo advisor and let them do the work for you. $1k isn’t enough to invest in most mutual funds or even some index funds, but it is enough to start investing with a robo advisor. This way, your investment will be broadly diversified and actively managed on your behalf.
What’s the best way to invest $1k short term?
The best way to invest $1k in the short term is to put it into an ETF or index fund that captures a wide scope of the total stock market (like VTI, for instance). Most brokers will allow you to open an account with $1k, but you might have to search for a fund that will let you buy in for $1k (many require a minimum investment of $2,500, for example). Alternatively, you can put the $1k in a robo-advisor account and let them manage it.
Bottom Line
Having $1k to invest is more than many people have. Most Americans don’t have $1,000 to cover an emergency without going into debt. So consider yourself lucky in that sense. That’s why you want to make sure it lasts, and it’s invested wisely.
Related: Savings by Age: How Much to Save in Your 20s, 30s, 40s, and Beyond
Review our advice above, choose a safe, short-term investment, and keep a close eye on it. Your $1,000 investment isn’t going to get you to retirement by itself, but it can serve as a wonderful safety fund and a foundation for a larger portfolio.
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Abby is a freelance journalist who writes on everything from personal finance to health and wellness. She spends her spare time bargain hunting and meal planning for her family of three. She has a B.A. in English Literature from Indiana University Purdue University Indianapolis, and lives with her husband and children in Indianapolis.
Here’s why you should call the Hoosier state home.
Indiana is celebrated for, among many other things, its agricultural prowess, its hardworking people and its top-tier higher education institutions. From the spanning farmlands to the rich culture, Indiana stands out in its own distinct way. But what is Indiana known for, exactly? It’s certainly not just cornfields and basketball: Let’s take a deeper dive into the intricacies and unique characteristics that make the Hoosier state such a great place to call home.
Employment
Historically known as a manufacturing hub, Indiana continues to play a pivotal role in the nation’s large-scale material production. The state hosts automotive giants, with companies like General Motors and Subaru operating major facilities. This industry not only provides jobs in production but also fuels ancillary industries, creating a ripple effect across the job market of the entire state.
The healthcare infrastructure in Indiana is robust, offering a ton of opportunities for professionals in a number of fields. Renowned medical institutions like Indiana University Health and the Mayo Clinic Care Network provide a spectrum of healthcare services and contribute significantly to the employment scene. From skilled medical practitioners to support staff, healthcare plays a vital role in the overall health of the statewide job market.
With renowned educational institutions like Purdue University and Indiana University, the state has a wealth of employment opportunities in academia and research. These institutions not only attract educators but also drive research and development initiatives, fostering innovation and intellectual growth.
Indiana’s business-friendly environment has nurtured a hard-working spirit. Startups and small businesses find ample support through various initiatives and incubation programs. This fosters a strong entrepreneurial ecosystem, contributing to widespread job creation and economic growth throughout the state.
Outside
Indiana is endowed with natural wonders that captivate outdoor enthusiasts. Indiana Dunes National Park, situated along the southern shore of Lake Michigan, boasts stunning sand dunes, pristine beaches and diverse ecosystems. The Hoosier National Forest, covering over 200,000 acres, is a haven for hiking, camping and wildlife observation to boot.
One of the most iconic attractions in Indiana is the Indianapolis Motor Speedway. Known as the Racing Capital of the World, it hosts the world-famous Indianapolis 500, the world’s largest single-day sporting event. Racing aficionados from around the globe flock to witness the thrilling spectacle of speed and skill.
Food
Indiana’s food scene reflects a rich amalgamation of flavors. The state is known for its Hoosier tenderloin sandwich — a delectable deep-fried pork or beef cutlet. For those with a sweet tooth, the Hoosier sugar cream pie is a local favorite, showcasing a delightful blend of sugar, cream and vanilla.
Five of the best restaurants in Indiana
With a thriving agricultural landscape, Indiana’s farm-to-table movement is strong thanks to the surrounding necessary resources. Farmers’ markets dot the state, offering fresh produce, artisanal cheeses and handmade crafts. These markets provide a glimpse into the heart of Indiana’s agricultural efficiency.
Culture
The Amish community has a strong presence in Indiana and contributes significantly to the state’s cultural diversity. Visitors can explore Amish country, characterized by simple living, traditional craftsmanship and horse-drawn buggies. Shipshewana, with its Amish-focused attractions and markets, is a window into this unique way of life.
Indiana has thriving artistic communities, like Bloomington and Nashville, where galleries, studios and theaters flourish. The Indiana University Art Museum in Bloomington showcases a diverse collection spanning centuries and traversing cultures. Brown County, often referred to as the “Art Colony of the Midwest,” attracts artists and amateur critics alike.
Entertainment
Indiana has left an indelible mark on the world of music. The legendary King of Pop, Michael Jackson, hailed from Gary, while the “Piano Man” Billy Joel was born in the state capital, Indianapolis. The Indianapolis Symphony Orchestra, known for its dynamic performances, adds a symphonic note to the state’s cultural landscape.
Throughout the year, Indiana hosts its fair share of festivals and fairs celebrating everything from food to arts. The Indiana State Fair, one of the oldest state fairs in the U.S., is a melting pot of experiences, with concerts and carnival fun for all.
It’s all about Indiana
With its unique blend of natural wonders, culinary delights, cultural richness and quality entertainment, Indiana invites exploration beyond the ordinary. This state, often overshadowed by its larger neighbors, stands as a testament to the richness and diversity that can be found in the heartland of America.
Ready to find your ideal Indiana apartment? You’ve come to the right place.
In this brief exploration of the cheapest places to live in Indiana, we delve into the unique aspects that make certain cities stand out as ideal havens for those on a tight budget. From accessible housing markets to economic diversity, each city on this list presents distinctive features that contribute to a cost-effective and comfortable lifestyle.
Join us as we uncover the hidden gems and economic advantages that make these places not only the most affordable cities, but also enriching for residents seeking financial stability.
Bloomington stands out among the most economical towns to call home in Indiana. Its cost-effective appeal is anchored in several key factors. Firstly, the city maintains a relatively low overall cost of living, encompassing affordable housing options and reasonable utility expenses. Beyond that, Bloomington offers accessible public transportation, minimizing commuting costs for residents on a budget.
The presence of Indiana University contributes to the city’s economic dynamic, fostering a competitive job market with opportunities for part-time and entry-level positions in the university itself. This aspect can be particularly advantageous for individuals seeking employment without compromising their financial constraints.
Grocery and everyday necessities are reasonably priced in Bloomington, allowing residents to manage their budgets more effectively. Additionally, the city’s commitment to green spaces and outdoor activities provides affordable recreational options, promoting an active lifestyle without significant expenses.
Fort Wayne offers affordable housing options, ensuring that individuals and families can find the best home price and right spot that aligns with their financial situation. The cost of living in Fort Wayne is notably reasonable considering the amenities that the city provides.
Ample job opportunities in Fort Wayne contribute to the income ratio and significantly to its affordability. The city boasts a diverse employment landscape with a range of industries, providing residents with various options for securing a comfortable income.
Furthermore, Fort Wayne prioritizes accessible and budget-friendly community facilities. The city’s commitment to parks and open spaces allows residents to enjoy outdoor activities without incurring significant expenses.
Hammond’s housing market is characterized by reasonable prices, ensuring that individuals and families can find cost-effective living arrangements that meet their financial needs.
One notable advantage of living in Hammond is its strategic location, providing easy access to neighboring cities and employment opportunities. This accessibility enhances the potential for securing affordable employment options, contributing to residents’ financial stability.
Additionally, Hammond’s strong food scene is full of affordable dining options, allowing residents to explore the world of various cuisines without breaking the bank. This culinary diversity adds a unique flavor to the city, providing residents with plenty of budget and family-friendly dining experiences.
One distinct advantage of affordable living here in Lafayette is its proximity to educational institutions and attractions. The presence of Purdue University provides opportunities for budget-friendly educational and cultural experiences, including lectures, events and performances that enhance overall quality of life for residents on a tight budget.
The city’s commitment to green spaces and outdoor activities is another notable aspect. Lafayette boasts well-maintained parks and communal spacess that are not only easily accessible but also contribute to a healthy and active lifestyle without significant expenses.
Lafayette’s local economy, supported by a mix of industries, presents residents with varied job opportunities, promoting financial stability for those seeking employment within their budget constraints.
One distinctive advantage of renting in South Bend is the city’s commitment to supporting a healthy lifestyle. Well-maintained parks and outdoor facilities not only provide residents with affordable leisure options but also contribute to a more active lifestyle without additional costs.
South Bend’s proximity to the University of Notre Dame is a notable aspect, offering potential renters access to educational and community resources without straining their budgets. The university’s presence enriches the local atmosphere and provides opportunities for affordable entertainment and intellectual experiences.
The city’s transportation infrastructure is another cost-effective aspect for renters. South Bend’s accessible public transportation system minimizes commuting expenses, allowing residents to navigate the city conveniently without a significant financial burden.
One notable advantage for renters in Evansville is the city’s affordable utilities and lowest cost of living expenses. Lower utility costs contribute significantly to the overall affordability of renting in the area, allowing residents to manage their monthly expenses more effectively.
Evansville’s commitment to community services and rec facilities is another key aspect. The city is home to a number of parks, affordable outdoor activities and open green spaces that contribute to a high quality of life for renters seeking budget-friendly leisure options.
The local job market in Evansville is full of employment opportunities, ensuring renters have access to a range of options that align with their skills and qualifications. This economic diversity supports financial stability for individuals seeking employment within their budget constraints.
One distinctive advantage for renters in Kokomo is the city center’s affordable cost of living. Lower living expenses, including utilities and everyday necessities, make it a particularly attractive and affordable place for those seeking to manage their monthly budgets effectively while renting.
Kokomo’s community focus is another noteworthy aspect, as the city prioritizes local events and affordable activities. Residents have access to safe parks, community spaces and budget-friendly entertainment options.
The city’s strategic location and ease of transportation contribute to its appeal for budget-conscious renters. Kokomo’s accessible transportation infrastructure minimizes commuting costs and enhances convenience for residents navigating the city on a budget.
Muncie is home to Ball State University, providing renters with access to affordable educational and cultural experiences. Renters on a budget can attend events, lectures and performances at ball state university without significant financial strain.
Muncie has a great secondhand market scene, from thrift stores to community markets. This allows budget-conscious renters to furnish their homes, update their wardrobes and meet their daily needs at a fraction of the cost compared to new items, contributing to significant savings.
Muncie boasts a variety of budget-friendly local eateries and diners. Residents can enjoy unique culinary experiences without breaking the bank, thanks to the city’s affordable dining options that cater to various tastes and preferences.
One noteworthy advantage for renters in Gary is the city’s strategic location. Positioned near major highways and transportation hubs, Gary facilitates easy access to neighboring cities, providing residents with diverse employment opportunities. This accessibility enhances the potential for renters to find jobs that align with their skills and financial needs.
Gary’s commitment to green spaces is another unique aspect that caters to individuals on tight budgets. The small city also maintains well-kept parks and outdoor areas around town that not only provide residents with affordable recreational options but also contribute to a healthier lifestyle without the need for expensive memberships or facilities.
Moreover, Gary’s local initiatives for affordable community services, like healthcare clinics and assistance programs, help renters manage their basic needs without incurring significant costs. This focus on community support services contributes to an overall more sustainable and budget-friendly living experience.
One distinctive advantage for renters in Terre Haute lies in the city’s commitment to green spaces and outdoor activities. With a ton of parks, hiking nature trails and public use areas, residents can do as they please in the great outdoors.
The city’s proximity to Indiana State University adds a unique dimension for Terre Haute renters on a budget. Access to the university’s educational resources, including libraries and events, provides affordable opportunities for personal enrichment, further enhancing the overall living experience.
Find your affordable Indiana apartment today
In the heart of the Midwest, Indiana unfolds as an area full of affordability, with cities like Terre Haute, Muncie and Gary providing distinct advantages for individuals seeking budget-friendly living in affordable places.
As we conclude our exploration of the cheapest places to live in Indiana, it becomes evident that these cities and towns not only prioritize financial sustainability but also offer a rich tapestry of experiences for those seeking to thrive within their means.
The most expensive places to live in Indiana
Known for its affordability, Indiana also houses pockets of opulence in certain areas where the cost of living is notably higher. In cities like Carmel, a northern suburb of Indianapolis, and Zionsville, residents experience a lifestyle marked by upscale amenities and a high standard of living. The housing market in these areas is characterized by luxurious homes and exclusive neighborhoods, contributing significantly to the elevated cost of living. With top-tier schools, large parks and upscale shopping and dining options, these suburbs attract those seeking a more affluent residential experience.
Another noteworthy enclave of affluence is located in Fishers, an Indianapolis suburb that consistently ranks among the most prosperous places to live in the state. The city’s planned communities and upscale developments contribute to a higher cost of housing and the meticulously manicured neighborhoods reflect a commitment to providing residents with an elevated living experience. The presence of high-end shopping centers, gourmet restaurants and exclusive recreational facilities adds to the allure of Fishers as a haven for those who can afford the finer things in life.
In the southern part of the state, Newburgh is renowned for its picturesque riverfront properties and upscale residences. The town’s charming ambiance, historic architecture and waterfront views contribute to the premium living experience that comes with a higher price tag. While these areas represent some of the most expensive places to live in Indiana, they also showcase the diversity within the state and population, catering to residents who prioritize luxury and exclusivity in their residential choices.
Your ideal Indiana home awaits
Whether you’re looking for a budget-friendly apartment or a large house on the water, you can find the right place in just a few clicks today.
Pennsylvania, the Keystone State, offers a range of diverse living experiences from bustling urban centers like Philadelphia and Pittsburgh to serene rural boroughs. Amidst this diversity, cost of living is a key factor for many looking to relocate within the state. For renters, some cities in Pennsylvania stand out as particularly economical options. Our analysis identified five cities – Johnstown, Indiana, Pottsville, McKeesport, and Butler – as the most affordable places to live for renters. Each of these cities offers the charm and amenities of Pennsylvania living, while being friendly on the pocket too.
Johnstown, PA
Johnstown, home to close to 20,000 residents, shines as one of the most affordable cities in Pennsylvania. With a median income of $29,171 and a median rent for a two-bedroom apartment at just $685, Johnstown is a great option for renters. Despite the modest cost of living, the city doesn’t lack for attractions. It’s home to the Johnstown Flood National Memorial, the Johnstown Inclined Plane – the world’s steepest – and the Grandview Cemetery. The city’s rich industrial heritage and resilient spirit offer a unique living experience.
Indiana, PA
Indiana, Pennsylvania, offers a compact small-town charm with a population just above 13,000. Notwithstanding the median income of $30,934, the living expenses here are quite low with a two-bedroom rental asking price of $601. Indiana is home to the Jimmy Stewart Museum, dedicated to the legendary actor and native son. Access to education is easily available with the Indiana University of Pennsylvania in town. With many parks and recreational spots like Blue Spruce Park and Yellow Creek State Park nearby, Indiana provides a balanced and affordable living experience.
Pottsville, PA
Pottsville, with a population of over 13,000, boasts a remarkably reasonable median two-bedroom rent of $412. The city, with a median income of $39,154, offers a high quality yet economical lifestyle. Home to the historic Yuengling brewery, the oldest in America, Pottsville is rich in culture and history. Beautiful local parks like Rotary Park and JFK Memorial Pool and recreation areas offer ample opportunities for outdoor activities.
McKeesport, PA
In terms of affordability, McKeesport stands out, especially with a modest median home value of $51,200. Renters will find it good value for money with a median rent of $903 for a two-bedroom home. McKeesport’s population of 19,128 benefit from the city’s great location at the confluence of the Monongahela and Youghiogheny rivers. The city’s Renziehausen Park Rose Garden is a local treasure, and the Great Allegheny Passage trail offers a great opportunity for biking and hiking.
Butler, PA
Despite being the smallest city on the list with a population of 13,008, Butler packs in an impressive punch when it comes to affordability. With a median income of $32,746 and a median rent of $785 for a two-bedroom home, it makes for a great place to live for renters. Butler is known for its historic landmarks like the Butler County Courthouse and is just a short drive from Moraine State Park, offering lots of outdoor activity options.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
There’s more to Indiana than farmland and college basketball.
The best places to live in Indiana are not merely dots on a map but realms where nature, modernity and the quintessential Midwestern warmth entwine to create days filled with comfort, opportunity and joyful community camaraderie.
As we travel through the picturesque landscapes of the best towns in Indiana, a narrative of a life well-lived under the serene Midwestern sky unfolds. The whispers of the rivers, the laughter in the parks and the hum of the bustling cities call out to those seeking that ever-elusive blend of peace and prosperity.
Population: 100,777
Average age: 40.0
Median household income: $119,772
Average commute time: 24.4 minutes
Walk score: 19
Studio average rent: $1,143
One-bedroom average rent: $1,570
Two-bedroom average rent: $1,927
Among the glittering emeralds of the Midwest, Carmel shines brightly as one of the best places to live in Indiana. This quaint town boasts a range of amenities that would tickle anyone’s fancy. Its reputation precedes it with a standing ovation for safety, exceptional schooling and a close-knit community spirit. Education is especially remarkable, with the Carmel Clay School District frequently garnering praises and accolades, ensuring the town’s youngsters get a top-notch education. Residents also benefit from a flourishing job market that has attracted folks from near and far, further fueling its economic vigor.
Take a stroll through Carmel and you can’t help but admire the well-preserved natural beauty interwoven with the urban landscape. The Monon Trail, a 24-mile pathway, offers an open invitation for outdoor aficionados to explore the scenic charm on foot or bicycle. The city’s heart pulses at the rhythm of arts and entertainment with The Center for the Performing Arts holding the torch high with its spell-binding performances, while a multitude of restaurants and boutiques line the streets.
Population: 882,039
Average age: 34.2
Median household income: $54,321
Average commute time: 22.5 minutes
Walk score: 31
Studio average rent: $1,183
One-bedroom average rent: $1,219
Two-bedroom average rent: $1,372
As the heart of the Hoosier state and unquestionably one of the best places to live in Indiana, Indianapolis is a capital city where the old intertwines gracefully with the new. The bustling city life is complemented by serene retreats, notably the picturesque canal walk. Education here is not just confined to the classroom; the city is a living lecture hall with its historic landmarks and monuments that whisper the tales of bygone eras. The job market is just as inviting, with strong healthcare, education and finance industries, making it a conducive environment for career growth and opportunities.
A weekend in Indianapolis is like opening a box of assorted chocolates; there’s a flavor for every palate. Sports enthusiasts find their haven in the iconic Indianapolis Motor Speedway, while artistic souls find solace in the galleries and theaters scattered across the city. A solid selection of local spots offers a culinary journey that might start with savory Hoosier pie and traverse across the globe before ending with a classic espresso. The neighborhoods each have a unique charm, offering a sense of community and belonging within the big city.
Population: 101,171
Average age: 36.5
Median household income: $117,503
Average commute time: 24.0 minutes
Walk score: 18
Studio average rent: $1,205
One-bedroom average rent: $1,617
Two-bedroom average rent: $1,985
Fishers exhibits a particular kind of charm that’s more than just skin deep. The schools here are the epitome of excellent, nurturing the minds of the young residents who may very well be the thinkers and doers of tomorrow. The employment scene is respectable, with numerous opportunities in a wide range of industries.
The town’s green spaces are like its lungs, with Geist Reservoir being the heart where residents flock for a splash of adventure. The food scene is as inviting as a warm loaf of bread straight out of the oven, with a ton of restaurants serving dishes that delight the senses. Local businesses and small open-air markets echo with friendly banter, painting a picture of a community tightly knit yet welcoming to all.
Population: 79,968
Average age: 24.0
Median household income: $52,226
Average commute time: 22.0 minutes
Walk score: 43
Studio average rent: $1,244
One-bedroom average rent: $1,276
Two-bedroom average rent: $1,537
Bloomington is a hub of intellectual enrichment, largely courtesy of Indiana University. The educational ecosystem here isn’t merely a fountain of knowledge, but a catalyst for the local economy, providing a ton of employment opportunities not just in academia but in industries that orbit it. The essence of innovation wafts through the tree-lined streets, merging seamlessly with the historical charm that the city retains in its well-preserved 19th-century architecture.
The beauty of nature is a constant companion to Bloomington residents, with places like Monroe Lake or the Hoosier National Forest offering a tranquil escape from the bustle of daily life. A healthy offering of outdoor activities is at the fingertips of adventure aficionados, from hiking trails that meander through the lush landscapes to the calm waters ideal the paddleboarders. The melody of life here is sweetened by the hum of community, visible in the lively farmers markets, engaging local events and the easy smiles exchanged between neighbors.
Population: 65,292
Average age: 28.8
Median household income: $36,661
Average commute time: 20.9
Walk score: 38
Studio average rent: $785
One-bedroom average rent: $650
Two-bedroom average rent: $800
As the proud home to Ball State University, Muncie exudes an intellectual vigor that invigorates the streets, drawing in a pool of youthful energy and innovative ideas. The employment scene is a robust one, with opportunities spanning education, healthcare and manufacturing, forming a stable backbone for the town. Moreover, Muncie’s historic downtown is a quaint display of the past, with architectural treasures that harken back to bygone eras while housing contemporary eateries and boutiques, illustrating the town’s aptitude for marrying the old with the new.
When the workday winds down, locals often head to the scenic reservoirs or peaceful parks that are peppered throughout the town, embracing the serene beauty that nature generously offers. Minnetrista, with its lush gardens and plentiful events, is a beloved spot for family outings. The rhythm of life here is gentle yet fulfilling, making Muncie stand out among the best places to live in Indiana.
Population: 70,926
Average age: 34.1
Median household income: $89,258
Average commute time: 26.1 minutes
Walk score: 15
Studio average rent: $1,097
One-bedroom average rent: $1,250
Two-bedroom average rent: $1,431
Noblesville is a delightful mingling of historical charm and modern allure, with its well-preserved 19th-century buildings standing tall amidst the gentle tide of contemporary life. The job market is a hearty stew of opportunities with healthcare, manufacturing and retail providing a solid foundation for the town’s economic landscape.
The hum of activity around the White River paints a picture of a community deeply connected to nature’s bounty, with families often flocking to the shores for a day of leisurely fun or an adrenaline-pumping adventure on the water. The local farmers market is a showcase of the town’s agricultural and artisanal prowess. Leisure is a cherished right in Noblesville, with the soothing notes of a live concert at the Ruoff Music Center, or the crack of a bat at a local baseball game adding melody and rhythm to the tune of everyday life.
Population: 265,974
Average age: 35.3
Median household income: $53,978
Average commute time: 21.1 minutes
Walk score: 32
Studio average rent: $
One-bedroom average rent: $
Two-bedroom average rent: $
Fort Wayne, in northeast Indiana, wears its history with pride, as seen in the well-preserved forts and historical structures that dot the city. The local economy is promising, with thriving healthcare, manufacturing and retail sectors that not only fuel the job market but also propel the town on a path of steady growth.
The green lungs of Fort Wayne are the lush parks and trails that invite residents for a morning jog or a tranquil walk, setting a tranquil and active tone for the day. The town’s penchant for sports is palpable, with the roar of a crowd at a local basketball game resonating as a testament to the spirited community.
Population: 50,569
Average age: 35.5
Median household income: $72,380
Average commute time: 17.6 minutes
Walk score: 29
Studio average rent: $999
One-bedroom average rent: $1,262
Two-bedroom average rent: $1,462
Columbus boasts a lot of buildings designed by legendary architects, making the skyline a visual delight. It’s not merely about aesthetics, though. The solid educational infrastructure is like a fertile ground where the seeds of curiosity are sown, nurtured and grown into trees of knowledge. The flourishing economy, fueled by a blend of manufacturing and tech firms, holds promises of a bright future, reflecting a town that’s progressive and focused on the future.
The weekends usher in a slight bustle in the downtown area, with families and friends thronging to the farmers’ market. The serene banks of the East Fork White River offer a calming escape, painting a picture of serene contentment. Social engagements, outdoor adventures and a feeling of community hold together the fabric of life in Columbus, making it not just a town of architectural marvels, but a haven for those seeking a truly balanced lifestyle.
Population: 116,486
Average age: 37.7
Median household income: $42,623
Average commute time: 18.7 minutes
Walk score: 44
Studio average rent: $550
One-bedroom average rent: $785
Two-bedroom average rent: $962
With the Ohio River cradling it on one side, Evansville presents a harmonious blend of natural beauty and urban convenience. Education here is great, with institutions that sow the seeds of curiosity and knowledge among young minds. The job market is diversified thanks to robust healthcare, manufacturing and service industries, offering a broad spectrum of employment opportunities and paving a path of steady growth for the town.
The local restaurants play the role of social melting pots, where conversations flow freely over a cup of freshly brewed coffee. When the weekend rolls in, the Evansville Museum of Arts, History & Science is a popular spot for families, making learning a fun-filled affair.
Population: 70,835
Average age: 33.0
Median household income: $47,690
Average commute time: 17.5 minutes
Walk score: 38
Studio average rent: $1,131
One-bedroom average rent: $963
Two-bedroom average rent: $1,359
Lafayette retains a quaint charm even as it embraces the momentum of modern life, making it a delightful place to call home. An intriguing economy, propelled by manufacturing, healthcare and education, stands as a testimony to Lafayette’s progressive spirit, offering a multitude of job opportunities to its residents.
The bustling farmers’ market is a testament to the town’s close-knit community and a haven for those seeking fresh, local produce. Weekends often see families flocking to the Columbian Park Zoo, reveling in the simple joys that nature and companionship bring.
Find an apartment in Indiana today
The best places to live in Indiana stand as testimony to the state’s ability to offer a quality of life that is steeped in community values, opportunities for growth and simple pleasures. As we made our way through the charming boulevards, got lost in the bustling cityscapes and found solace by the riverside of these towns and cities, we painted an appealing image of Indiana living.
Each place featured above offers a promise of a life well-lived. The true essence of Indiana lies in its welcoming embrace, where every sunset promises a brighter dawn and every face bears the warmth of a community that’s tightly knit yet ever-expanding.
Ready to find the perfect place in Indiana? We’re here to help.
So you’re thinking it’s time to open an IRA? That’s great news! An individual retirement account (IRA) is an excellent option. It will give you tax benefits as you save for retirement.
Opening an IRA can seem like an intimidating process. But it’s really pretty simple. Here, we’ll detail the six steps you need to follow to get it done.
How to Open Your First IRA
1. Make the Roth vs. Traditional Decision
Before you can open an IRA, you need to make one major decision: Roth or traditional.
A traditional IRA is one that lets you put in pre-tax dollars. You take a tax write-off in the year of contribution (assuming you’re eligible). You don’t pay taxes on the returns that accrue in your account. But you’ll pay income taxes on withdrawals during retirement.
With a Roth IRA, you contribute after-tax dollars to the account. But when you withdraw the money, you don’t pay any taxes.
Not everyone is eligible for a Roth IRA. So check out the eligibility requirements before you put a lot of time into this choice.
Deciding between these two options can take some time. You’ll need to do some math based on your current marginal tax bracket, state and local income taxes, and projected taxes during retirement. We won’t go into all the calculations here. If you’re not yet sure whether to go Roth or traditional, read this article for a primer on how to do the math.
2. Decide What You Want to Invest In
You can narrow down the list of potential IRAs by deciding ahead of time what you want to invest in. For instance, you could invest in a combination of individual stocks and bonds. Or you could invest in mutual funds or ETFs. Another option is to invest in certificates of deposit.
Here a Dough Roller, we often suggest investing in mutual funds or ETFs. These can give you access to a wide, balanced range of investment options. They may be less volatile than individual stocks. And they are often less expensive.
Need more information before you can decide? Check out these articles on different types of investments:
How to Invest in Index Funds
What are ETFs (and Are They a Strong Investment Option)?
Mutual Funds vs. ETFs–Does it Really Matter?
Stocks vs. Bonds
How to Build a Bond Ladder – Create a Regular Cash Flow
3. Decide How You Want to Manage Investments
The next decision you need to make is how you’ll manage your investments. Do you want to manage them all yourself as a hands-on investor? Do you want someone else to manage them for you? Perhaps you want something in between these extremes?
This decision is somewhat less crucial than your first choice. You can change your mind later if you decide differently.
Here are some of the main options to consider:
Self-Driven Investing: So you want to take charge of your investments on your own? In this case, you may need to open your account with a brokerage like TD Ameritrade or Ally Invest. These brokerages will give you access to a variety of investments, including stocks. You could also open an IRA with a mutual fund company like Fidelity. This option lets you drive your own investments through mutual funds, rather than individual stocks. E*TRADE offers it all–you can trade stocks, bonds, mutual funds, ETFs, options, and futures. You can also open an IRA account with no minimum.
Target-Date Investing: Want to take a more hands-off approach to investing? Consider opening an IRA at a brokerage that offers target-date investing. Basically, this automatically balances your portfolio based on your estimated retirement date. As you get closer to retirement, your investments will become more conservative and, likely, stable. Mutual fund companies often offer target-date funds.
Robo-Advisors: Robo advisors like Betterment help you manage your investments in ETFs. These options start you out with a questionnaire to determine your risk tolerance. They set up your portfolio based on your answers. Then you can track and manage your investments from their online interfaces.
4. Research Your Options
Once you’ve narrowed down your choices by answering questions two and three, you’re ready to choose where you’ll open your IRA. There are some great options available these days. Some of our favorites are TD Ameritrade, E*TRADE, and Betterment. Click the links to check out our reviews on each of those options.
What, exactly, should you look for when reviewing your investing options? Here are some questions to answer before you decide where to open your IRA:
How much will they charge? It is absolutely essential that you pay attention to fees when it comes to investing. Even a single percentage point can make a huge difference over the course of your investing life. Know that you’ll likely get hit with fees for maintaining an account and trading. You may face additional fees for managed accounts and for the particular investments you choose. Some fees are inevitable. The goal is to earn good returns while paying as little as possible in fees.
What’s the minimum to open an account? This will matter less if you have a few thousand dollars available when you open your IRA. But if you’re strapped for cash, check the minimum contribution to open an account.
What investments do they offer? Obviously since you spend time in the last two questions deciding how you wanted to invest, you need to answer this question. Different IRAs will let you access different investment types, from ETFs and real estate funds to individual stocks and bonds. Be sure your choice aligns with your investing goals.
How easy is the account to manage online? If you’re like most modern investors, you’ll want to manage your account online, and maybe even through an app. Most of our favorite companies have good-to-great online interfaces. Just be sure you understand how the interface works so you can manage your investments easily.
What do reviews have to say? Finally, check out solid reviews of the companies you’re considering. Some will have better customer service than others. Some will have an easier-to-use online interface. Checking out reviews will help you find the answers to questions like these.
5. Open and Fund an Account
Actually opening an account is pretty simple once you’ve worked through the decisions. With most IRA offerings, you can apply online. You’ll need to provide some personal information, such as your name, address, and Social Security number. If you’re choosing a robo advisor, you’ll also walk through a questionnaire to help the advisor set up your portfolio.
Then, you’ll most likely be able to link your funding account to your IRA. Oftentimes, you’ll need to wait for one or two micro-deposits to hit your funding account. Once you confirm these micro-deposits, the accounts will be linked. You can then fund your IRA and get started investing.
6. Keep Going and Growing
Now that you’ve opened your first IRA, you just need to keep funding it and keep tabs on it. You can contribute just a few bucks a month. Or you can contribute all the way up to the federal maximum limit for that year. (Check here for the latest federal limits.)
If you decided to start out in a managed account whether a target-date fund or a robo advisor account–do some more research. Learn more about investing. This way, you can at least be sure you’re happy with the choices the system is making for your investments. And if you aren’t happy, you’ll be empowered to make different choices for yourself.
A Note for the Self-Employed
This article has mainly focused on the simpler topic of traditional and Roth IRAs for those in traditional employment. If you’re self-employed, though, you have a wider variety of options available to you. Your steps will be similar to those above. But you’ll first need to decide what type of IRA to open.
You can get more information on self-employment retirement options in this article. Start there. Then come back here to complete the standard five steps for opening an IRA.
How to Manage Your IRA
Track and Analyze your Investments for Free: Managing investments can be a hassle. You may have multiple IRAs, multiple 401ks, as well as taxable accounts. And then there are bank accounts. The easiest way to track and analyze all your investments, regardless of where they are located, is with Empower’s free financial dashboard.
Empower enables you to connect all of your 401(k), 403(b), IRAs, and other investment accounts in one place. Once connected, you can see the performance of all of your investments and evaluate your asset allocation.
With Empower’s Retirement Fee Analyzer you can see just how much your 401k and other investments are costing you. I was shocked to learn that the fees in my 401(k) could cost me over $200,000!
Empower also offers a free Retirement Planner. This tool will show you if you are on track to retire on your terms.
Abby is a freelance journalist who writes on everything from personal finance to health and wellness. She spends her spare time bargain hunting and meal planning for her family of three. She has a B.A. in English Literature from Indiana University Purdue University Indianapolis, and lives with her husband and children in Indianapolis.
Thinking about quitting your current job for a new career in real estate? Sara Denig did just that, and she didn’t leave just any job behind; she was a nurse practitioner! On today’s show, Sara and her husband, Matt Denig, join us to discuss the challenges, and benefits, that come with making a life-changing career move. Hear why the freedom of real estate was best for Sara and why it might be right for you. Plus, Matt pulls from his extensive experience as a loan officer to share some little-known tricks for getting clients the best possible terms on a mortgage.
Listen to today’s show and learn:
About Sara Denig [2:13]
What it’s like working with a spouse in real estate [4:53]
Advice on working with family [5:58]
Why pricing is so important: Sara’s first listing [7:14]
Transitioning from nursing to real estate [10:05]
Going the extra mile for clients [10:53]
How to stage homes on a budget [12:00]
Quick tips on staging a home [13:38]
How to win business from your sphere as a new agent [16:18]
Sara’s sales stats for 2021 [18:30]
A better alternative to the “pop by” [19:07]
How to make organic referrals to your lender of choice [22:46]
Averting crisis at the closing table [24:57]
Tips for buyers in today’s competitive markets [29:30]
Simple tricks for submitting a more competitive offer [31:53]
Sara’s advice for agents: just do it [39:40]
Details on Indiana real estate markets [42:25]
What it was like selling real estate in 2020 [44:12]
Sara’s tips on succeeding in real estate right now [46:16]
Sara’s favorite CRM [48:49]
How hot Indiana real estate markets are right now [51:12]
How low rates impact inventory [51:25]
Matt and Sara Denig
Matt Denig comes to us as a graduate of Indiana University (Bloomington). Matt has over 15 years of experience in the real estate/mortgage industry and has been consistently one of the top in his field. Matt was recognized as top 5% of Mortgage Originators for Fairway Mortgage in the nation! His team placed in top 1% of Mortgage Originators for 2016 and 2017! Communication is key in every transaction and we have a team always on stand by 7 days a week. Matt focuses on Conventional, USDA, FHA, Indiana Housing, and is a certified VA mortgage specialist. Matt enjoys spending time with friends and family, fishing, and spending time with his wife Sara and son!
Sara Denig is going on her 4th year. She started as a FT Nurse Practitioner with a dream. In that time Sara has had another baby and each year dropped her hours to devote more time to RE and increased her business. She puts estimates above (spreadsheet at home) and YTD income. She still expect big things for the last quarter. Motivation, Service, and putting people at ease on such a big purchase is where Sara shines. Taking care of people’s health and their biggest investment is not much different. Real Estate allows her to do it her way. Sara is a giver and it always comes back! Instead of pop bys She has moved to Amazon Prime gifts. Her husband is a top 1% in the nation lender and they work together more times then not (on buy side).
Sara’s success in real estate is due to her passion, experience, professionalism and commitment to serving real estate needs. She is constantly educating herself on the latest trends in the marketplace so she can find the right home for you or price your home to sell accordingly.
Related Links and Resources:
Thank You Rockstars! It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email. -Aaron Amuchastegui
School’s almost out for the summer, but for some parents, the homework might be just beginning. For those hoping to move before school starts next year but aren’t sure where to go, a new survey can point you in some smart directions—that is, if you can afford it.
WalletHub has just released its 2023 Best & Worst Places to Raise a Family report, ranking how America’s 180 biggest cities stack up by analyzing 45 key metrics that matter to parents. They include local school quality, crime rates, economic factors such as income and unemployment, as well as access to child care, health care, and recreation.
The most family-friendly city of all this year is Fremont, CA, which ranks No. 1 in terms of education and child care, and No. 2 for health and safety. And despite being located in the pricey San Francisco Bay Area, Fremont comes in 18th on the list for affordability, which means it’s a relative bargain for the area.
In fact, five of the top 10 kid-friendly metros are in California. However, decent options are scattered far and wide, and some surprising locales made the list, with Overland Park, KS, coming in at No. 2.
At the bottom—that is, the worst for families—is Cleveland, OH, which ranks dead last for socioeconomics and very low for education, health, and affordability. Right behind Cleveland is Memphis, TN, flagged as the worst in the data set for violent crime.
The family-friendly premium: How much parents pay
What these rankings make abundantly clear is that parents who want the best for their kids might find they’ll have to make some trade-offs. For instance, Overland Park was tops for affordability, but only 115th for “family fun”—a category that includes access to playgrounds, parks, ice rinks, and other amenities.
Meanwhile, Los Angeles ranks No. 1 for family fun but No. 174 for affordability. The high cost of housing is a large part of the problem, with Realtor.com® data showing that the median listing price here hovers at $1.2 million.
Aside from housing, taxes—particularly for public schools—is another big piece of the financial burden families must shoulder if they want the best education and opportunities for their kids.
“Quality schooling and affordable housing are key factors families should consider when setting down roots,” says Susan J. Paik, a professor at the School of Educational Studies of Claremont Graduate University and one of WalletHub’s experts for the report. “The cost of living, especially housing options, matters for growing families.”
For a closer look at what “family-friendly” will cost in terms of housing, here are the WalletHub rankings along with Realtor.com data on the median home prices for each area.
10 most family-friendly cities
Fremont, CA: $1.25 million
Overland Park, KS: $638,950
Irvine, CA: $1.4 million
Plano, TX: $550,000
South Burlington, VT: $564,000
San Diego, CA: $999,000
San Jose, CA: $1.25 million
Scottsdale, AZ: $939,000
Gilbert, AZ: $600,000
San Francisco, CA: $1.46 million
Does a family-friendly city make a difference?
Parents have good reason to weigh all pertinent factors when they decide where to raise their families, due to a growing body of research that finds just how malleable kids’ minds are to their surroundings.
“There is a growing body of research suggesting that a child’s development and a family’s quality of life are influenced greatly by the city in which they live,” says Cristina Santamaría Graff, an associate professor of education at Indiana University Purdue University and one of the experts consulted for this report. “More than ever, local officials need to consider the well-being of families inclusive of economic, physical, social, emotional, and environmental factors.”
So what should parents be thinking about as they peruse the WalletHub report?
“Families should strongly reflect on how places connect with and support their values as a family,” says Sherrill W. Hayes, director of the School of Data Science and Analytics at Kennesaw State University in Georgia. “This is sometimes a difficult question for young parents since they may just be figuring themselves out as adults, but location determines access to jobs, activities, educational opportunities, social networks, and other intangibles.”
We’re living longer than ever before, and doing so in better health. So what can you do when you retire and want to keep your mind sharp or need to gain additional skills to stay competitive at work?
For many, the answer is to go back to school. But tuition can be prohibitively expensive.
At the same time, schools want their classrooms to be full of engaged students, regardless of age. In the interest of continuing education, many colleges and universities offer reduced or free college for seniors (typically, adults 60 and up, although the rules vary).
In fact, we found at least one option in every state.
Free (or Cheap) College for Seniors in Every State
While some institutions only allow senior students to audit classes, many offer the chance to earn credits toward a degree at a reduced — or completely waived — tuition rate.
Does your state have a senior citizen education program you can use? Find out below!
1. Alabama
The Alabama Commission on Higher Education states that Alabama seniors can attend any two-year institution within the state tuition-free.
Adults 60 and older should contact the financial aid office at any community college for admission and eligibility details.
Some Alabama schools, like Coastal Alabama Community College, offer online courses if you want to avoid in-person classes.
2. Alaska
The University of Alaska waives tuition for senior-citizen residents who receive full Social Security benefits. Seniors must wait until the first day of classes to enroll to ensure that there’s space remaining; they must also complete a tuition-waiver form.
Additional costs such as student activity, health center and lab fees are not covered; the student must pay them directly.
Online courses may be included if offered; check with the admissions office for confirmation.
3. Arizona
All 10 campuses of Maricopa Community College allow senior citizens to take classes for credit at 50% of the full tuition cost.
Students 65 and older must register between the first and second class sessions of the semester to ensure space is available. You can register for in-person, online or hybrid classes.
4. Arkansas
Arkansas waives tuition for anyone 60 and over who wants to work toward an undergraduate or graduate degree at state institutions.
Student fees may apply, and senior citizens may register only for classes with space available. If you need online courses, check with your chosen college to see what options you have.
5. California
California State University waives all tuition for state-supported classes and dramatically reduces campus fees for residents age 60 or older.
Different Cal State locations may offer online courses or in-person classes. Students who attend in-person classes must provide proof of COVID-19 vaccination.
6. Colorado
Students age 55 and older may attend class on a space-available basis at Colorado State University. There is no tuition fee, but visitors don’t get credit for attending class. It is up to the instructor how participation and grading of assignments and tests are handled. CSU currently offers face to face, hybrid and online classes.
At the University of Colorado Denver, people 60 and older may enroll on a no-credit basis to attend up to two classes per semester as auditors when space is available. (Courses with a lab component are excluded, as are computer courses and online courses.)
7. Connecticut
Residents 62 and up may attend state colleges, including community colleges, for free on a space-available basis.
At Central Connecticut State University, for example, tuition is waived for any resident over the age of 62 who applies for full- or part-time admission for a degree-granting program. Online courses are included.
Senior students may also take noncredit courses on a space-available basis and have tuition waived. All students must still pay all other fees.
8. Delaware
The University of Delaware, Delaware State University, and Delaware Technical and Community College allow all permanent state residents age 60 or older to audit or take classes for credit for free.
At the University of Delaware, students wishing to use the program must apply for admission on a space-available basis. Some graduate degrees may be eligible, as well. Residents can register for online or in-person courses.
Participants must pay all related student fees and buy their own textbooks.
9. District of Columbia
Senior citizens 65 and up may audit undergraduate courses from Georgetown University’s School of Continuing Studies. These students pay a fee of $32 per credit, which means a three-credit course will cost $96.
To audit a course, there must be available space and the instructor of record must approve the enrollment.
10. Florida
The Florida college system waives application, tuition and student fees for those age 60 and above, but colleges will award no credit and will grant admission on a space-available basis. Check to see whether your chosen college covers online courses as well as in-person ones.
Fun fact: Florida Atlantic University’s Lifelong Learning Society has the largest adult continuing education program in the U.S. It even has its own auditorium on campus to help serve FAU’s 30,000 new registrants each year.
11. Georgia
Georgia residents age 62 and above may take classes on a space-available basis for “little or no cost” at the state’s public colleges.
Seniors may choose to take classes for credit or continuing education, but they must apply through the regular admissions process at their school of choice. Many general education courses are offered online.
12. Hawaii
The Senior Citizen Visitor Program at the University of Hawaii and state community colleges allows senior residents age 60 and up to attend up to two courses per semester free of charge. Seniors who have been residents of Hawaii for at least one year may enroll in in-person, hybrid or online courses for no cost. It’s recommended but not required for students to be vaccinated against COVID-19. Students must demonstrate tuberculosis (TB) clearance by providing test results or a TB risk assessment form signed by a licensed U.S. health care provider.
Schools will not award credit nor will they keep permanent records of students’ class history.
13. Idaho
Programs in Idaho vary based on institution, but some schools offer good deals. The College of Southern Idaho offers free tuition for lower division courses for students aged 60 and older, in addition to other benefits. The college has online and in-person courses.
At Boise State University, Idaho residents who are at least 65 years old can audit classes on a space-available basis for free except for applicable special course fees. BSU offers online courses as well as in-person ones.
14. Illinois
Upon admission, senior citizens age 65 and up who meet income requirements can attend regular credit courses at Illinois public institutions for free. Lab, student and other fees still apply. Each institution will have guidance on registering for online or in-person classes.
15. Indiana
Indiana University offers programs that allow retired residents age 60 and older to take up to nine credit hours per semester and pay just 50% of in-state tuition fees. Courses are in person.
16. Iowa
Private institution Simpson College in Indianola allows people 65 and older to take one noncredit class for free per semester. Courses are open on a space-available basis and do not include lab courses. Online courses may be available.
17. Kansas
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
The registration process varies: The University of Kansas and Wichita State University, for example, require senior auditors to apply for admission. Online or in-person courses may be offered.
18. Kentucky
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
19. Louisiana
Students age 65 and up attending Louisiana state schools receive free tuition and 50% off books and materials at the campus student bookstore. Check with each school to see if online courses are included.
20. Maine
Senior citizens 65 and up may attend undergraduate classes as degree-seeking or audit students in the University of Maine System for free, subject to space availability.
Each college within the system can provide info on the types of courses covered (i.e., online, in-person, hybrid).
21. Maryland
Any student in the University of Maryland System who is retired and over the age of 60 may have tuition waived for up to three courses per semester, even for degree-granting programs. Online courses are available as well as face-to-face offerings.
Online courses are available as well as face-to-face offerings.
22. Massachusetts
Residents age 60 or older can take at least three credits per semester at any state-supported school in Massachusetts and receive free tuition.
Each location has information on what online courses are offered.
23. Michigan
Opportunities for seniors in Michigan vary by institution.
At Michigan Tech, for example, students 60 and older can have tuition waived for up to two courses per semester. Seniors must apply through the admissions office.
Western Michigan University invites seniors 62 and older to register for one class per semester tuition-free, which may include online classes.
At Wayne State University in Detroit, seniors 60 and up receive a 75% discount on tuition but must pay registration and related fees. Wayne State offers some online courses.
24. Minnesota
Minnesota waives tuition for senior citizens 62 and older, but fees and online options may vary by school. At the University of Minnesota, seniors pay a $10 fee per credit, but they can audit for free.
25. Mississippi
There’s no statewide benefit in Mississippi, but some schools have programs for seniors.
Mississippi State University provides a waiver to residents age 60 or older for classes offered on the Starkville or Meridian campuses or by the Center for Distance Education. Seniors are limited to six semester hours per semester and a maximum of 18 credit hours per calendar year, where space is available. MSU offers online courses as well as traditional in-person ones.
The University of Mississippi’s Office of Professional Development and Lifelong Learning allows seniors 65 and older to take one class for free per semester (up to four hours) at any UM campus.
26. Missouri
Missouri residents age 65 and older are exempt from paying tuition at state-supported institutions for classes attended on a noncredit basis. Schools may limit the number of students who receive the tuition benefit based on space availability. Online classes are offered in addition to in-person ones.
27. Montana
The Montana University System offers a tuition waiver for in-state residents 65 or older. Campus and registration fees are not waived. Choose from online or in-person classes.
28. Nebraska
Chadron State College allows adults 65 and up to audit one course per semester for free. The college offers classes online and on campus.
29. Nevada
The University of Nevada, Las Vegas allows seniors 62 and up to take autumn and spring courses free of charge. They pay 50% tuition for summer classes. Lab and other course fees are not covered. Online courses may be offered.
30. New Hampshire
The University of New Hampshire offers residents 65 and older free tuition for two credit-bearing classes per academic year on a space-available basis, so long as they’re not enrolled in a degree program. Courses are offered online or in person.
31. New Jersey
Rutgers University allows retired New Jersey residents 62 and older to audit courses for free in the spring and fall semesters at its Camden, New Brunswick and Newark campuses, space permitting. Current guidelines allow senior citizens to audit in-person or online classes if they have been fully vaccinated against COVID-19.
32. New Mexico
New Mexico offers reduced tuition of just $5 per credit hour to state residents 65 and older. Online courses are available.
For-credit classes are eligible as well as auditing; senior citizens can take no more than 10 credit hours per semester. The program is offered on a space-available basis, and students are responsible for paying any additional course fees.
33. New York
Many schools offer free or reduced tuition for senior citizens. Queens College allows residents 60 and up to audit any course on a space-available basis after completing a Senior Citizen Auditor Application and paying $80 per semester. Up-to-date COVID-19 vaccinations are required to enroll.
At SUNY Purchase, New York state residents 60 and older can enroll tuition-free in a maximum of two credit-bearing, on-campus courses in which space is available. They pay a $50 audit fee, $20 ID processing fee and any course fees. In-person, online and hybrid courses are available, and COVID-19 vaccinations are required for anyone coming on campus.
34. North Carolina
Tuition and registration fees are waived for residents 65 or older attending North Carolina community colleges. Senior citizens can take up to six credit hours per semester for free. Audit options may be available at other schools.
At the University of North Carolina Wilmington, for example, senior citizens may audit classes for free after getting the instructor’s permission and submitting an application. Lab, studio, performance, distance education, independent study, internship and special topic courses are excluded. Online courses are available for those who prefer them.
35. North Dakota
Programs vary by institution in North Dakota. At Bismarck State, for example, senior citizens 65 and older can audit one course tuition-free per semester on a space-available basis. They’re still responsible for other course fees. Some online courses are available.
36. Ohio
Ohio residents at least 60 years old may attend class at any state college for free. Senior-citizen students do not receive credit and can register only on a space-available basis. They are still responsible for special assessments, such as lab fees, that may apply.
Many Ohio state colleges offer online courses, as well as in-person and hybrid.
37. Oklahoma
Oklahoma state colleges and universities waive tuition and fees for senior citizens 65 and older who wish to audit classes on a space-available basis.
38. Oregon
Oregon State University allows senior citizens at least 65 years old to audit classes for free at a maximum of eight credit hours per semester.
The University of Oregon also waives fees for seniors 65 and older auditing classes on a space-available basis.
Online course options may be offered depending on availability.
39. Pennsylvania
Clarion University offers a tuition waiver for residents 62 and up to audit classes. At Bloomsburg University, you need to be only 60 to take tuition-free classes on a space-available basis.
There can be additional benefits at the community college level: Bucks County Community College, for example, waives for-credit course tuition for seniors 65 and up so long as they register after students who are paying full tuition. Many courses are offered online, though some in-person and hybrid options are available.
40. Rhode Island
Tuition waivers can be requested from citizens over 60 at the Community College of Rhode Island. Seats are granted when there is space available.
All degree-seeking senior students must fill out a FAFSA. They also have to submit a Senior Citizens Means Test to verify they have limited income.
Proof of COVID-19 vaccination is required to attend in-person classes. There are also online classes.
41. South Carolina
Residents 60 and above can attend classes at state schools on a credit or noncredit basis, pending space available, for free. The school must grant admission via its normal procedures.
Technology, lab and other fees are the responsibility of the student. Many South Carolina community colleges offer online courses for those interested.
42. South Dakota
Residents 65 and older can attend public universities in South Dakota at 55% of the normal cost of tuition for undergraduate or graduate in-person courses on a main university campus.
Interested adults should apply through the regular admissions system, and the school will automatically grant the discount upon admission. Student fees are not waived.
Contact your chosen university to see whether online courses are offered.
43. Tennessee
The University of Tennessee allows senior citizens to enroll in undergraduate or graduate courses for $7 per credit hour with a maximum fee of $70.
Students will still pay application and course fees. Senior citizens can choose between online courses and in-person ones.
44. Texas
A senior citizen age 65 or older can take up to six tuition-free credit hours at the University of Texas at Austin.
At the University of Texas at Dallas and Lone Star College, undergrad students 65 and older must maintain a 2.0 cumulative GPA to receive a tuition waiver for up to six credit hours per semester.
Check with each individual university to see which online and in-person classes are available for enrollment.
45. Utah
Utah residents age 62 and up may enroll tuition-free at a state institution, space permitting; a quarterly registration fee is required.
At the University of Utah, for example, seniors can audit most classes on a space-available basis and only have to pay a fee of $25 per semester, plus any special fees required. Call to see whether online classes are included.
46. Vermont
Vermonters over the age of 65 can audit one class per semester tuition-free on a space-available basis in the Vermont State College System. Students can take additional classes at a 50% discount of the tuition rate, either in person or online.
They’ll still have to pay administration and course fees for all classes.
47. Virginia
Under the amended terms of the Senior Citizens Higher Education Act of 1974, Virginia residents over 60 years old who earn a taxable income of less than $23,850 annually can audit up to three courses per term for free on a space-available basis at any public institution, either in person or online.
48. Washington
Institutions in Washington are required to partially or fully waive tuition fees for residents age 60 or older who are enrolled for credit on a space-available basis. Nominal fees may apply to students auditing courses.
Some schools limit senior citizens to a certain number of classes or credits; for example, Washington State University caps the waiver at six credits for the fall and spring semesters. Online programs are available.
49. West Virginia
Senior citizens 65 and older at West Virginia University seeking college credit must use the regular admissions form. Those wishing to be non-degree students pay just $5 to apply. WVU offers classes online or in person.
50. Wisconsin
Adults 60 and up may audit classes at the University of Wisconsin-Madison campus or at UW-Madison Online for free, where space is available.
51. Wyoming
At Laramie County Community College, senior citizens 60 and older pay only 20% of the resident tuition rate per credit hour, though they still need to pay any other course or online fees.
Northwest College offers adults 60 and older free tuition up to six credit hours per semester for on-site and online courses, as well as free entry to most college social, cultural and athletic events.
Another Continuing Education Option
More than 100 colleges and universities around the country offer another continuing education program for senior citizens: enrichment courses through the Osher Lifelong Learning Institutes (OLLI).
Prices vary depending upon the institution. Duke University, for example, has a $50 annual membership fee and then charges $50 to $175 per class. Senior citizens can choose to take classes online or in person.
OLLI classes don’t count toward a degree, but if you’re looking for personal development opportunities among older adults, these courses can provide opportunities that mix in the campus experience, too.
Contributor Catherine Hiles updated this post for 2023.