CNN/Money
graphic Best places to retire
Providence, Rhode Island
Rich in history but still on the move, Providence is remaking itself to be better than ever.
May 5, 2003: 11:44 AM EDT

Providence may be 366 years old, but it's not the kind of city that sits around resting on its laurels. And neither are the people who retire here.

Just look at Louis and Martha Nielsen, 74 and 62, respectively, who moved here 3 years ago after living everywhere from Denmark to New York, Vermont and Pennsylvania.

The Nielsens are season subscribers to the celebrated Trinity Repertory Company and the Ocean State Chamber Orchestra. They usher for a children's theater group and frequent the Rhode Island School of Design (RISD) Art Museum. They've taken classes at Brown University. And come fall, they'll be performing with the Rhode Island Philharmonic, as members of the Providence Singers.

Rhode Island State House  
The Rhode Island State House, built between 1895 and 1904

To simplify their lives, the Nielsens downsized from a house to an apartment when they moved here (their three-bedroom duplex costs $1,400 a month). "We can jump in our car and in seven minutes we can go to Trinity Rep or a major concert hall," says Louis. "It's all very convenient."

Providence is being reborn, with local leaders literally reshaping downtown (they even moved a river) and working to energize the central city with a well-defined arts district, more housing and other projects designed to draw people together. A recent local scandal known as Plunder Dome, which suggests that some city leaders may have accepted bribes in connection with some redevelopment projects, is the political talk of the town. But no matter what the outcome in court, attractions like WaterFire -- a summer-long artist installation of 100 bonfires set on floating braziers in the three downtown rivers -- and Gallery Night Providence are luring young and old alike to the city.

Providence, Rhode Island
graphic
Population: 179,685
Nearest big city: Boston (41 mi.)
Sunny days a year: 205
High July temp: 81
Low January Temp: 18
More statistics

Local colleges are also a boon to retirees. Both Brown University and RISD offer continuing education classes. And Johnson & Wales University not only offers vocational education classes to all ages but has also left its mark on the food scene. "Since Johnson & Wales has bloomed," says Louis Nielsen, "the restaurants have bloomed as well." Plus, Brown's medical school is affiliated with seven hospitals, providing them with a steady stream of Ivy League-caliber doctors.

And it doesn't hurt to have great attractions for the grandchildren. The city hosts a major zoo, a children's museum and kids' art classes. Ocean beaches are less than an hour's drive away. It's enough to keep the Nielsens and their eight grandchildren busy. The Nielsens' four daughters live in the region, but that wasn't the couple's primary motivation for moving here. "You have to start by knowing it's not just any city -- it's Providence," says Louis. "Being close to the kids was a cherry on the sundae."  Top of page




  More on PERSONAL FINANCE
Class of 2012: How we got our jobs after college!
30-year mortgage rate hits another record low
More than 30% of mortgage borrowers still underwater
  TODAY'S TOP STORIES
THE GOOD NEWS IN 'FEAR'
Stocks dip amid Europe worries
30-year mortgage rate hits another record low




graphic graphic
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.