Just below 1 / 4 of People are “very confident” they’re going to come up with the money for to retire comfortably. And lots of anticipate to delay retirement not less than till age 65, in line with latest research.
So what’s an individual who’s able to name it quits on the workplace to do? Relocating to extra reasonably priced climes is one possibility.
Private finance web site WalletHub has ranked 182 U.S. cities by retiree-friendliness as a part of its 2019’s Greatest & Worst Locations to Retire report. The research in contrast the cities throughout 46 key metrics, starting from value of dwelling and high quality of native well being care to retired taxpayer-friendliness, crime charges and availability of leisure actions.
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Roughly talking, the highest cities for retirees tended to be situated in Southeastern or Mountain states, whereas these rating final gave the impression to be clustered in California and the Northeast. The latter areas are likely to have greater housing prices and taxes, which may influence seniors dwelling on fastened incomes extra severely.
Some key findings in regards to the cities surveyed included:
- Most seniors: Pearl Metropolis, Hawaii, boasts the very best share of the inhabitants age 65 and older, 23.3% — 3.2 occasions greater than Fontana, California, town with the bottom such share at 7.2%.
- Lowest value of dwelling: Laredo, Texas, has the bottom adjusted cost-of-living index for retirees, 76.28, which is 2.6 occasions decrease than San Francisco, the very best at 195.49.
- Older staff: Juneau, Alaska, has the very best share of staff aged 65-plus, 28.08% — 2.eight occasions greater than bottom-ranked Detroit, with 10.11%.
- Dwelling well being care: St. Louis has probably the most residence health-care services per 100,000 residents, at 49.54, which is 25.7 occasions greater than Fontana, at 1.93.
Listed below are the highest 5 greatest cities for retirees, adopted by the 5 worst (with No. 1 being worst), in line with WalletHub:
The highest 5
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1. Orlando, Florida
2. Tampa, Florida
3. Scottsdale, Arizona
4. Charleston, South Carolina
The underside 5
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1. Stockton, California
2. Bridgeport, Connecticut
3. Warwick, Rhode Island
4. San Bernardino, California
5. Bakersfield, California
For the complete WalletHub report and rating, together with the methodology used, go to https://wallethub.com/edu/best-places-to-retire/6165.
—CNBC’s Crystal Mercedes contributed to this report.