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Where should you retire?

RetirementOnly three in 10 workers say that they’re “very confident” they’ll have enough money for retirement, according to a report by WalletHub, personal-finance website.

In its’ report, “2021’s Best & Worst Places to Retire, to help Americans plan for an affordable retirement, WalletHub compared more than 180 U.S. cities on 48 key items of affordability, quality of life, health care, and availability of recreational activities. The information ranges from the cost of living to retired taxpayer-friendliness to the state’s health infrastructure

Best cities to retire

Worst cities to retire

1. Orlando

173. Arlington, Texas

2. Charleston

174. Jersey City

3. Scottsdale

175. Detroit

4. Tampa

176. Vancouver, Washington

5. Minneapolis

177. Wichita, Kansas

6. Denver

178. Rancho Cucamonga, California

7. Cincinnati

179. Spokane, Washington

8. Fort Lauderdale

180. Bridgeport, Connecticut

9. Miami

181. Newark

10. Atlanta

182. San Bernardino


Best vs. worst

  • Scottsdale, Arizona, has the highest share of the population aged 65 and older, 24.30 percent, which is 3.2 times higher than in Irving, Texas, the city with the lowest at 7.50 percent.
     
  • Brownsville, Texas, has the lowest adjusted cost-of-living index for retirees, 75.65, which is 2.6 times lower than in Pearl City and Honolulu, Hawaii, the cities with the highest at 195.83.
     
  • Plano, Texas, has the highest share of workers aged 65 and older, 25.02 percent, which is 2.4 times higher than in Detroit, the city with the lowest at 10.57 percent.
     
  • St. Louis has the most home health care facilities (per 100,000 residents), 68.79, which is 36.2 times more than in Fontana, California, the city with the fewest at 1.90.

Fortunately, many people don’t move for retirement.

More than half of retirees never move from the homes they occupied while in their early 50s while nearly a fifth move around the time of retirement and then stay put, a Center for Retirement Research study found. For the rest, about half move only when their state of health requires it.

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