Where should you retire?
September 14, 2021
Only 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
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Best cities to retire |
Worst cities to retire |
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1. Orlando |
173. Arlington, Texas |
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2. Charleston |
174. Jersey City |
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3. Scottsdale |
175. Detroit |
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4. Tampa |
176. Vancouver, Washington |
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5. Minneapolis |
177. Wichita, Kansas |
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6. Denver |
178. Rancho Cucamonga, California |
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7. Cincinnati |
179. Spokane, Washington |
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8. Fort Lauderdale |
180. Bridgeport, Connecticut |
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9. Miami |
181. Newark |
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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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