After putting in decades of hard work, we naturally expect to have financial security in our golden years. But not all Americans can look forward to a relaxing retirement. According to the Employee Benefit Research Institute’s 2020 Retirement Confidence Survey, 6 in 10 workers reported feeling at least somewhat confident that they will have enough money to retire comfortably, but only 24 percent said they were “very confident.”
If so many American workers are worried about their financial future, what other options provide a pathway to a comfortable retirement? For some, the only solution is to keep working. According to Gallup polling, workers in 2019 planned to retire at age 65 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle.
Retirement isn’t all about the money, though. Retirees want to live in a place where they enjoy safety and access to good healthcare, especially with the COVID-19 pandemic taking its toll on the U.S. The ideal city will also have lots of ways to spend leisure time, along with good weather.
To help Americans plan an affordable retirement while maintaining the best quality of life, WalletHub compared the retiree-friendliness of more than 180 U.S. cities across 46 key metrics. Our data set ranges from the cost of living to retired taxpayer-friendliness to the state’s health infrastructure. Read on for our findings, expert retirement advice and a full description of our methodology.
If you’re considering retiring out of state, make sure to check out WalletHub’s “Best & Worst States to Retire” ranking, too.
Best Retirement Cities
| Overall Rank (1 = Best) |
City | Total Score | ‘Affordability’ Rank | ‘Activities’ Rank | ‘Quality of Life’ Rank | ‘Health Care’ Rank |
|---|---|---|---|---|---|---|
| 1 | Orlando, FL | 61.02 | 6 | 13 | 70 | 49 |
| 2 | Tampa, FL | 60.17 | 18 | 14 | 47 | 64 |
| 3 | Charleston, SC | 58.99 | 29 | 18 | 59 | 56 |
| 4 | Miami, FL | 58.54 | 48 | 6 | 106 | 41 |
| 5 | Fort Lauderdale, FL | 58.31 | 53 | 15 | 72 | 29 |
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