Marketing firm’s research & survey indentifiy ‘wallet-friendly’ cities
With more Americans delaying their retirements because of the poor economy and financial insecurity — and a fifth of them having no money saved for retirement — the leading personal finance social network WalletHub conducted an in-depth analysis of 2014’s Best and Worst Places to Retire.
To help American retirees find the best and most wallet-friendly places to call home for their Golden Years, WalletHub analyzed the retirement-friendliness of the 150 largest cities in the United States. We did so using 25 key metrics that range from cost of living to job prospects for workers aged 65 and older to the availability of recreational activities. The study also includes an examination of each city’s quality of life and health care conditions.
- Best Cities to Retire
1 Tampa, FL
2 Grand Prairie, TX
3 Orlando, FL
4 St. Petersburg, FL
5 Scottsdale, AZ
6 Overland Park, KS
7 Port St. Lucie, FL
8 Cape Coral, FL
9 Plano, TX
10 Peoria, AZ - Worst Cities to Retire
141 Jersey City, NJ
142 Baltimore, MD
143 Fresno, CA
144 Worcester, MA
145 Stockton, CA
146 Chicago, IL
147 New York, NY
148 Philadelphia, PA
149 Newark, NJ
150 Providence, RI
Key Stats
- The adjusted cost of living for retired persons in New York is 2 times higher than in Nashville, Tenn.
- The annual cost of in-home services in Madison, Wis., is 2 times higher than in Brownsville, Texas.
- The percentage of employed people aged 65 and older in Plano, Texas, is 3 times higher than in Fontana, Calif.
- The percentage of the population aged 65 and older in Scottsdale, Ariz., is 3 times higher than in Fontana, Calif.
- The property crime rate in Springfield, Mo., is 7 times higher than in Yonkers, N.Y.
- The number of home care facilities per capita in Garden Grove, Calif., is 94 times higher than in Brownsville, Texas.
For the full report and to see where your city ranks, please visit here.
