Greater than half of Individuals say they plan to retire at age 65 or older, and three-quarters expect to work after they retire, in line with analysis cited by the private finance web site WalletHub in a latest report.
These findings should not shocking contemplating that solely a fifth of Individuals are extremely assured that they will afford a financially comfy retirement. Most individuals are less confident. A few quarter of Individuals with a retirement plan say they’ve little confidence about their after-work monetary safety or none in any respect, rising to two-thirds of these with no retirement plan.
The place these employees determine to retire may have a giant impact on their retirement prospects, in line with WalletHub analyst Chip Lupo.
The most effective cities for retired individuals decrease taxes and bills and supply alternatives to proceed paid work for further revenue. Retirees within the prime cities can even avail themselves of fantastic well being care and luxuriate in all kinds of actions. The least-amenable cities are missing in lots of of those areas.
To determine the best and worst places for Individuals to reside throughout their post-work years, WalletHub in contrast the retirement friendliness of 182 U.S. cities — together with the 150 most populated ones, plus at the least two of probably the most populated cities in every state — throughout these key dimensions:
- Affordability, together with adjusted value of residing, retired taxpayer friendliness and annual value of grownup day well being care
- Actions, together with recreation friendliness, availability of grownup volunteer actions, and public and municipal golf programs per capita
- High quality of life, together with gentle climate, air and water high quality, stroll rating and power of elder-abuse protections
- Well being care, together with high quality of public hospital system; variety of substance abuse, behavioral dysfunction and psychological well being counselors per 10,000 residents; and loss of life charge of inhabitants 65 and older
Researchers evaluated these dimensions utilizing 45 related metrics and graded each on a 100-point scale, with a rating of 100 representing probably the most favorable circumstances for retirement. They then decided every metropolis’s weighted common throughout all metrics to calculate its general rating. As value is a big think about retirement, researchers assumed that retirees will depend on a hard and fast revenue: The decrease their bills, the higher they’ll fare in a specific metropolis.
See the accompanying gallery for the 12 worst American cities for retirement in 2024.
