Retiring on your own terms is becoming a luxury these days. Factors such as inadequate savings, stagnant wages, and rising living expenses are leaving millions of Americans woefully unprepared for their so-called golden years. Making matters worse, some cities erode your retirement experience faster than others.
The importance of location is not restricted to home purchases. A new study by WalletHub analyzes America’s 150 largest cities to identify the best and worst locations for retirees. Each city is examined across five dimensions, including affordability, jobs, activities, quality of life, and healthcare. WalletHub then identifies 25 metrics that are relevant to those dimensions, ranging from availability of recreational activities to job prospects for workers aged 65 and older.
The highest ranking cities are mostly found in the South. For example, Tampa, Florida was considered to be the best city in the United States for retirees, followed by Grand Prairie, Texas; Orlando, Florida; and St. Petersburg, Florida. Scottsdale, Arizona came in fifth. Other Florida cities such as Port St. Lucie and Cape Coral also help round out the top 10.
Let’s take a look at the top 10 cities that retirees might want to avoid.