Everyone who works often yearns for the time of their lives when they can kick back and enjoy retirement. Unfortunately, the 2018 Retirement Confidence Survey conducted by the Employee Benefit Research Institute found that just two-thirds of those prospective retirees are “somewhat confident” they will have enough to live well once they stop working.
However, according to a WalletHub study that compared the retiree-friendliness of more than 180 cities across 46 key metrics, Orlando, Florida, tops the list of cities where Americans can look forward to a stress-free retirement.
To determine the best cities for retirements WalletHub studied various metrics including the cost of living, retired taxpayer-friendliness, health care availability, quality of life, and availability of recreational activities.
With a total score of 60.09, Orlando, Florida topped the overall list followed by Scottsdale, Arizona which had a score of 59.36. Tampa, Florida (58.48); Denver, Colorado (58.34); and Fort Lauderdale, Florida (57.83) rounded off the top five cities for retirement.
With a total score of 57.20, Charleston, South Carolina was ranked sixth followed by Miami, Florida (56.50); Austin, Texas (55.78); Cape Coral, Florida (55.48); and Tempe, Arizona (55.28).
The survey also determined which cities had the lowest and highest adjusted costs of living. Those with the lowest costs of living were Laredo, Texas; Huntington, West Virginia; Knoxville, Tennessee; Memphis, Tennessee; and Fort Smith, Arkansas. At the other end, those metropolises with the highest adjusted costs of living were Honolulu, Hawaii; Pearl City, Hawaii; New York, New York; and San Jose, Fremont, and San Francisco, in California.
On the quality of life question, the survey helped delineate which cities would offer the best via the listing of cities with the Most & Fewest Recreation & Senior Centers per Capita, the Most & Fewest Fishing Facilities per Capita; the Most and Fewest Museums per Capita; and the Best & Worst ‘Mild Weather’ Rankings.
The 10 cities comprising the bottom of the list and are therefore considered the worst ones to retire in included Fresno, California; Modesto, California; Jersey City, New Jersey; Bakersfield, California; Providence, Rhode Island; Stockton, California; Baltimore, Maryland; Warwick, Rhode Island; Bridgeport, Connecticut; and Newark, New Jersey.
To read the full list of the best cities to retire, click here.