Additional Coverage:
- The 15 Worst U.S. Cities for Retirement (Who Would Retire to #6?) (financebuzz.com)
15 Cities to Scratch Off Your Retirement List
Looking forward to retirement? You’ve probably seen countless articles touting the best cities for retirees, focusing on low taxes, great healthcare, and fun activities.
But what about the places you should avoid? Not all cities are created equal, and some fall short when it comes to offering a comfortable and fulfilling retirement.
Here are 15 cities that might be great for some, but not for retirees.
1. Beverly Hills, California: Glamour and glitz come at a price. With a median home sale price in the millions, Beverly Hills is more likely to drain your retirement fund than provide a relaxing retirement.
2. Bridgeport, Connecticut: While Bridgeport boasts a good healthcare system, its high cost of living, limited retiree-focused activities, and Connecticut’s hefty tax burden make it a less-than-ideal retirement destination.
3. Kahului, Hawaii: Hawaii’s stunning beauty can’t mask its high taxes and expensive housing. In Kahului, the median home price soars above $900,000, making it a difficult place to retire comfortably.
4. Newark, New Jersey: Newark struggles with a poor hospital system, a lack of retirement-friendly activities, and a high cost of living. Its proximity to New York City and a major airport are its only real advantages for retirees.
5. San Bernardino, California: Even with a lower cost of living compared to other Southern California cities, San Bernardino lacks a top-tier healthcare system and vibrant retiree community, making it a less appealing choice for retirement.
6. Detroit, Michigan: While Michigan offers a low cost of living and low taxes, Detroit’s poor healthcare system and low quality of life should give retirees pause.
7. Vancouver, Washington: Despite the absence of income tax, Vancouver’s high housing costs, traffic, dreary weather, and average healthcare system make it a less desirable retirement spot.
8. Baltimore, Maryland: High housing and grocery costs, combined with Maryland’s high tax burden, make Baltimore a challenging place for retirees, despite access to renowned medical systems like Johns Hopkins.
9. Wichita, Kansas: Wichita’s affordable housing and lower-than-average cost of living are offset by its poorly ranked healthcare system and limited activities for retirees.
10. Rancho Cucamonga, California: High income taxes, expensive housing, and a lack of retiree-friendly amenities land Rancho Cucamonga on the list of cities to avoid for retirement.
11. Lubbock, Texas: While Texas boasts no income tax and Lubbock offers a lower-than-average cost of living, the city’s poor quality of life and subpar healthcare system make it less appealing for retirees.
12. Lynnwood, Washington: Lynnwood’s beautiful scenery can’t compensate for its high cost of living, expensive housing, and small percentage of older residents.
13. Wilmette, Illinois: This charming Chicago suburb comes with a hefty price tag. Sky-high housing costs and some of the highest property taxes in the country make Wilmette less than ideal for retirees.
14. Miami, Florida: While popular with snowbirds, Miami’s high housing costs can strain retirement budgets, even with the benefit of no state income tax.
15. Brookline, Massachusetts: Dreaming of a New England retirement? Brookline’s average home price topping $1.2 million and Massachusetts’ high tax burden make it a tough sell for retirees.
The Importance of Personal Connections
While these factors offer an objective look at retirement destinations, remember that personal connections matter. Proximity to family and lifelong friends can outweigh financial considerations, making a less-than-perfect city the right place for your golden years.
Bonus Tip: No matter where you retire, focusing on paying off debt, earning extra income, and cutting expenses can improve your financial well-being.
Read More About This Story:
- The 15 Worst U.S. Cities for Retirement (Who Would Retire to #6?) (financebuzz.com)