Broker Check

The 10 best — and Worst — Places to Retire

July 02, 2018

The majority of Americans won’t move elsewhere for their retirement. But some places are better to stay in than others. Miami?

For most aging Americans, there is no place like home.

Sure, some people plan to spend their retirement in a new country, or even at sea.

The vast majority of Americans, though, plan to age in place.

Three-quarters of those who are ages 50 to 64 say they want to spend their golden years in the same spot they spent their previous years. And that share swells to 87 percent for those 65 and older.

Staying put in some places is going to better for your retirement than in other places, though.

A new ranking by Magnify Money, a financial comparison website, analyzes which cities offer the most (and least) resources to those in their later decades.

The listing factored in volunteer rates, chances for physical activity, cost of living, medical quality and even a location’s availability of assisted care options.

“Senior citizens don’t fare very well,” in New York City, it says, but Portland, Oregon, is “highly desirable” for retirees.

Around 6 percent of Portland’s population ages 65 and older moved there from somewhere else in 2016, according to the report.

The city also scored an 83 percent activity rate. Housing expenses come in at around $1,236 a month, and costs for goods and services are below the nation’s average.

In Salt Lake City, more than 40 percent of people over age 55 volunteer. And the city has the lowest rate of preventable hospital stays.

n New York City, volunteering is rare and the cost of living is exorbitant.

Meanwhile, in Houston, there’s fewer than one nursing service provider for every 100,000 residents.

And Medicare recipients in Miami are paying some of the highest rates.

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