When it comes to deciding where to retire, multiple factors come into play. For many non-retired adults, financial stability is one of the biggest considerations when choosing a place to retire, while safety, health care, weather and access to leisurely activities are all also concerns for a comfortable and confident retirement.
Unfortunately, only one in five Americans feel “very confident” about their ability to have enough money to live comfortably throughout their retirement years, according to a recent survey by the Employee Benefit Research Institute. Therefore, many Americans are sacrificing desired luxuries such as mild weather, scenic landscapes and retiree-friendly activities for more affordable destinations when it comes to deciding where to retire.
To help Americans choose a retirement destination where they can live comfortably without having to worry about their savings, WalletHub compared more than 180 U.S. cities across 45 key indicators of retirement-friendliness, including affordability, health care and overall quality of life.
Five cities in Arizona rank among the best places to retire in the U.S., according to WalletHub’s analysis. Scottsdale seems to be the most retirement-friendly city in Arizona at No. 2, while Tempe ranked at No. 16, Tucson at No. 42, Chandler at No. 45 and Phoenix at No. 47.
For individuals looking to relocate when they retire, Kathy Black, Professor of Aging Studies at University of South Florida says: “Beyond costs of living, other top factors when choosing a state for retirement include aspects of the built, social and service environment. This includes, for example, physical walkability and availability of transportation options, inclusive and affordable opportunities to participate in social, recreational and other desired activities, and access to quality health care.”
See WalletHub’s rankings of the “Best and Worst Places to Retire” here.