After putting in decades of hard work, we naturally expect to have financial security in our golden years as we look for the best places to retire. But not all Americans can look forward to a relaxing retirement. According to the Employee Benefit Research Institute’s 2023 Retirement Confidence Survey, 64% of workers reported feeling at least somewhat confident that they will have enough money to retire comfortably, but only 27% said they were “very confident.”
LEARN MORE: 7 Metro Phoenix cities among Top 100 places where retirees are moving in 2023
If so many American workers are worried about their financial future, what other options provide a pathway to a comfortable retirement? For some, the only solution is to keep working. According to Gallup polling, workers in 2022 planned to retire at age 66 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle.
Retirement isn’t all about the money, though. Retirees want to live in a place where they enjoy safety and access to good healthcare, especially in the wake of the COVID-19 pandemic. The ideal city will also have lots of ways to spend leisure time, along with good weather.
To help Americans plan an affordable retirement while maintaining the best quality of life, WalletHub compared the retiree-friendliness of more than 180 U.S. cities across 45 key metrics. Our data set ranges from the cost of living to retired taxpayer-friendliness to the state’s health infrastructure. Five Arizona cities rank among the 50 best places to retire, according to the WalletHub analysis.
• Scottsdale (ranked No. 2)
• Tempe (ranked No. 16)
• Tucson (ranked No. 42)
• Chandler (ranked No. 45)
• Phoenix (ranked No. 47)
If you’re considering retiring out of state, make sure to check out WalletHub’s “Best & Worst States to Retire” ranking, too.
