Place your bets: where is the best place to retire in the US in 2023? Two states take up all 5 of the Top 5 spots and yes, one of them is Florida. The other? I never would have guessed.
A new study from U.S. News & World Report compared the 150 most populated metropolitan areas in the US, including Puerto Rico, to find the “best” place in the country to retire in 2023.
The study contrasted both public data and survey results from 3,100 people across the country, ages 45 and older. It used the following factors in it’s comparisons, weighted as such:
Housing Affordability Index: 24%
Happiness Index: 22%
Health Care Quality Index: 16%
Retiree Taxes Index: 16%
Desirability Index: 13%
Job Market Index: 9%
In the end, a fun and informative countdown of cities was born – the Best Places to Retire in America in 2023. We’ll give you the highlights a little further down.
Retirement in the United States is a significant life milestone for individuals typically around the age of 65. Many Americans rely on a combination of Social Security benefits, personal savings, and employer-sponsored retirement plans, such as 401(k) or pension plans to support themselves during retirement. However, the adequacy of retirement savings remains a concern for many individuals, as rising healthcare costs and longer life expectancies pose challenges. To address these concerns, financial planning and saving for retirement early in one’s career are emphasized to ensure a comfortable and secure retirement in the United States. The cities at the top of U.S. News & World Report’s rankings are considered the current best options in the United States when looking to balance quality of life in retirement and budget, among other factors (listed above).
So here you go! I’ll give you the Top 5 Best Places to Retire in America in 2023, then I’ll let you know how a bunch of cities around New England did and for the heck of it we’ll wrap up with Boston. How do you think it did as an ideal spot for retirement?
