(Related: 12 Best States for Retirement: 2018)
A survey of American workers earlier this year showed that two in three were at least somewhat confident they would have enough money to retire comfortably, but only 17% said they were very confident they would be able to do so.
For some workers, their only option is to continue working. Indeed, Gallup polling shows that workers this year plan to retire at age 66 on average, compared with age 60 in 1995.
Are there any alternatives to remaining in the workforce? One is to relocate to an area where the dollar will go farther without sacrificing lifestyle, according to WalletHub.
In order to identify the best (and worst) places for Americans to spend their retirement years in comfort, WalletHub compared the retirement friendliness of 182 U.S. cities — including the 150 most populated ones — across four key dimensions: affordability, activities, quality of life and health care.
It evaluated those dimensions using 46 relevant metrics, grading each on a 100-point scale, with a score of 100 representing the most favorable conditions for retirement. A city’s overall score was a weighted average across all metrics.
These cities were no. 1 in each dimension:
- Affordability — Laredo, Texas
- Activities — Washington, D.C.
- Quality of life — Henderson, Nevada
- Health care — South Burlington, Vermont
Have a look at the gallery of the top 20 cities ranked by their overall score.
— Check out 12 Worst States for Retirement: 2018 on ThinkAdvisor.