California Ranked 17th For The Best Place To Retire
39% Of Americans Expect To Never Be Able To Retire
In aiding retirees to discover secure, pleasant, and cost-effective places to settle, all 50 states across 46 essential metrics, factors like affordability, health-related elements, and overall quality of life were assessed. Here are the highlights from reports, accompanied by expert insights.
Retirement in California (1=Best; 25=Avg.):
Overall Rank for California: 17th
2nd – Life Expectancy
12th – Taxpayer Ranking
36th – Elderly-Friendly Labor Market
36th – Health-Care Facilities per Capita
42nd – Property-Crime Rate
45th – % of Population Aged 65 & Older
47th – Annual Cost of In-Home Services
48th – Adjusted Cost of Living
Retirement Savings Survey Findings:
-Retirement concerns are prevalent, with over 30% of Americans experiencing anxiety about it.
-A significant portion of the population lacks a retirement plan, with over 1 in 3 Americans not having one.
-Confidence in retirement finances is lacking, with 46% of Americans expressing doubt about having enough money for retirement.
-A substantial portion anticipates working indefinitely, as 39% expect to work until they die.
-Prioritizing debt repayment over retirement contributions is a prevailing sentiment, with over 3 in 5 Americans deeming deb repayment more important than retirement savings.
-Retirement occupies the minds of many, with 31% constantly thinking about it.
Retirement heralds a sense of freedom, yet it inherently imposes financial constraints, especially for seniors reliant on fixed incomes. Maximizing your retirement savings entails choosing a state with a favorable cost of living and tax rates for retirees, provided you have the means. Additionally, evaluating factors such as the quality of the state's healthcare system and the availability of activities you enjoy is crucial for a fulfilling retirement experience.
