Only three in 10 American workers feel firmly confident they will have enough money to retire comfortably, according to research by the Employee Benefit Research Institute. Many people approaching retirement think their only option is to continue working. Gallup reports that workers in 2020 planned to retire at age 66 on average, six years later than in 1995.
In a new report, WalletHub suggests that an alternative is to relocate to an area where one's dollar goes further without sacrificing lifestyle. At the same time, the personal finance website acknowledges that retirees want more than just an inexpensive place to live; they want to feel safe and have access to good health care, among other considerations.
The ideal city, WalletHub says, will offer many ways to spend leisure time and have good weather.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
