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Report: Miami ranks in top-three best cities for retirees

by Kelly McCabe

Miami is the third-best city in the country for retirees, according to a new report from WalletHub. In fact, the top three cities are all in Florida, with Orlando at the top and Tampa in the No. 2 spot.

The study, Best & Worst Places to Retire, looked at 40 key metrics in the 150 largest U.S. cities. Miami had a total score of 57.97, ranking at No. 36 for affordability, No. 4 for activities, No. 117 for quality of life and No. 29 for health care.

The 2010 U.S. Census found that 14.1 percent of Miami’s population are aged 65 and older. People are attracted to the city because of low taxes, warm weather, seemingly endless recreation opportunities and its rich culture. In fact, the study found that Miami has 40 home health care facilities per 100,000 residents in the country, making it an ideal city for retirees who live independently.

As many people’s retirement funds are suffering and pensions dwindling, many are seeking ways to have the best retirement possible. According to the Employee Benefit Research Institute’s 2017 Retirement Confidence Survey, only 18 percent of U.S. workers have a high level of confidence that they’ll have enough money to retire comfortably and nearly four in 10 have little to no retirement savings.

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