Detroit among worst cities to retire, according to WalletHub. Here's why.
(CBS DETROIT) - Detroit has ranked as one of the top five worst cities to retire in, according to a recent WalletHub report.
Many workers don't feel confident they will have enough money to retire, so WalletHub, a personal finance website, released a report on which areas are among the best places to retire comfortably.
More than 180 cities across the United States were compared across several different 45 key factors to determine the rankings regarding the areas of affordability, quality of life, health care, recreational activities and more.
The following are the top five cities to retire, according to WalletHub:
- Tampa, FL
- Scottsdale, AZ
- Fort Lauderdale, FL
- Orlando, FL
- Miami, FL
The five worst retirement cities include:
- Stockton, CA
- Newark, NJ
- Bakersfield, CA
- San Bernardino, CA
- Detroit, MI
Here's how Detroit ranked according to the "retirement-friendliness" of the city:
- 88th - Adjusted Cost of Living
- 113th - Annual Cost of In-Home Services
- 181st - % of Employed Population Aged 65 & Older
- 67th - Recreation & Senior Centers per Capita
- 102nd - Adult Volunteer Activities per Capita
- 67th - % of 65 & Older Population
- 112th - 'Mild Weather' Ranking
- 81st - Museums per Capita
To view the full study and see how other cities ranked, visit here.
In addition, while were on the topic, Americans say they will need $1 million to retire comfortably, and here's an article about how how people can reach that goal, according to researchers.
