Long Beach 7th Best Place to Retire
Deciding you’re ready to retire is easy; deciding where is the hard part. You’re likely considering affordability to get the most out of your retirement savings, but also somewhere with warm weather and relaxing activities. SmartAsset, a company dedicated to using software and data to assist people with financial questions, used these and other concerns to determine the best places for a relaxing retirement.
Fortunately for Long Beach residents, the city made the list of the top 10 places to retire in the United States!
Long Beach earned seventh best city for retirement. Results show that though Long Beach is on the expensive side, with median monthly housing costs around $1,200 on average and the average effective tax rate at about 15 percent, you will catch a break on healthcare costs, with average monthly costs to be about $548. That’s the 21st-lowest in the country. You’ll also have easy access to healthcare and personal care establishments.
In order to conduct their study, SmartAsset gathered data on nine factors: average effective tax rate, healthcare costs, the percentage of population ages 65 and over, the crime rate per 100,000 residents, the number of warm days, the number of personal care service establishments per 100,000 residents, the number of medical care establishments per 10,000 residents, the number of museums and historical sites per 100,000 residents and median housing costs.
They ranked all cities by each of these metrics, giving double weighting to tax rate, crime rate and personal care establishments. All other factors received a single weighting. They then averaged those rankings and applied a score based on the averages.
The data suggests that if you want a relaxing retirement, California and Florida are the places to go, claiming eight of the top 10 cities. It also shows that quite a few of the top cities are located very close to beaches and the average population is about 228,000.
The list of the top 10 cities to retire in is as follows: Pembroke Pines, Florida; Hialeah, Florida; Cape Coral, Florida; Glendale, California; Chula Vista, California; Pasadena, Texas; Long Beach, California; Huntington Beach, California; Fort Lauderdale, Florida; and Henderson, Nevada.