Massachusetts Residents Retire At an Older Age Than In All But One State

Retirement is a time to finally relax, a time to focus on yourself and your hobbies, a time to travel, a time to enjoy. Whatever that means to you. The average U.S. retirement age is 63 years old according to a MoneyTalksNews / U.S. Census Bureau American Community Survey. The retirement age in the US is down from 65 years-old. 63 is still on the high side globally as in some European countries like France and Germany, it's lower, typically around 60 years old.

So how about state by state? What states have the highest retirement age and which have the lowest? The previously mentioned MoneyTalksNews / U.S. Census Bureau American Community Survey looked at just that and determined the average retirement age in each state and in DC. And they discovered that only one state's residents have an older average retirement age than us here in Massachusetts.

Residents of Washington DC stand alone as having the highest average retirement age at 67 years old. Massachusetts residents are tied for second oldest average retirement age at 66 years old. South Dakota residents are tied with Massachusetts at second. Residents in Alaska and West Virginia have the youngest average retirement age at 61.

A new study from U.S. News & World Report compared the 150 most populated metropolitan areas in the US, including Puerto Rico, to find the “best” place in the country to retire in 2023.

The study contrasted both public data and survey results from 3,100 people across the country, ages 45 and older. It used the following factors in it’s comparisons, weighted as such:

Housing Affordability Index: 24%
Happiness Index: 22%
Health Care Quality Index: 16%
Retiree Taxes Index: 16%
Desirability Index: 13%
Job Market Index: 9%

In the end, a fun and informative countdown of cities was born – the Best Places to Retire in America in 2023. We’ll give you the highlights a little further down.

Place your bets: where is the best place to retire in the US in 2023? Two states take up all 5 of the Top 5 spots and yes, one of them is Florida. The other? I never would have guessed.

A new study from U.S. News & World Report compared the 150 most populated metropolitan areas in the US, including Puerto Rico, to find the “best” place in the country to retire in 2023.

The study contrasted both public data and survey results from 3,100 people across the country, ages 45 and older. It used the following factors in it's comparisons, weighted as such:

Housing Affordability Index: 24%
Happiness Index: 22%
Health Care Quality Index: 16%
Retiree Taxes Index: 16%
Desirability Index: 13%
Job Market Index: 9%

In the end, a fun and informative countdown of cities was born - the Best Places to Retire in America in 2023. We'll give you the highlights a little further down.

Retirement in the United States is a significant life milestone for individuals typically around the age of 65. Many Americans rely on a combination of Social Security benefits, personal savings, and employer-sponsored retirement plans, such as 401(k) or pension plans to support themselves during retirement. However, the adequacy of retirement savings remains a concern for many individuals, as rising healthcare costs and longer life expectancies pose challenges. To address these concerns, financial planning and saving for retirement early in one's career are emphasized to ensure a comfortable and secure retirement in the United States. The cities at the top of U.S. News & World Report's rankings are considered the current best options in the United States when looking to balance quality of life in retirement and budget, among other factors (listed above).

So here you go! I'll give you the Top 5 Best Places to Retire in America in 2023, then I'll let you know how a bunch of cities around New England did and for the heck of it we'll wrap up with Boston. How do you think it did as an ideal spot for retirement?

YORK, PENNSYLVANIA
Rank: #5
Overall Score: 7.2
https://www.youtube.com/watch?v=uH_w1qjB_Mg

TAMPA, FLORIDA
Rank: #4
Overall Score: 7.2
https://www.youtube.com/watch?v=Mo3ypsNpcYI

PENSACOLA, FLORIDA
Rank: #3
Overall Score: 7.2
https://www.youtube.com/watch?v=CR37nDA2liM

HARRISBURG, PENNSYLVANIA
Rank: #2
Overall Score: 7.2
https://www.youtube.com/watch?v=UP8iUDzTFsc

LANCASTER, PENNSYLVANIA
Rank: #1
Overall Score: 7.2
https://www.youtube.com/watch?v=zYwq9_J7yYM

Rank: #47
Overall Score: 6.9
https://www.youtube.com/watch?v=h5KbDJ0rM7I

Rank: #32
Overall Score: 7.0
https://www.youtube.com/watch?v=HzqHA-TJdac

Rank: #18
Overall Score: 7.1
https://www.youtube.com/watch?v=I9MGYlVfFKI

Rank: #66
Overall Score: 6.8
https://www.youtube.com/watch?v=a7GPZvh1wCM

Rank: #33
Overall Score: 7.0
https://www.youtube.com/watch?v=D-lTgPagtNo

Rank: #37
Overall Score: 7.0
https://www.youtube.com/watch?v=PLfDhLYOjYQ

Rank: #76
Overall Score: 6.8
https://www.youtube.com/watch?v=c2Jlv-M5mnY