As we approach retirement, financial security becomes a top concern. However, a significant number of Americans don't feel entirely confident about their retirement savings. According to a recent survey, only 27% of workers are very confident that they'll have enough money to retire comfortably.
With this uncertainty, some people are choosing to continue working longer than previous generations. On average, workers today plan to retire at age 66, compared to age 60 in 1995. Another option gaining popularity is relocating to places where your retirement savings can go further without compromising your lifestyle.
But retirement isn't just about finances. Safety, access to healthcare, leisure opportunities, and good weather are also essential. To help retirees make informed decisions, WalletHub assessed over 180 U.S. cities based on 45 key factors, including cost of living, healthcare, and overall retiree-friendliness. If you're considering retiring out of state, you can also explore WalletHub's "Best & Worst States to Retire" ranking.
Are you curious to find out which Maryland city has earned the title of the worst city to retire in?
It turns out that Baltimore has been named the worst city to retire in.
Which factors led Baltimore to take the worst spot? Listed below are the key points discussed in the article
Here's how Baltimore ranks in terms of retirement-friendliness (1=Best; 91=Avg.):
- Adjusted Cost of Living: 99th
- Annual Cost of In-Home Services: 67th
- Percentage of Employed Population Aged 65 & Older: 112th
- Adult Volunteer Activities per Capita: 61st
- Percentage of 65 & Older Population: 67th
- 'Mild Weather' Ranking: 161st
Share your thoughts
What are your thoughts on Baltimore's retirement-friendliness rankings? Do you think there are areas where the city can improve to become a better place for retirees? Share your insights and ideas with us!
Disclaimer: Please note that the views expressed in this article are based on third-party sources. The purpose of this article is only to provide educational and informational content.