24/7 Insights
- According to a recent analysis, the most popular destination for retiring baby boomers is Goodyear, Arizona.
According to the Census Bureau, by 2030, all baby boomers will be over 65 years old. More than 70 million Americans fall into this age group.
John Haaga, of the National Institute on Aging in Washington, D.C., recently said about the Census data on boomers: “It’s our only way to figure out how things are different across the country, what areas are aging faster, where elderly disabled people live, or where older people are concentrated,” As would be expected, many of these aging Americans are moving to Florida. However, the most popular destination is Goodyear, Ariz., located west of Phoenix.
A new study by GoBankingRates examined 2017, 2021, and 2022 Census data. To make the cutoff, a city had to have at least 7,500 residents. The primary metrics were the percentage gain of people over 65 during the past five years, the one-year percentage gain from 2021 to 2022, and the percentage of the entire population over 65. The Goodyear metric on the first measurement was 61%, on the second 11%, and on the third 18%.
Sugarland, Texas, Claremont, Fla., and El Dorado Hills, Calif., followed Goodyear. (One challenge for people in any city is that the retirement plans of Americans are crumbling.)
According to the Census Bureau, Goodyear’s household income is 96,522, which is unusually high compared to the national figure. The poverty level, at 4.6%, is unusually low. Fifty-four percent of the population is white, while 33% is Hispanic.
∴
ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
