As the baby boomer generation — those born from 1946-1964 — continue to age, an increasingly larger share of the American population is hitting retirement age. In 2015, there were 44.6 million Americans aged 65 and older, representing 14.1% of the population. In 2019, there were 50.8 million people in the age group, representing 15.6% of all Americans.
Many of these older Americans will soon be searching for a place to spend their golden years — places that offer access to health care services and amenities for retirement-age residents, without being too expensive, as many retired Americans live on a fixed income. Fortunately, there is one county in every state that stands out as an ideal place to retire.
To determine the best place to retire in every state, 24/7 Wall St. created an index of 11 different health and economic factors using data from County Health Rankings & Roadmaps, a Robert Wood Johnson Foundation and University of Wisconsin Population Health Institute joint program, as well as the U.S. Census Bureau’s 2019 American Community Survey and the Economic Policy Institute.
Based on current life expectancy and cost of living, the typical retirement for an American costs well over $1 million. This figure, however, can vary widely depending on the state one lives in retirement, from less than $900,000 to $1.5 million. This is what it costs to retire in every state.
Older Americans researching retirement destinations likely hope to find a place where they can maximize their quality of life, including places with easy access to health care and social activities. Certain areas are home to higher concentrations of doctors, nurses, and other health specialists and to higher concentrations of social venues. Both can promote longer and healthy lives. This is the city with the longest life expectancy in every state.