Winston-Salem, N.C., is the 113th-best place to retire, according to a new WalletHub study comparing more than 180 U.S. cities across 45 key metrics. The analysis considered factors ranging from the cost of living and tax laws to the availability of activities and the quality of healthcare.
Figuring out the right place to retire is important because financial security in retirement is far from guaranteed. Only 21% of workers are very confident they'll have enough money to retire comfortably, and nearly three-quarters expect to continue working in some capacity after they retire.
“It's important to choose wisely when picking where to retire, as many retirees are on a fixed income. The best cities help retirees stretch that income further with low taxes, a low cost of living, and opportunities for continued part-time work,” said WalletHub analyst Chip Lupo. “Seniors deserve to live out their golden years in a place that delivers high-quality healthcare, has a clean and walkable cityscape, and provides an abundance of activities that can help seniors make friends and enjoy their retirement to the fullest.”
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In-Depth Look at Winston-Salem
Winston-Salem is a pretty affordable place to retire, with the fifth-cheapest homemaker services of any city in the study and the 18th-most nurses per capita, giving seniors better access to individualized care. In addition, North Carolina doesn't charge an estate or inheritance tax, so it's a good place for seniors who want to leave their children a big nest egg.
However, Winston-Salem has room for improvement in other areas. For example, the city has the seventh-worst walk score, which indicates that it's difficult for retirees to get around without a car. It also has the seventh-fewest mental health counselors per capita, which is unfortunate for seniors facing loneliness or depression.
How Winston-Salem Ranks in Key Categories
- 27th for affordability
- 153rd for activities
- 107th for quality of life
- 135th for healthcare
Overall, this puts Winston-Salem in 113th place out of the 182 cities in WalletHub's study.
Best Cities for Retirement
Overall Rank | City | Total Score | Affordability Rank | Activities Rank | Quality of Life Rank | Healthcare Rank |
|---|---|---|---|---|---|---|
1 | Orlando, FL | 63.38 | 2 | 17 | 77 | 11 |
2 | Miami, FL | 59.40 | 54 | 6 | 91 | 29 |
3 | Tampa, FL | 59.29 | 41 | 10 | 34 | 89 |
4 | Scottsdale, AZ | 58.87 | 114 | 18 | 1 | 35 |
5 | Casper, WY | 58.79 | 3 | 63 | 23 | 65 |
6 | Atlanta, GA | 58.73 | 56 | 4 | 96 | 52 |
7 | Minneapolis, MN | 57.92 | 97 | 8 | 89 | 20 |
8 | Fort Lauderdale, FL | 57.92 | 75 | 13 | 64 | 41 |
9 | Charleston, SC | 57.54 | 29 | 26 | 79 | 59 |
10 | Pittsburgh, PA | 56.58 | 112 | 21 | 57 | 7 |
The methodology can be found on the full version of the article on WalletHub.
