Retirement Red Flags: Cities to Stay Away From

Beverly Hills, California

How glamorous! It may not surprise you that this city is also one of the worst places to retire in the whole US. Home values here pass $6 million, and you must own some explosive retirement funds to afford this city. Going further with the calculations, annual expenses are running around $260,000 annually in this celebrity-filled city.

Bridgeport, Connecticut

Even if Bridgeport has the benefit of a good healthcare system, it’s not a city that’s necessarily retirement-friendly. It’s known for high expenses and it doesn’t have too much social activity for older folks. More to mention is that Connecticut residents currently pay the highest taxes in the country.

Kahului, Hawaii

This city, located in Hawaii, has the second-highest tax income in the country. It’s a gorgeous city, but moving here for retirement may not be the best idea. You won’t really have a sense of belonging considering that only 18% of the population here is over 65 and the cost of the average home is over $920,000.

In your retirement years, probably what you need the least are high home costs and higher taxes on your retirement income, so you need to carefully choose the way you retire.

However, you probably found out about some Social Security benefits that Hawaii offers, but with some simple math, it is easy to spot that they are not going to be enough to sustain you in Kahulu.