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Time of India
4 days ago
- Business
- Time of India
Retirees are flocking to Wyoming, not Florida, census based study finds
A new analysis by online insurance platform BizInsure, based on a decade of US Census Bureau data (2013–2023), reveals that Wyoming has attracted retirees at a faster rate than any other state between 2013 and 2023, defying conventional wisdom that places Florida and Arizona at the top of retirement wish lists. The study, published in June 2025, shows a notable shift in how and where Americans are choosing to spend their post-work lives. Also Read: Why summer arrives when Earth is farthest from the Sun: the Aphelion paradox by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Wyoming has seen the fastest growth in the retiree population in the past decade, followed closely by South Carolina and Idaho. Notably, neither Florida nor Arizona cracked the top 10 for fastest-growing retirement destinations. Live Events The new top 10 retirement states by growth: Wyoming South Carolina Idaho Maine New Mexico Connecticut Hawaii Mississippi Delaware Tennessee Retirees seek nature, not neighbors The findings signal a broader shift in retirement priorities. As Chip Lupo of WalletHub (a website that ranks the best cities and states for retirement) told USA TODAY, 'A generation ago, you just went to Florida. That whole line of thinking has changed dramatically.' The report notes that today's retirees are 'moving to escape,' often opting for fewer neighbors and more nature. States with lower population densities and rich natural landscapes are becoming increasingly attractive, replacing the once-universal appeal of beaches and sunshine. Florida, Arizona still lead in city rankings While Florida and Arizona may have slipped in overall state growth, they remain powerhouses for retirement cities. BizInsure's parallel ranking of the top 10 retirement-friendly cities, based on healthcare, affordability, and amenities, places Peoria, Arizona, at number one. Top 10 retirement cities: Peoria, Arizona North Las Vegas, Nevada Cape Coral, Florida Chandler, Arizona Henderson, Nevada Reno, Nevada Port St. Lucie, Florida Surprise, Arizona Mesa, Arizona Durham, North Carolina Conflicting rankings add nuance A different report by AARP, released in March, offers a contrasting view. Using similar Census data but focusing on people who moved specifically for retirement, AARP ranked Massachusetts as the most popular destination, surprisingly, given its high cost of living. Florida followed at number two. AARP's top retirement states: Massachusetts Florida Illinois Kentucky North Carolina Tennessee Delaware Vermont New Mexico Louisiana Cost factor Affordability remains central to retirement decisions. A GOBankingRates report found that West Virginia is the cheapest state to retire in 2025, requiring an estimated $712,913 in savings and $50,954 in annual expenses. In contrast, retiring in Hawaii could cost over $2.2 million. Cheapest states to retire (2025): West Virginia Mississippi Arkansas Kansas Kentucky Most expensive: Hawaii California Massachusetts New York Connecticut Where retirees live alone A separate report from Caring focused on the best states for seniors who live alone, a growing demographic now representing over a quarter of retirees. States like Arkansas, Missouri, and Kansas scored highest based on healthcare access, safety, and affordability.
USA Today
5 days ago
- Business
- USA Today
Which are the most popular retirement states? Not the ones you think.
Common wisdom suggests older Americans flock to sunny Florida and Arizona to retire. Financial experts urge seniors to consider cheaper retirement states, like Arkansas and Missouri. But where do Americans actually go to retire? Not where you think, according to a new study. Wyoming, home to Grand Teton National Park, has gained retirees at a faster pace than any other state in the past decade, according to a June analysis by BizInsure, the online insurance agency. South Carolina ranks second. Here's the full top 10: Neither Arizona nor Florida ranks among the states with the highest move-in rates for seniors, based on Census data from 2013 to 2023. Retirees are looking beyond Florida and Arizona That analysis and others suggest that older Americans are looking beyond traditional retirement meccas when they choose to relocate after they stop working. 'That whole line of thinking has changed dramatically,' said Chip Lupo, a writer and analyst at WalletHub, a site that ranks best cities and states for retirement. 'A generation ago, you just went to Florida.' According to the BizInsure report, today's retirees are 'moving to escape, chasing locations better known for hiking trails than beaches and bunko nights.' (We had to go to the dictionary on 'bunko.' Turns out it's a dice game.) Their analysis concludes that today's retiree wants 'fewer neighbors and more nature.' Several popular retirement states have populations – and population densities -- below the national average. Some classic retirement states, including Florida, Arizona and Nevada, experienced negative retiree growth between 2013 and 2023, according to the BizInsure report. But those states still have their charms. The analysis includes a list of 10 'best' retirement cities, considering their popularity among retirees, healthcare services and affordability, among other factors. Several of the top cities sit in time-honored retirement states. Peoria, Arizona, a suburb of Phoenix, tops the list of best retirement cities. Here's the full Top 10: Where do seniors move to retire: A second source There are, of course, many ways to slice and dice the data on top retirement destinations. AARP does a regular analysis of destinations for American retirees, also drawing on census figures. Their report looks at people moving to a new state specifically for retirement. The latest report, published in March, yields a very different ranking than the one above, but it's no less surprising. The top retirement destination, according to AARP, is Massachusetts, not a state most of us associate with retirement. Florida, more predictably, ranks second. Here's the full Top 10: Lupo, of WalletHub, said retirees are looking 'way beyond weather' when they retire in another state, weighing such factors as health care quality and the local cost of living index. 'For some, it might be strictly affordability,' said Rudri Patel, a senior financial expert at GOBankingRates. 'For others, it might be green space, weather, property taxes.' Here, from WalletHub, GOBankingRates and other sources, are a few other recent reports on best and worst places to retire. Where are the cheapest retirement states? The cheapest retirement state in 2025 is West Virginia, birthplace of Don Knotts and home to George Washington's bathtub. To retire comfortably in the Mountain State, you'll need an estimated $712,913 in savings and an annual budget of $50,954, according to GOBankingRates. Retirement in America now costs $1 million or more in 15 states, GOBankingRates found. The priciest state is Hawaii: You'll need $2.2 million in savings for a comfortable retirement. GOBankingRates calculated annual living expenses for retirees using data from the federal Bureau of Labor Statistics and local cost-of-living figures. Don't have a million dollars stashed away? Here are a few popular retirement states with lower costs than Hawaii. Which are the best retirement states? WalletHub did a recent ranking of best and worst states for retirement. Their analysis looks at 46 indicators of 'retirement-friendliness,' from tax rates and cost of living to quality medical care. Here are WalletHub's Top 5 states to retire in 2025: The worst retirement state? Kentucky, according to WalletHub. Yes, the same Kentucky that ranks fourth among retirement destinations, according to AARP. And here are WalletHub's Top 5 cities for retirees: What are the best states for seniors living alone? More than one quarter of seniors live alone, according to the Census. Living solo can present unique financial perils. A recent report from the senior care platform ranks the best states for over-65 Americans who live alone. The report assigned a score to each state based on more than a dozen factors, including living costs and health care. Three middle-of-America states, Arkansas, Missouri and Kansas, rank first, second and third in the report. While didn't rank least desirable states for seniors who live alone, the report includes a heat map that gives a good idea of which states a cost-conscious senior might want to avoid, including California and Massachusetts. Yes, the same Massachusetts that ranks as the nation's top retirement destination, according to AARP.
Newsweek
30-05-2025
- Business
- Newsweek
Map Shows Best Cities for Gen Z Graduates
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Gen Z is graduating into an uncertain economic environment. With high tariffs and a possible recession on the horizon, the choice they make in terms of where they live could significantly impact their financial situation. A new report by BizInsure identified the 25 best cities for Gen Z college graduates, based on factors related to tariffs, career growth, and lifestyle. Austin, Texas, took the top spot with San Francisco and Seattle not far behind. Why It Matters Gen Z, born between 1997 and 2012, is entering a turbulent economic outlook as they take their first jobs. According to a Glassdoor report, just 43 percent of Gen Z is optimistic about their employer's business outlook over the next six months. Tariffs, rising prices, and tighter hiring have created concerns across the country. What To Know Austin, Texas, was the top spot for Gen Z graduates to live in 2025, according to BizInsure. Just 2.8 percent of Austin's exports are under retaliatory sanctions, and the city also boasts high job listings (third in the country). Behind Austin, these cities made up the top 10: San Francisco, Seattle, Atlanta, Raleigh, Denver, Dallas, San Jose, Tampa, and Charlotte. The Southern cities ranked high, with Dallas, Houston, and Atlanta scoring 7th, 13th, and 4th, respectively, in the BizInsure report. "Some of these cities attract Gen Z because they're seeking places where they won't be swallowed whole by predatory landlords while trying to pay back crushing and debilitating student debt," Bryan Driscoll, an HR consultant who specializes in generational differences, told Newsweek. "They want affordable housing, genuine work-life balance, and companies that won't ghost them after five interviews." San Francisco, which took the second spot, typically offered high salaries, even for entry-level positions. It also ranked seventh in entertainment offerings, despite scoring 0 out of 10 for rent and overall costs. "Gen Z needs to take full advantage of the tech-driven economic engine that's driving these urban hubs," Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek. Meanwhile, the bottom five cities were all in California, with Fresno at number 98 and Bakersfield at number 99, both located in the San Joaquin Valley. Residents flock to the Austin Food & Wine Festival at Auditorium Shores on November 2, 2024. Residents flock to the Austin Food & Wine Festival at Auditorium Shores on November 2, People Are Saying Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "It may be surprising to some to see cities like Austin and San Francisco topping the list, as recent headlines have focused on the slowing growth of these cities. However, both, along with locations like Seattle and San Jose, offer tech-related positions that are free from the grasps of most of the recently announced tariffs and could be easier to obtain and maintain a new position based on that." Bryan Driscoll, an HR consultant who specializes in generational differences, told Newsweek: "The report is fascinating but also a brutal reminder of what Gen Z and many other generations are up against. Austin topping the list makes sense. It has a relatively affordable tech economy and a community that embraces differences. "But let's not pretend any of these cities are utopias. Most recent grads are still choosing between paying rent or saving anything." Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek: "None of these cities were surprising. They all share one thing: economic growth and strong job prospects, especially in tech. "Professionally, these cities offer a chance to connect with like-minded, eclectic individuals and be part of a vibrant, fast-paced environment. But long term, many in Gen Z may find themselves wanting to slow down, moving to the suburbs or smaller communities as priorities shift." What Happens Next Cost-of-living factors could still make some cities more financially burdensome for Gen Zers, depending on their income. "Gen Z will have to factor in the cost of living for some of these cities, which certainly can be a dealbreaker unless their career choice pays enough to cover rising expenses," Beene said. "For this reason, more affordable cities in the Southeastern United States like Atlanta and Nashville could offer the best balance of career choices and better costs."
