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WalletHub: Tampa Ranks as Best Retirement City

By    |   Wednesday, 03 September 2014 02:08 PM

Tampa, Fla., rates as the top city for retirement in a survey of the biggest 150 cities by WalletHub, a personal finance website, while Providence, R.I., places last.

The ratings were based on 25 metrics grouped in five categories: affordability, jobs, activities, quality of life and healthcare.

Rounding out the top five cities after Tampa are Grand Prairie, Texas; Orlando, Fla.; St. Petersburg, Fla.; and Scottsdale, Ariz. Rounding out the bottom five before Providence are Newark, N.J.; Philadelphia; New York; and Chicago.

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New Warning - Stocks on Verge of Major Collapse

Nashville, Tenn., has the lowest adjusted cost of living, and New York has the highest. Brownsville, Texas, has the lowest cost of in-home services, and Madison, Wis., has the highest.

Baton Rouge, La., has the most recreation and senior centers per capita, and Albuquerque, N.M., the least.

Glendale, Calif., has the most mild weather ranking, and Buffalo, N.Y., the least.

Scottsdale has the highest percentage of population aged 65 or older, while Fontana, Calif., has the lowest.

Meanwhile, CNBC.com offers five ways to enhance your financial situation for retirement.

1. "Capture savings opportunities." If you have children, you generally are free of financial responsibility for them at some point in your 50s. Take advantage of that extra cash to save for retirement.

2. "Aim to max out your 401k, IRA and other tax-advantaged accounts." Workers 50 and up can contribute extra to their 401k accounts in an IRA. So do it if you can.

3. "Hang on to your job just a little longer." The longer you put off retirement, the more wealth you can accumulate by the time you get there.

4. "Strategize Social Security." The rule of thumb is that the longer you wait to collect on Social Security, the better, because that allows time for your benefits to build up. But if you need money soon, you may not have a choice.

5. "Curtail expenses." It always bears repeating that the less you spend, the more you can save.

Editor’s Note: New Warning - Stocks on Verge of Major Collapse

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Tampa, Fla., rates as the top city for retirement in a survey of the biggest 150 cities by WalletHub, a personal finance website, while Providence, R.I., places last.
Tampa, Fla, retire, city
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2014-08-03
Wednesday, 03 September 2014 02:08 PM
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