With the hope that everyone can retire one day, your total retirement income will dictate what you can spend monthly during your retirement years. To find the sum of all your income you expect to use during retirement, including total retirement income, you will want to include any pensions, social security, dividends, wages, rental income, annuities, 401K, and more.
As you plan for retirement, any good retirement advisor will explain how your retirement income can help you live. Another consideration is where you live, which can greatly influence your monthly costs. Thankfully, SmartAsset.com has done some homework and compiled a list of the top 20 cities in descending order where your total retirement income will be the highest.
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20. Sunnyvale, California
- Total Retirement Income: $69,361
- Social Security Income: $26,280
- Retirement Account Income: $43,081
Excellent schools, healthcare, and family living help define Sunnyvale, California. Sunnyvale offers no shortage of beautiful weather and activities for retirees who can afford the area.
19. Springfield, Illinois
- Total Retirement Income: $69,730
- Social Security Income: $23,812
- Retirement Account Income: $45,918
With a population of 114,200, Springfield, the capital of Illinois, is a great place to retire. Over 19% of the population is 65 and over, which speaks to the lengthy list of things to do, see, and eat as a retiree.
18. Bend, Oregon
- Total Retirement Income: $69,872
- Social Security Income: $25,209
- Retirement Account Income: $44,663
While Bend, Oregon, offers high home prices, it remains a strong retirement option thanks to its outdoor beauty. That’s why 17% of the city’s population is aged 65 and over.
17. Sugar Land, Texas
- Total Retirement Income: $69,904
- Social Security Income: $27,725
- Retirement Account Income: $42,179
Widely considered one of the best suburbs in Texas, Sugar Land has long been praised for its low crime rate and even lower cost of living. Best of all, no state income tax exists, and tax exemptions exist for anyone 65 and over.
16. San Mateo, California
- Total Retirement Income: $69,936
- Social Security Income: $24,658
- Retirement Account Income: $45,278
One of the best areas to live in California, San Mateo offers everything from great schools to excellent healthcare and a rising population of 65 and older.
15. Torrance, California
- Total Retirement Income: $70,027
- Social Security Income: $23,448
- Retirement Account Income: $46,579
With over 18% of its residents aged 65 and older, Torrance, California, continues to grow in popularity among retirees. Great weather year-round is complemented by a near-endless number of outdoor activities.
14. Anchorage, Alaska
- Total Retirement Income: $70,461
- Social Security Income: $21,918
- Retirement Account Income: $48,543
The climate won’t be for everyone, but for anyone looking for more quiet, Anchorage, Alaska, is a can’t-miss retirement destination. This is especially true if being outdoors matters above all else.
13. Columbia, Maryland
- Total Retirement Income: $71,189
- Social Security Income: $24,348
- Retirement Account Income: $46,841
Highly ranked for its strong quality of life, Columbia, Maryland, has over 170 playgrounds for retirees to take young grandchildren to, plus a thriving outdoor and nightlife scene.
12. Ann Arbor, Michigan
- Total Retirement Income: $72,108
- Social Security Income: $30,428
- Retirement Account Income: $41,680
Ann Arbor, Michigan, is the number one city regarding Social Security income and ranks among the top 20 cities in total retirement income. The urban feel offers a nearly endless supply of things to do both indoors and outdoors.
11. Irvine, California
- Total Retirement Income: $72,458
- Social Security Income: $24,960
- Retirement Account Income: $47,498
While it isn’t inexpensive, Irvine, California, offers the best location in Orange County. Only 10% of residents are 65 and over, which grows with every new population report.
10. Thousand Oaks, California
- Total Retirement Income: $73,634
- Social Security Income: $25,538
- Retirement Account Income: $48,096
With over 20% of its population aged 65 and over, Thousand Oaks, California, has grown considerably as a retirement destination. The combination of outdoor parks and trails, plus proximity to Los Angeles, makes it an ideal location.
9. Carlsbad, California
- Total Retirement Income: $74,345
- Social Security Income: $25,538
- Retirement Account Income: $49,515
Widely considered an area with some of the best public schools, Carlsbad, California, is just as good for retirees. The emphasis on families introduces lots of activities and excellent healthcare.
8. Washington, District of Columbia
- Total Retirement Income: $75,088
- Social Security Income: $20,822
- Retirement Account Income: $54,266
The Washington D.C. area offers many great reasons to retire nearby, including the city’s varied attractions, four seasons, and some of the country’s best cultural activities.
7. Naperville, Illinois
- Total Retirement Income: $75,245
- Social Security Income: $26,983
- Retirement Account Income: $48,262
With around 16% of residents aged 65 and older, Naperville, Illinois, is one of the best places to retire in Illinois. It’s rated high for families, housing, health, and fitness, and is close to Chicago.
6. Highlands Ranch, Colorado
- Total Retirement Income: $77,458
- Social Security Income: $27,433
- Retirement Account Income: $50,025
Located outside Denver, Highlands Ranch offers 26 parks, 70 miles of trails, museums, performing arts, and a tight-knight community residents quickly fall for.
5. Alexandria, Virginia
- Total Retirement Income: $77,952
- Social Security Income: $26,543
- Retirement Account Income: $51,409
Another area with outstanding healthcare and walkable neighborhoods, it’s unsurprising that Alexandria, Virginia, is high on any list of places to retire.
4. Berkeley, California
- Total Retirement Income: $78,949
- Social Security Income: $23,632
- Retirement Account Income: $55,317
Berkeley, California, is one of the healthiest cities in the US, and around 15% of its population is 65 and over. While it has a high cost of living, it also offers one of the most diverse sets of retiree attractions and activities on this list.
3. The Woodlands, Texas
- Total Retirement Income: $79,539
- Social Security Income: $27,661
- Retirement Account Income: $51,878
An upscale suburban area, The Woodlands in Texas offers residents top-tier amenities like shopping, dining, and more outdoor activities than they could ever hope for.
2. Cambridge, Massachusetts
- Total Retirement Income: $79,563
- Social Security Income: $28,219
- Retirement Account Income: $51,344
Ranked high for families and retirees, Cambridge, Massachusetts, offers a population of around 12% aged 65 and over. However, its vibrant urban location offers plenty to do and enjoy during later years.
1. Arlington, Virginia
- Total Retirement Income: $90,140
- Social Security Income: $24,296
- Retirement Account Income: $65,844
Arlington, Virginia, has the highest total retirement income by a large margin. Even though only 11.9% of its residents are 65 and over, it has wonderful outdoor activities, great nightlife, and excellent healthcare.
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