According to research published in March by Go Banking Rates, Rancho Palos Verdes is the wealthiest retirement town in the United States and the number one site for wealthy retirees. Rancho Palos Verdes is a gated community for retirees with a median household income of $166,747; it is located in Southern California, along the beautiful coast, close to Torrance, Lomita, and San Pedro.
With a focus on communities with populations over 15,000 and a minimum of 25% of persons 65 and up, the study set out to discover the best places in the US to retire.
California took pride in its four spots, highlighting its appeal to well-heeled retirees, while Florida, frequently hailed as a retirement paradise, had only one city make the top ten.
According to the survey, these are the ten wealthiest retirement villages in the United States:
- Rancho Palos Verdes, California: Stunning coastline vistas and a high median income put Rancho Palos Verdes, California, at the top of the pack.
- Highland Park, Illinois: Midwestern splendor in Highland Park, Illinois: a place where tranquility and opulence coexist.
- Bainbridge Island, Washington: The beautiful scenery and lively atmosphere of Bainbridge Island, have made it famous.
- East Honolulu, Hawaii: A place where vacations never cease in retirement.
- Melville, New York: A wonderful example of a New York suburb that manages to be both peaceful and conveniently located near the city is Melville.
- Laguna Beach, California: The beautiful beaches and artistic atmosphere of Laguna Beach, California, have made it famous worldwide.
- Paramus, NJ: A peaceful haven with quick access to city life.
- Naples, Florida: The next city on the list is Naples, which is located in Florida and is famous for its golf courses and sunset vistas.
- Walnut Creek, California: A sanctuary with lots of parks and cultural events.
- Cerritos, California: A thriving town with a diverse population.
- Financial preparation is essential for retirees wishing to live it up in Rancho Palos Verdes or one of those other wealthy cities.
The study found that homeowners in Rancho Palos Verdes would need a minimum of $1.4 million to retire comfortably for 25 years, and $1.7 million for 30 years. Additionally, according to an additional analysis from the same personal finance website, the average California retiree needs an annual income of $90,399 to have a comfortable retirement.
If you want to retire in style and elegance, particularly in one of California’s top destinations, you need a solid financial strategy, and these results prove it.