COLUMBIA, S.C. — Personal finance website WalletHub released its report on 2022's Best & Worst Places to Retire and two South Carolina cities came out in the top 30.
Based on a comparison of 46 key measures of affordability, quality of life, health care, and availability of recreational activities, the data set ranges from the cost of living to retired taxpayer-friendliness to the state's health infrastructure. When all the numbers were crunched, Charleston, SC, came out as the Number 1 Best City to retire.
The Holy City had an overall high score of 58.97 -- ranking 21st in affordability, 15th in activities, 75th in quality of life, and 48th in health care. The only other city in South Carolina to be ranked on WalletHub's list was Columbia -- coming in at an overall rank of 29, placing 11th in affordability, 79th in activities, 110th in quality of life, and 104th in health care.
Other cities in the Southeast region with notable overall rankings are: Atlanta rated 13, Charlotte came in at 89, and Augusta ranked 112.
See the interactive map:
WalletHub asked professionals about the biggest mistake that people make when planning their retirements.
Dr. Mary Anne Taylor, professor, and member of the Institute for Engaged Aging at Clemson University responded, “Not seeking out qualified financial expertise. We know there is a significant difference between subjective or casual judgments of financial preparedness and financial adequacy (how prepared people feel and how adequate they believe their income is for retirement) and objective judgments of preparedness and financial adequacy. A more objective estimate of how much money you’ll need can come from meeting with a qualified financial advisor.”
