Seven North Texas Cities Selected Top Places For Retirement Savings

Where one lives before retirement can significantly impact financial security. A recent report by MutualFund.com suggests that more than half of U.S. households may struggle to cover essential expenses post-retirement. 

To pinpoint the best places for retirement savings, a comprehensive analysis was conducted on cities across the nation, considering factors like housing affordability, income, cost of living, economic stability, and tax policies. In North Texas, arlington, Garland, Plano, grand prairie, Irving, Fort Worth and McKinney have emerged as top destinations for retirees.

These cities dominate the rankings in the dallas metropolitan area, highlighting the region's attractiveness for nest egg building. Arlington, Garland and Plano secured positions 5, 6, and 12, respectively, while Grand Prairie, Irving, Fort Worth and McKinney also earned notable spots at 13, 18, 19 and 20. Notably, all top five cities have poverty rates below the national average and boast affordable housing costs.

Texas stands out for its lack of state income tax, making it advantageous for maximizing savings. With a median home price of $310,195 and a substantial year-over-year income growth rate of 17.61%, Arlington presents an enticing opportunity for retirees. Whether through employer-sponsored retirement plans or traditional Individual Retirement Accounts (IRAs), careful planning is key to financial stability in retirement.

Garland and Plano stand out as excellent choices for individuals looking to save for their retirement, making the Dallas metropolitan area an attractive option for financially savvy retirees. Plano's consistently growing economy, with a median household income of $103,916 and low unemployment rates, makes it a promising location for maximizing savings potential. Garland's particular strength was its impressive 40.5% percentage of homeowners without a mortgage. Both cities provide retirees with ample opportunities to secure their financial futures.

The methodology examined over 170 census-defined places, evaluating median household income, monthly housing costs, poverty rate, housing affordability, income growth rate and tax policies. Each variable was graded to assess each city's retirement savings potential.

To access the full report, visit the following link.

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