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7 U.S. Cities Where the Super Rich Move for Retirement

SmartAsset - copyright 2018

Liz Smith | MAR 7, 2019

America’s elite live differently from the rest of us, so it’s no surprise that they retire differently than us, too. 

Retirees with ample savings typically seek a home with senior-friendly leisure activities and scenic beauty – without being too far from a cultural capital with an international airport. 

From staples like Florida to lesser-known locales in Idaho, check out seven American communities with high average retirement income, home value and citizen age.

Check out the list, then consult a financial advisor to see if moving to any of these cities fits into your retirement plan.

7 Destinations Where the Wealthy Retire

1. Hunts Point, Washington

According to Bloomberg, Hunts Point retirement income is nine times the national average. Most homes in this tiny, secluded Seattle suburb have access to Lake Washington as well as equestrian and pedestrian trails. 

2. Paradise Valley, Arizona

Spanning 16 square miles and teeming with top-rated resorts and restaurants, Paradise Valley is within a half hour of Phoenix and Scottsdale. U.S. News reports the median home sale here is $1.3 million. 

3. Montecito, California

Nestled between the Pacific Ocean and Los Padres National Forest, Montecito boasts a Mediterranean climate and stunning sunsets. Forbes lists the average home price as $1.7 million and the 65-plus population at 22%. 

4. Sun Valley, Idaho

Nearly one-quarter of Sun Valley’s 4,000 residents are senior citizens. Ernest Hemingway, Clint Eastwood and the Kennedys have all spent time in this artsy outdoors town. 

5. Harbor Hills, New York

F. Scott Fitzgerald wasn’t exaggerating when he detailed Long Island opulence. Bloomberg reports the average retirement income in the hamlet of Harbor Hills is over $114,000.

5. Palm Beach, Florida

The Sunshine State has long been a haven for retirees, but the wealthiest concentrate themselves in Palm Beach. More than half the population is 65 and above. 

6. Belle Meade, Tennessee

Just beyond the live music, hip hangouts, and top medical facilities of Nashville, this affluent independent city has a median household income of $230,000. 

7. Kiawah Island, South Carolina

This 14-square-mile barrier island 25 miles south of Charleston has a median household income of $170,000 and average home prices of $850,000, according to Forbes. 

The Trick to Retiring Like the Wealthy

While 401(k)s and IRAs are effective retirement tools, living your best retirement may take a bit more work, but an unbiased expert can help make it happen. 

fiduciary financial advisor will assess your financial situation holistically, work with you to set realistic retirement goals, and develop a savings and investment strategy to help you reach them. They can also help you determine where you can retire comfortably.

Chances are, there are several highly qualified financial advisors in your town. However, it can seem daunting to choose one. 

This new tool makes it easy to find the right financial advisor for you. Now you can get matched with up to three local fiduciary investment advisors that have passed a rigorous screening process.

Follow These Steps for Better Financial Future

1. Simply enter your ZIP code below.

2. After you enter your ZIP code and answer a few questions about your financial goals, you can compare up to three top advisors local to you and decide who to work with.

3. Enjoy a better financial future!

Find Your Advisor

SmartAsset - copyright 2018

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