The 15 best paying cities for working seniors in 2023

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Editor’s word: This story initially appeared in The smartest dollar.

With most seniors out of the workforce and residing off mounted revenue or retirement financial savings, the quickly rising price of residing has set in financial stress to older households.

Inflation apart, seniors want extra money than ever earlier than to dwell comfortably in retirement. the The average life expectancy of a 65-year-old man in the USA for greater than 4 years since 1970.

Older adults additionally face higher well being issues than the remainder of the inhabitants, which comes at a excessive price. The Facilities for Medicare and Medicaid Providers estimates that per capita Spending on health care for the elderly It’s practically 3 times that of the working-age inhabitants.

Confronted with these situations, older Individuals are staying within the workforce longer.

To find out the best-paying areas for working seniors, the Smartest Greenback researchers calculated the cost-of-living-adjusted median annual wage for seniors who work full-time. The information used on this evaluation is from the US Census Bureau.

For the needs of this evaluation, aged folks aged 65 and over had been thought-about. Discover particulars about our methodology on the finish.

Listed below are the perfect paying metropolitan areas in the USA for working seniors.

15. Oklahoma Metropolis, OK

Oklahoma City
Henrique Sadora / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $60,372
  • Common annual wage for full-time seniors (precise): $56,000
  • Median annual wage for all full-time staff (adjusted): $50,669
  • Share of the full-time workforce within the aged: 3.8%
  • Older inhabitants proportion: 14.8%

14. Cincinnati, oh-ky-in

Cincinnati
Ann Kitsman / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $60,418
  • Common annual wage for full-time seniors (precise): $57,000
  • Median annual wage for all full-time staff (adjusted): $58,298
  • Share of the full-time workforce within the aged: 3.8%
  • Older inhabitants proportion: 15.8%

13. San Francisco – Oakland – Hayward, California

San Francisco
Pius Lee / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $61,753
  • Common annual wage for full-time seniors (precise): $74,000
  • Median annual wage for all full-time staff (adjusted): $71,767
  • Share of the full-time workforce within the aged: 4.4%
  • Older inhabitants proportion: 16.7%

12. Baltimore Columbia Towson, MD

Baltimore, Maryland
Hethers/Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $61,898
  • Common annual wage for full-time seniors (precise): $65,000
  • Median annual wage for all full-time staff (adjusted): $61,898
  • Share of the full-time workforce within the aged: 5.2%
  • Older inhabitants proportion: 16.2%

11. Windfall Warwick, RI-MA

Providence, Rhode Island
Nagel Images / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $62,254
  • Common annual wage for full-time seniors (precise): $63,000
  • Median annual wage for all full-time staff (adjusted): $59,289
  • Share of the full-time workforce within the aged: 5.1%
  • Older inhabitants proportion: 18.1%

10. Milwaukee – Waukesha – West Allis, Wisconsin

Milwaukee, Wisconsin
Rudy Palasco / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $62,752
  • Common annual wage for full-time seniors (precise): 60 thousand {dollars}
  • Median annual wage for all full-time staff (adjusted): $57,523
  • Share of the full-time workforce within the aged: 3.4%
  • Older inhabitants proportion: 16.7%

9. Nashville-Davidson-Murfreesboro-Franklin, Tennessee

Nashville, Tennessee
Kevin Rock / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $62,807
  • Common annual wage for full-time seniors (precise): 60 thousand {dollars}
  • Median annual wage for all full-time staff (adjusted): $52,339
  • Share of the full-time workforce within the aged: 4.0%
  • Older inhabitants proportion: 14.3%

8. Buffalo Cheektowaga Niagara Falls, New York

Buffalo, New York
Atomazole/Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $63,084
  • Common annual wage for full-time seniors (precise): 60 thousand {dollars}
  • Median annual wage for all full-time staff (adjusted): $56,775
  • Share of the full-time workforce within the aged: 4.1%
  • Older inhabitants proportion: 19.0%

7. San Jose – Sunnyvale – Santa Clara, California

The San Jose skyline, where the average rent is lower than the average mortgage payment
stellamc/Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $64,491
  • Common annual wage for full-time seniors (precise): $72,000
  • Median annual wage for all full-time staff (adjusted): $89,570
  • Share of the full-time workforce within the aged: 4.1%
  • Older inhabitants proportion: 14.5%

6. Tucson, Arizona

Tucson, Arizona
Chris Rubino / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $64,570
  • Common annual wage for full-time seniors (precise): 60 thousand {dollars}
  • Median annual wage for all full-time staff (adjusted): $51,656
  • Share of the full-time workforce within the aged: 4.6%
  • Older inhabitants proportion: 20.6%

5. San Diego Carlsbad, California

San Diego, California
Dancestrokes/Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $65,133
  • Common annual wage for full-time seniors (precise): $75,000
  • Median annual wage for all full-time staff (adjusted): $52,106
  • Share of the full-time workforce within the aged: 3.9%
  • Older inhabitants proportion: 14.9%

4. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Philadelphia, Pennsylvania
f11photo / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $65,518
  • Common annual wage for full-time seniors (precise): $65,000
  • Median annual wage for all full-time staff (adjusted): $62,494
  • Share of the full-time workforce within the aged: 5.1%
  • Older inhabitants proportion: 16.8%

3. Boston – Cambridge – Newton, MA – NH

Boston
Mandritoiu/Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $70,198
  • Common annual wage for full-time seniors (precise): $77,000
  • Median annual wage for all full-time staff (adjusted): $68,375
  • Share of the full-time workforce within the aged: 4.8%
  • Older inhabitants proportion: 16.5%

2. Hartford – West Hartford – East Hartford, Connecticut

Hartford, Connecticut
Sean Pavone / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $70,788
  • Common annual wage for full-time seniors (precise): $72,000
  • Median annual wage for all full-time staff (adjusted): $63,906
  • Share of the full-time workforce within the aged: 4.9%
  • Older inhabitants proportion: 18.3%

1. Washington-Arlington-Alexandria, DC-VA-MD-WV

Arlington, Virginia
Sean Pavone / Shutterstock.com
  • Median annual wage for full-time seniors (adjusted): $73,649
  • Common annual wage for full-time seniors (precise): $82,000
  • Median annual wage for all full-time staff (adjusted): $70,056
  • Share of the full-time workforce within the aged: 4.8%
  • Older inhabitants proportion: 13.9%

methodology

Man, analyzing data on a laptop
fizkes/Shutterstock.com

The information used on this evaluation is from the US Census Bureau 2021 American Community Survey.

To find out the best-paying areas for working seniors, the Smartest Greenback researchers calculated the cost-of-living-adjusted median annual wage for seniors who work full-time.

At a tie, the placement with the biggest unadjusted median annual wage for full-time seniors was ranked larger. For the needs of this evaluation, aged folks aged 65 and over had been thought-about.

#paying #cities #working #seniors

By moh

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