Study: Gig Harbor is primo for retirement

Jan 21st, 2021 | By | Category: Personal Finance/Business

Gig Harbor is the best place to retire in Washington, according to a nationwide study.

For its sixth annual “Best Places to Retire in the U.S.,” SmartAsset, a New York-based financial technology company, measured tax friendliness, the availability of medical care, recreation and social opportunities, and senior populations in each location. Gig Harbor came out on top in the Evergreen State with ratios of 9.8 doctor offices, 2.9 recreation centers and 2.1 retirement centers per 1,000 residents. In addition, 23 percent of the overall population is seniors.

Gig Harbor is the only city in Pierce or King counties that made the list of 10-best places in Washington. The others who did, in order, are Sequim, Olympia, Snohomish, Clarkston, Woodinville, Lynnwood, Anacortes, Othello and Port Orchard. All except Clarkston and Othello are west of the Cascades.

Outside of Washington, the best city in the country is Naples, Fla., based on having 28 medical facilities per 1,000 residents and a 51 percent senior population.

Tax-friendliness, one of the regional factors that affect the quality of life for retirees, was evaluated via state and local income and sales tax rates (Washington doesn’t have an income tax). Calculations were based on a retiree earning $35,000 annually (from retirement savings, Social Security, and part-time employment). Paid income taxes paid were subtracted from gross income to determine disposable income. Paid sales taxes were based on the disposable income spent on taxable goods.

“In our final analysis” of taxes and other factors, “we calculated an average ranking for each area and weighted the three factors equally. The areas with the highest average ranking were determined to be the best places to retire,” a Smart Asset spokesman said.

 

 

Gig Harbor is known for its picturesque waterfront and as, in the eyes of a national study, the best place in Washington to retire.

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