America’s 5 richest retirement towns

Published 2 Min Read

Adobe Stock/Ryan TishkenEast Honolulu, Hawaii is one of the richest retirement towns in the United States, according to a ranking by GoBankingRates.com.

Retirement is often thought of as a time for pinching pennies. But in some parts of the country, retirees live more comfortably than many Americans do during their working years.

Where are those places? GoBankingRates has mapped them out. The personal finance website studied U.S. cities and towns where American seniors — defined as those aged 65 and older — made up at least one-quarter of the population, and then ranked those communities by median income. The result is a list of the wealthiest retirement towns across the United States, from New York to Hawaii.

Fifth on GoBankingRates’ list is Melville, a small suburban hamlet in Long Island, New York. The town has a population of 18,526, and 27.8% of those residents are 65-plus. How did it make it to No. 5? The town’s median household income is $146,302.

But that’s not the only thing that stands out about Melville. Ian Weinberg is the founder of Family Wealth & Pension Management in Woodbury, New York, not far from Melville, and he’s familiar with the area’s many retirement-friendly qualities.

Nathan Place
National Reporter

Nathan Place is a national reporter at American Banker. A native of New York City, he has worked for more than a decade in both print and video journalism. He got his start in Beijing, where he … Read full bio


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