gpointstudio / Shutterstock.com
Editor’s Note: This story originally appeared on Smartest Dollar.
With most seniors out of the workforce and living on fixed incomes or retirement savings, the rapidly rising cost of living has put a financial strain on older households.
Beyond inflation, however, seniors need more money than ever to live comfortably in retirement. The life expectancy of a 65-year-old in the U.S. has risen by more than four years since 1970.
Seniors also face greater health issues than the rest of the population, which comes at a high cost. The Centers for Medicare and Medicaid Services estimate that per-capita health care spending for seniors is nearly three times as high as that for the working-age population.
Faced with these circumstances, older Americans are staying in the workforce longer.
To determine the best-paying locations for working seniors, researchers at Smartest Dollar calculated the cost-of-living adjusted median annual wage for seniors working full-time. The data used in this analysis is from the U.S….
Read full article Source