6 Top IE Cities To Retire: Cost Of Living Vs. Lifestyle - What's More Important To You?

INLAND EMPIRE, CA — Retiring comfortably in California is still possible for those who properly plan, according to a recent WalletHub study. Those planning on retiring within the next few years should consider a place where they feel the safest and can expect good healthcare and great weather, and a choice of leisure time activities, all while juggling a fixed income, according to WalletHub experts.

Is that possible to do in California? Maybe, according to WalletHub's panel of experts.

California towns offer good weather, a high quality of life, and a variety of activities for retirees, according to the study. Affordability remains the biggest hurdle for many. Experts have identified 29 California towns out of 182 surveyed cities that meet one or more of those core metrics. Six cities in the Inland Empire made the grade for the best retirement possibilities, according to the study.

In the Inland Empire, Moreno Valley ranked the most "retirement friendly" at 143rd, according to WalletHub. Moreno Valley offers middle-of-the-road numbers in the areas of affordability, while it ranks significantly lower in available activities, quality of life, and health care.

1. Moreno Valley - 143rd
2. Riverside - 158th
3. Ontario - 162nd
4. Fontana - 170th
5. Rancho Cucamonga - 175th
6. San Bernardino - 179th

For the sake of the survey, WalletHub researchers focused on the favored activities for retired folks, such as senior centers, fishing facilities, golf courses, museums, theaters, art galleries, book clubs, and bingo halls. Quality of life included weather, air quality, and how caring the community is toward those 65 and up, including an elderly-friendly labor market, walk score, elder abuse protections, and crime rates. Health care included the availability of physicians, specialists, physical therapists, nearby hospital ratings, availability of home health care and life expectancy.

Across the Golden State, San Francisco and San Diego made the list of California cities that were the "best" when considering the complete retirement picture.

San Francisco retirees have a high quality of life (23) and ranked high for activities (2). According to the survey, they enjoy above-average health care (37). Still, affordability in San Francisco was on the lower side (163). San Diego is considered a slightly more affordable place to retire (151). It also ranked high in the categories of activities (10) and quality of life (9) and was middle of the road when it comes to health care (66).

The nationwide rankings for California towns were as follows:

1. San Francisco - 11th
2. San Diego - 20th
3. Glendale - 33rd
4. Los Angeles - 34th
5. Sacramento - 41st
6. Huntington Beach - 46th
7. Long Beach - 58th
8. Irvine - 68th
9. Fremont - 88th
10. Anaheim - 92nd
11. Garden Grove - 95th
12. Oakland - 96th
13. Santa Clarita - 97th
14. Oceanside - 109th
15. San Jose - 110th
16. Santa Ana - 119th
17. Oxnard - 121st
18. Santa Rosa - 124th
19. Moreno Valley - 143rd
20. Chula Vista - 145th
21. Modesto - 148th
22. Riverside - 158th
23. Ontario - 162nd
24. Fontana - 170th
25. Fresno - 171st
26. Rancho Cucamonga - 175th
27. San Bernardino - 179th
28. Bakersfield - 180th
29. Stockton - 182nd

What does it take to retire comfortably?

When it comes to retirement, each retiree must consider multiple factors, such as time or money, and determine what is most important to them, according to WalletHub financial writer Adam McCann.

"With cost being a significant factor in retirement, our analysis assumes retirees will rely on a fixed income," McCann wrote. "The lower their expenses, the better retirees will fare in a particular city." Approximately 64 percent of workers feel at least "somewhat confident" that they can retire comfortably. Just over 25 percent of those polled felt "very confident" about their ability to retire comfortably.

McCann explained the crux of the matter.

"Many American workers are worried about their financial future, what other options provide a pathway to a comfortable retirement? For some, the only solution is to keep working," he wrote. "According to Gallup polling, workers in 2022 planned to retire at age 66 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle."

Wherever you decide to retire, according to Rui Yao, Professor of Applied Social Sciences at the University of Missouri, one of the biggest mistakes is not planning.

"People love to dream about what they will do when they finally do not have to work, but they hate to do the math," she said. "Ironically, retirement is too important a financial goal for people to make mists on. If we make a planning mistake, we can put off a vacation, but once we retire, it is impossible to start over."

If you're considering retiring out of state, check out WalletHub's "Best & Worst States to Retire" ranking, too.