Should You Retire in Metro Detroit? No, According to New Analysis

Metro Detroit is one of the worst places in the country to retire, according to a new study by the personal finance website WalletHub.

The area ranks 69th in affordability, 105th in activities, 137th in quality of life; and 148th in the health care.

WalletHub used the findings of the Employee Benefit Research Institute’s latest Retirement Confidence Survey in its analysis. That study found that compared to previous generations, many Americans are working more years only to grow further from financial freedom. In 2014, 23 percent of workers expected to retire at age 65, but only 11 percent actually were able to, according to the study.

Many blame the economy for postponing and others point to “inadequate finances” as the other primary hurdle to retiring on schedule. For 51 percent of workers and 31 percent of retirees, their debt levels keep them on their hamster wheels.

A fourth of American workers approaching retirement age haven’t socked away any cash. Among the employed participants in the EBRI survey, 50 percent cited cost of living and daily expenses as impediments to saving for retirement.

WalletHub compared the retirement-friendliness of the 150 largest U.S. cities across 24 key metrics. Its data set ranges from the cost of living to the percentage of the elderly population to the availability of recreational activities.

WalletHub compared the retirement-friendliness of the 150 most populated U.S. cities across four key dimensions: affordability, activities, quality of life and health care. WalletHub then compiled 24 relevant metrics.

Among the 150 cities compared in the analysis, Detroit ranked 149th in the lowest percent of workers age 65 and older who are employed.