Work Life Retirement
T he pathway to California’s golden years just might be across the Golden Gate. That’s what finance website SmartAsset found when it released a new report this summer naming Marin County as the best place in California for retirement. With its reputation for hot-tubbing, healthy living and outdoors opportunities, it should come as little surprise the progressive enclave finished with high placement on the list. Rounding out the top five best counties for retirement are: San Luis Obispo, Placer, Tuolumne and Nevada County. Sonoma and Napa counties barely missed the Top 10, finishing 11th and 12th, respectively. In compiling its rankings, SmartAsset gathered data on three regional factors that are known to determine quality of life for retirees—health care, social opportunities and tax friendliness. Marin, with a population composed of 22.3% retirees, topped the Top 10 list of most recreation centers per 1,000 residents (1.12), tied for second in most medical centers per 1,000 (2.04) and finished third for most retirement communities per 1,000 (0.16). On the other hand, Marin came up short with its tax burden, landing last among the Top 10 at 16.4% (the average is 16.1%). For its tax rankings, SmartAsset looked at two types of taxes: income and sales. “We calculated effective rates based on a retiree earning $35,000 annually (from retirement savings, Social Security and part-time employment),” the site says. “We subtracted income taxes paid from the gross income to determine disposable income.” Meanwhile, sales taxes paid were calculated based on the disposable income being spent on taxable goods. Sonoma County, whose population is 19.6% seniors, has a Marin a retirement mecca, according to financial website By Jason Walsh
More than 22% of Marin residents are retirees.
16.8% overall tax burden. Napa’s
19.2% seniors face a 16% burden from the taxman. The final list was based on the average ranking for each area, and SmartAsset weighted the three factors equally. The areas with the highest average ranking were determined to be the best places to retire. Top 10 Counties to Retire To 1. Marin 2. San Luis Obispo 3. Placer 4. Tuolumne
5. Nevada 6. Shasta 7. Amador 8. Orange 9. Ventura 10. El Dorado
18 NorthBaybiz
September 2024
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