Naples does it again, ranks as No. 1 spot to retire in the country – Naples Daily News

Posted: October 12, 2019 at 10:42 am

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About a dozen seniors at the Carlisle Naples have been taking harmonica lessons with Glenn Basham, concertmaster for the Naples Philharmonic, which helps with breath control and expanding breathing capacity, especially for those with COPD. Alex Driehaus, Naples Daily News

Heads up millennials and other future retirees.

Naples has been named as the "best place to retire" again.

After recently ranking No. 1 on a list of 'best cities for early retirement' in the United States, Naples has once again clinched the title of the best place to retire in Florida and the country.

The newest ranking comes from SmartAsset,a New York financialtechnology firm.The study is based on three factors: tax-friendliness, medical care and social life.

More: Naples named No. 1 on list of 'best cities for early retirement' in United States

Naples earned the top ranking for 2018 when SmartAsset did the same type of study.

"We have ranked the best places to retire in Florida for five years," said Alyssa Annunziato, a spokeswoman for SmartAsset, in an email."Naples has been ranked in the top 10 every year, as well as being ranked No. 1 nationally for the past three years."

Lana Butsky, center left, and Connie Leon, center right, enjoy the sunrise during an Easter Sunday service hosted by the First United Methodist Church at the Naples Pier on April 21, 2019. (Photo: Jon Austria/Naples Daily News USA TODAY NETWORK - FLORIDA)

To determine the rankings, SmartAsset looksat state and local tax ratesand calculatesthe number of doctors' offices, recreation centers and retirement centers for every 1,000 residents, as well asdeterminesthe amount of seniors already living in each area included in its study.

Naples ranked high in all areas of the study, earninga score of 100 on SmartAsset's retirement index.

New Port Richey took second place for the best place to retire in Florida, with a score of 64.13.

These are the other cities rankings in the top fivefor the state, along with their scores:

As for the national rankings, the other four cities making the top fiveare: Cumming, Georgia (93.67), Beverly Hills, California(78.51), Gig Harbor, Washington (70.64) and Wasilla, Alaska (70.17).

FortMyersranked 37 out of 208 cities statewide and stood at No. 141 nationally.

Also,FortMyersBeach ranked 26th in the state and 90th nationally.

Meanwhile, another personal finance site, Magnify Money, recently listed Naplesamong the top 20 for a FIRE retirement an acronym for "financially independent, retire early."

Community members gather at the Naples Pier for an Easter sunrise service hosted by the First United Methodist Church on Sunday, April 21, 2019.(Photo: Jon Austria/Naples Daily News USA TODAY NETWORK - FLORIDA)

According to theMagnify Money article, "The FIRE approach to retirement has become popular among many younger, millennial savers in recent years. In a nutshell, practitioners of FIRE aim to retire as early as they can, but only once they have achieved a level of financial independence that would free them from conventional employment. The core strategy for building a nest egg that would allow one to retire early is to adopt extremely frugal saving and spending habits."

Not surprisingly, half of the top 20 cities that made Magnify Money'slist are in Florida, well-known for its retirement and snowbird-friendly reputation. Fort Myers ranked No. 9.

To determine the rankings, the firmcompiled data on 171 cities across America and scored them on cost of living and quality of life. The values were combined to produce an overall ranking of the best cities for a FIRE retirement.

More: What were the top 5 things we tasted in September at Naples restaurants?

For those wondering,New York City ranked dead last in Magnify Money's report because of its high cost of living.

Asked if the top rankings bySmartAsset and Magnify money have helped the local real estate market, Phil Wood, president and CEO of John R. Wood Realtors in Naples, answered "absolutely," followed by a exclamation point, in an email.

"We use that type of thing in our website blog," he said. "And any other place that is appropriate.The fact that Naples does so well in several different rankings each year is definitely helpful in our sales efforts."

Jennifer Sangalang, a social media strategist for USA TODAY Network-Florida, contributed to this story.

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Naples does it again, ranks as No. 1 spot to retire in the country - Naples Daily News

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October 12th, 2019 at 10:42 am

Posted in Retirement