For the sixth consecutive year, New York financial technology company SmartAsset has named Greenville as one of its 10 Best Places to Retire in South Carolina.
The study, also in its sixth year, explores the best places to retire nationwide and compiles lists for each state by exploring the quality of life for retirees in financial, medical care and social opportunities.
“(For the financial side), we looked at state and local tax rates, considering two types of taxes: income and sales, said vice president of education A.J. Smith. “We calculated effective rates based on a retiree earning $35,000 annually (from retirement savings, Social Security and part-time employment). We subtracted income taxes paid from the gross income to determine disposable income. Sales taxes paid were calculated based on the disposable income being spent on taxable goods.”
Following the financial calculations, the study determined the number of doctors’ offices, recreation and retirement centers per thousand residents in each city. Lastly, it measured the number of seniors in each location as a percentage of the total population.
Each of those results were weighed equally and the areas with the highest average ranking went on the list. For 2020, Greenville ranks fifth, while Seneca is first and Anderson is tenth.
To learn more about the study, visit www.smartasset.com/retirement/retirement-calculator#southcarolina.