10 Best Cities for San Diego Gas & Electric Employees Nearing Retirement

Healthcare Provider Update: San Diego Gas & Electric (SDG&E) primarily offers healthcare coverage for its employees through various health insurance providers, including major players in the market such as Anthem Blue Cross and Kaiser Permanente. These providers typically offer a range of plans that cover various medical needs, including preventive care, hospital visits, and prescription medications. As we approach 2026, significant healthcare cost increases are anticipated for SDG&E employees. With the potential expiration of enhanced federal premium subsidies under the Affordable Care Act, many policyholders may see their out-of-pocket costs skyrocketing by over 75%. Increased medical costs, driven by rising hospital and prescription drug prices, combined with aggressive rate hikes from insurers, could lead to premium increases of up to 66.4% in some states. This perfect storm of factors will pose a substantial financial challenge for workers relying on employer-sponsored healthcare plans. Click here to learn more

As the U.S. demographic landscape evolves, more Americans, including those at San Diego Gas & Electric, are strategically relocating in retirement to enhance their quality of life.  According to the U.S. Census Bureau, the population aged 65 and older is expected to rise from 17% in 2023 to 20% by 2030 . This shift highlights a growing segment of people looking to refine their living conditions during retirement.

A range of factors influence relocation when retiring from San Diego Gas & Electric, including seeking better climates, lower living expenses, and affordable housing.  Data from HireAHelper reveals that over 338,000 Americans moved for retirement in 2023 alone, reflecting this increasing trend . Falling mortgage rates, currently at a two-year low of 6.08% according to Freddie Mac, have also made the housing market more accessible, further encouraging these moves.

Top Retirement Destinations in the U.S.

A 2023 study by SmartAsset analyzed 40 major U.S. cities, identifying retirement destinations that cater to different priorities, from tax benefits to healthcare availability . This study considered factors like the share of boomer homeowners, loan volume, and local home prices to identify the most popular choices for retirees.

Florida stands out as a top destination due to its tax advantages, including no income, inheritance, or estate taxes—factors many retirees prioritize. North Carolina also ranks highly for its healthcare infrastructure, mild climate, and tax benefits on Social Security income. San Diego Gas & Electric employees nearing retirement may find these states particularly appealing.

Challenges in Popular Areas

While many locations attract new retirees, some areas pose challenges. San Francisco, for example, has high housing costs that create barriers for retirees. Only 0.25% of local boomers bought homes in 2023, with the median home price around $1.5 million, making it less feasible for many.

Top 10 Cities Attracting Retirees

Here are the top 10 cities that retirees increasingly favor for their financial benefits, lifestyle options, and community resources:

1. Raleigh, North Carolina  – 2.8% of boomer homebuyers chose Raleigh, resulting in 8,215 loans in 2023.

2. Nashville, Tennessee  – Attracts 2.7% of boomers, with 11,410 loans granted.

3. Phoenix, Arizona  – 2.6% of boomer purchases, totaling 27,745 loans.

4. Indianapolis, Indiana  – 2.6% home-buying rate, leading to 11,891 loans.

5. Charlotte, North Carolina  – Matching Raleigh’s rate with 15,096 loans.

6. Jacksonville, Florida  – 2.6% of boomer buyers, resulting in 10,186 loans.

7. Tampa, Florida  – 2.4% of boomers purchased homes here, with 19,878 loans.

8. Orlando, Florida  – At a similar rate, 13,892 loans were granted.

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   Columbus, Ohio  – Matches the 2.4% rate, with 10,557 loans.

10. Virginia Beach, Virginia  – Similar buying rate and 9,543 loans.

These locations offer both financial benefits and lifestyle options suitable for retirees, including San Diego Gas & Electric employees, who are transitioning to a new phase in life.

Importance of Public Transportation

Accessible public transportation is essential for retirees, as it enhances mobility and independence.  An AARP study indicates that cities with age-friendly transit options help seniors maintain autonomy without needing a personal vehicle . Raleigh and Phoenix are expanding their transit networks to increase access, making them attractive to retirees who value connectivity.

Choosing the right retirement location is a significant decision, akin to selecting a favorite fruit from an abundant market. Each option offers unique benefits: Florida, with its favorable tax policies, and North Carolina, with its moderate climate and healthcare advantages, provide appealing choices for different tastes. As retirees explore their options, they embark on an exciting new chapter, ready to embrace the benefits each city offers for a fulfilling retirement.