KUALA LUMPUR – A recently released study determining the best cities for retirement had ranked Kuala Lumpur 46th for financial security and legacy management out of 100 cities in total.
The study was a collaboration between Veolar medical and Magmatic Research where thousands of cities worldwide were compared and ranked in order to determine which cities are the best for seniors to retire.
Veolar revealed that the financial security aspect reflects on the city’s economic situation along with the welfare and fiscal environment for the retirees. Scoring higher means that its essentially easier for retirees to retire early and also have better access to incentives and welfare benefits.
The legacy management portion is ranked based on how easily the retirees are able to manage their inheritance. Higher scores for this section means that retirees are able to manage their inheritance easily. This also includes elements like lower cost and easy compliance to regulations.
These are just parts of the main factors that the study was conducted on. The focus was on several factors namely City Infrastructure, Accessibility and Liveability and both financial security and legacy management falls under the infrastructure factor.
Veolar had also analysed the quality of healthcare services, mobility options and housing aspects under the infrastructure factor.
Accessibility highlights on the accessibility of retirees to healthcare, public transportation quality and the ease of travelling within the city whereas the Liveability section looks into what quality of life aspects the retirees would get there. These include the cultural aspects, public areas, dining options, and events for senior citizens.
Out of a score of 100 for each categories, Kuala Lumpur scored 73.3 for financial security but a 95.3 for legacy management. However, healthcare scored 76.2, while mobility and housing each received 66.9 and 72.0 marks respectively.
For the Accessibility factor, Kuala Lumpur scored 75.3, 65.4 and 71.8 for the accessibility to healthcare, public transportation quality and also ease of travelling respectively.
Kuala Lumpur’s liveability factor recorded average scores between 51.5 and 63.0 although the city scored 78.5 for its air quality.
The top five cities ranked ‘Best Cities for Financial Security and Legacy Management’ revealed in the study were Dubai, Singapore, Wellington, Abu Dhabi and Vienna.
Meanwhile, the study also revealed the ‘Best Cities for Retirement’ overall where Tokyo, Wellington, Singapore, Paris and Vienna ranked top five. This list ranked Kuala Lumpur 90th place.
Find out more about the study here.
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