The best retirements are just like the best real estate…both are about location, location, location.
With more and more retirees living longer and being responsible for their own financial security, choosing the right state in which to live is increasingly important.
WalletHub’s latest Retirement Friendliness State Comparisons have just been released. The company included metrics such as cost of living, crime rates, friendliness regarding pensions, social security income, the number of health care facilities, access to public transportation, weather, proximity to golf courses and cultural institutions, etc.
Unsurprisingly, Florida took the top spot in the Best States category, as it has for three consecutive years. Surprisingly, South Dakota and Iowa ranked higher than expected among the Bests. Unsurprisingly, high tax states such as Rhode Island and New Jersey ranked among the lowest in the Worst States category.
Here are WalletHub’s Best and Worst rankings by state:
Best Retirement States
Overall State Affordability Quality of Life Health Care
1 Florida 1 5 20
2 Colorado 23 8 2
3 S Dakota 2 32 6
4 Iowa 26 11 9
5 Virginia 18 9 21
6 Wyoming 4 30 29
7 New Hampshire 29 14 4
8 Idaho 11 20 25
9 Utah 22 24 12
10 Arizona 21 21 17
Worst Retirement States
Overall State Affordability Quality of Life Health Care
1 Kentucky 38 47 47
2 New Jersey 50 28 33
3 Rhode Island 48 46 22
4 Mississippi 10 49 50
5 Arkansas 20 50 45
6 W. Virginia 16 43 49
7 Louisiana 17 41 46
8 New Mexico 39 42 35
9 Hawaii 40 36 3
10 Alabama 3 48 48
