Monday, July 24, 2017

Best and Worst States To Retire




Most people are focused on when they will retire. A better question may be where.

With more and more retirees responsible for their own financial security, almost half of Americans said they were "very concerned" or "terrified" that the rising cost of living will affect their retirement plans, according to a survey by insurance provider Allianz Life

To stretch your savings, choosing the right destination once you've stopped working can make or break those lazy-day fantasies.

"When it comes to overall affordability, taxes and inexpensive healthcare are things that could really help stretch that fixed income even further," said Jill Gonzalez, an analyst with WalletHub, a personal finance site. 

To that end, WalletHub compared the retirement-friendliness of all 50 states and the District of Columbia using criteria such as cost of living, crime rate, tax-friendliness on pensions and Social Security income, number of health care facilities, access to public transportation as well as the number of golf courses and museums – this is retirement after all.

Some of the top spots were no surprise – hello, Florida. Others, like South Dakota and Iowa, were less expected. 

Here are the states that ranked the best for those golden years, according to WalletHub. 

Overall Rank
State
Total Score
Affordability Rank
Quality of Life Rank
Health Care Rank
1
Florida
69.22
1
11
24
2
Wyoming
67.81
4
25
19
3
South Dakota
67.06
15
33
2
4
Iowa
66.26
26
6
5
5
Colorado
64.85
27
17
7
6
Idaho
64.12
14
31
16
7
South Carolina
64
7
37
33
8
Nevada
63.64
6
9
42
9
Delaware
63.59
10
40
25
10
Wisconsin
63.34
33
5
4
11
Pennsylvania
63.23
20
4
32
12
Montana
63.08
23
24
13
13
Arizona
63.04
21
16
21
14
Missouri
61.73
22
18
28
15
Michigan
61.69
28
12
26
16
Washington
61.31
31
20
17
17
Utah
61.25
25
35
18
18
Texas
61.11
3
36
44
19
Virginia
61.08
19
23
31
20
Georgia
60.55
11
32
41
21
Minnesota
60.49
45
2
1
22
Maine
60.41
37
7
14
23
North Carolina
60.27
18
26
37
24
New Hampshire
60.24
35
19
11
25
Ohio
59.59
24
22
36
26
Oregon
59.47
30
30
22
27
Kansas
58.83
34
14
23
28
Oklahoma
58.47
12
39
43
29
Tennessee
58.26
5
38
47
30
Nebraska
57.78
40
28
8
31
Illinois
57.15
32
15
38
32
California
56.9
42
8
20
33
Louisiana
56.74
9
43
46
34
Indiana
56.67
29
29
40
35
Massachusetts
56.58
47
3
10
36
Alabama
56.46
2
47
50
37
Maryland
55.73
39
21
27
38
North Dakota
55.09
43
42
6
39
West Virginia
54.48
13
44
48
40
Mississippi
54.48
8
49
51
41
New York
53.54
46
1
30
42
Arkansas
53.45
17
48
45
43
Kentucky
53.27
16
45
49
44
Vermont
52.79
48
10
12
45
New Mexico
52.61
36
41
39
46
New Jersey
52.55
41
27
35
47
Hawaii
51.85
50
34
3
48
Connecticut
51.34
49
13
15
49
District of Columbia
50.96
44
51
9
50
Alaska
50.82
38
50
34
51
Rhode Island
43.84
51
46
29

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