One of the biggest concerns for an aging Baby Boomer generation is where they should live once they retire. Using data from Gallup-Healthways Well-Being Index, the Agency for Healthcare Research and Quality and other sources,Bankrate recently ranked all 50 U.S. states from best to worst for retirees.
Considerations
Bankrate considered a wide range of variables, including cost of living, quality of health care, taxes, crime and overall well-being. The single common thread among the top 10 states on Bankrate’s list is cost of living. All 10 of the top names have a cost of living below the national average.
Surprises
Perhaps it comes as no surprise that the stressful and expensive city environment in New York makes it the worst state in which to retire. However, stereotypical retirement destinations Hawaii and Florida also came in surprisingly low in Bankrate’s list.
“Sure, it’s nice to escape frosty winters and feel that famous Florida sunshine, but beach weather isn’t the only thing retirees are looking for these days,” Bankrate’s Corie Hengst explains. “They also want a place where they can stretch their retirement savings and maintain a great quality of life.”
Traditional retirement states Florida and Hawaii came in 28th and 45th, respectively, in the list. Arizona, another popular retirement destination, fared a bit better by coming in at 9th place.
Best of the Best
- Virginia
Virginia was…
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