Best and worst states for retirement ranked
Do you plan to "retire in place" and stay in your current area, or are you interested in retiring in a different state? In either case, you may want to consult a recent study by WalletHub if retirement is imminent.
The study ranked all 50 states using 41 statistical metrics that were weighted and grouped into three major categories important to retirees: affordability, quality of life, and healthcare. You may be surprised at some of the states in both the best and worst categories. Let's start with the top five.
Minnesota barely missed the top ten despite having number one rankings in both quality of life and healthcare, due to a dismal affordability ranking (42nd). Massachusetts also ranked high in quality of life and healthcare (second and fifth, respectively) and poorly in affordability (43rd).
Was your state not mentioned? Check the full study results for further details on your state's rankings and a breakdown of all the statistical metrics and weightings.
Of course, each state has areas that don't fit the rest of the state profile. Individual cities were ranked in a 2017 WalletHub survey, with the inclusion of an "Activities" ranking – and, while the results are similar, some differences emerge at the local level. For example, Louisiana fares poorly in the state rankings, but New Orleans ranks high in the city rankings (probably because, as you might expect, New Orleans ranks high for activities).
While the study is a useful baseline, it doesn't mean everyone should converge on Florida or flee Kentucky in his or her retirement years. Find an area that makes you happy and gives you a fulfilling and healthy lifestyle – just know where the strong and weak points are in your chosen retirement state.
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Originally posted at:https://www.moneytips.com/best-and-worst-states-for-retirement
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