Ad
related to: what is the best state to retire to in 2021 chartExplore T. Rowe Price® IRA Solutions. Open an Account Today. Put Our Active investing Approach to Work for You. Compare Our 401k and IRA Solutions.
- Retirement Calculator
Is Your Retirement on Track? Build
a Savings Strategy for Retirement.
- IRA: Roth vs. Traditional
Compare the Benefits of Both to See
What Best Fits Your Retirement Goal
- Retirement Calculator
Search results
Jul 19, 2021 · 1. Georgia. Affordability rank: 3. Wellness rank: 32. Culture rank: 41. 2. Florida. Affordability rank: 14. Wellness rank: 24. Culture rank: 15. 3. Tennessee. Affordability rank: 1. Wellness rank:...
- Francisco Velasquez
- 8 min
- How We Ranked The Best States For Retirement
- Best States to Retire in
- Worst States to Retire in
- Where Does Your State Rank?
- 7 Retirement Planning Tips
Our analysis focused on six key categories that are important considerations when choosing a retirement destination: cost of living, healthcare, climate, crime, and housing affordability. We also included net migration (over 65) as a further measure to track retiree flows. The free market is essential because it paints a broader picture of where pe...
1. South Carolina
With its warm climate, low cost of living, and influx of retirees, South Carolina is the best state to retire in. Based on core retiree expenses of groceries and transportation, we calculate that South Carolina is 4.7% cheaper than the national average. This ranks the state as the 10th most affordable for retirees. Healthcare is inexpensive, scoring as the 8th most affordable state. While not best in class for healthcare quality and access, it still fairs reasonably well, ranking 36th best. T...
2. Florida
Florida is a popular retirement destination, with nearly 13% net retiree migration. Sunny weather, reduced violent crime, and an influx of retirees make Florida a top choice to spend the golden years. Beyond that, over 21% of its population already exceeds 65, offering an established community to grow old, comfortably. Florida's climate leads the pack when considering retirement destinations, with average temperatures of 70.7 degrees, to enjoy pleasant outdoor living, year-round. Living costs...
3. Alabama
With strong affordability and reasonably warm weather, Alabama grabs the title of third-best retirement spot. Home to nearly 18% retirees already, Alabama offers established senior communities. It also has a healthy retiree migration rate of 1.9%, ranking it among the most popular destinations. Retirees appreciate Alabama's budget-friendly qualities, ranking in the top five for grocery and transportation affordability. Healthcare is also inexpensive, at 14% below the national average, though...
51. Alaska
Coming in at the very bottom of the Best States to Retire list is Alaska, mainly due to its challenging climate, high cost of living, and increasing number of violent crimes. Its frigid year-round temperatures, sparse population, and distance from critical amenities create significant headwinds. With average temperatures of 27 degrees and cost of living over 20% more expensive than the national baseline, Alaska proves brutally inhospitable and costly. Furthermore, at nearly 50% pricier, healt...
50. District of Columbia
As the seat of political power, Washington D.C. caters more to working professionals than retirees looking to relax, pushing it to second-worst place to retire in the country. The high costs, crime rates, and lack of senior amenities undermine livability. With housing prices more than double the national average, D.C. drains bank accounts, rapidly. Healthcare costs are nearly 20% higher than the national average, yet the quality and access rank amongst the worst. Violent crime is more promine...
49. New York
Home to Buffalo, Syracuse, and New York City, New York State has lots to offer. Retirement, however, is outside its agenda. The steep costs, crime rate, and climate make it an impractical choice for most pensioners. Given these factors, the state ranks worst for retiree outflows, at over 7% annually. Housing prices soar 77% above average, while temperatures average 38 degrees. Across its cities, New York State drains bank accounts rapidly while keeping retirees indoors. The state’s urban area...
Best states to retire in - a visual
*Note: A factor taking up more space means it’s better
Worst states to retire in - a visual
*Note: A factor taking up more space means it’s better While our methodology below explains everything in detail, we’ve provided rankings here. Since the first is the best rank, a lower score is better. The table below shows how your state ranks for each factor. Occasionally, two states have the same score for a specific category. When this happens, we assign a midpoint value between the corresponding points. For example, Nebraska and Wisconsin have identical net migration scores, ranking the...
1.Reduce debt, especially high-interest credit cards, throughdebt consolidation. Entering retirement debt-free is ideal.2.Learn how much you'll need to save for retirement and create a budget. Use aretirement planning toolto set savings targets and assess shortfalls. Adjust contributions accordingly.3.Catch up on retirement savingsby making significant spending cuts, increasing contributions, or stopping overpaying for home insurance.4.Assess when to begin claiming Social Security benefits for maximizing lifetime income. Learn ifclaiming benefits at 62 or 70 is better.- Freelance Writer
Jul 31, 2023 · The best state to retire is Iowa because of its lower cost of living, affordable but high-quality healthcare and low crime. Delaware, West Virginia, Missouri and Mississippi round out the top...
- Alex Gailey
People also ask
What are the best States to retire in 2021?
Which states are best for retirees?
What is the best state to retire on a fixed income?
What drives Bankrate to rank the best States for retirement?
Jul 13, 2020 · © 2021 The Kiplinger Washington Editors, Inc. For more news you can use to help guide your financial life, visit our Insights page. Finding the best state to retire can be difficult without doing some research. Use this interactive map to view how all 50 states plus the District of Columbia are ranked for their retirement-friendliness.
Feb 25, 2021 · The Best States for Retirement in 2021. And the ones you may want to avoid. Share full article. 952. By Michael Kolomatsky. Feb. 25, 2021. The golden years can offer great promise —...
- Michael Kolomatsky
Apr 29, 2024 · Virginia tops the list of the best states for retirement with excellent scores in affordability, quality of life, and healthcare. Florida is second on the list of best states to retire in, which is unsurprising due to its low costs, generous tax laws, and high quality of life.
Jul 7, 2021 · Jul 7, 2021, 11:19 AM PDT. Tybee Island, Georgia Chris Hondros/Getty Images. A study by Bankrate.com analyzed the best and worst US states for retirement. Georgia is ranked as the best...
