BEST AND WORST STATES FOR RETIREMENT

RETIREMENT – MARK DENNETT (RETIREUSA EDITOR) – With 31 percent of all nonretired adults having no retirement savings or pension because many simply cannot afford to contribute to any type of plan, the personal-finance website WalletHub conducted an in-depth analysis identifying 2017’s Best & Worst States to Retire. To help retirees find a retirement- and wallet-friendly place to call home, WalletHub’s analysts compared the 50 states and the District of Columbia across 31 key metrics. The data set ranges from “adjusted cost of living” to “weather” to “quality of public hospitals.”

  Best States to Retire   Worst States to Retire
  1 Florida   42 Arkansas
  2 Wyoming   43 Kentucky
  3 South Dakota   44 Vermont
  4 Iowa   45 New Mexico
  5 Colorado   46 New Jersey
  6 Idaho   47 Hawaii
  7 South Carolina   48 Connecticut
  8 Nevada   49 District of Columbia
  9 Delaware   50 Alaska
  10 Wisconsin   51 Rhode Island

Best vs. Worst

  • Mississippi has the lowest adjusted cost-of-living index for retirees, 85.6, which is 1.9 times lower than in Hawaii, where it is highest at 165.3.
  • Louisiana has the lowest annual cost of in-home services, $34,892, which is 1.8 times lower than in North Dakota, where it is highest at $63,972.
  • Alaska has the highest share of the population aged 65 and older working, 22.34 percent, which is 1.8 times higher than in West Virginia, where it is lowest at 12.32 percent.
  • Florida has the highest share of the population aged 65 and older, 18.6 percent, which is 2.1 times higher than in Alaska, where it is lowest at 9.0 percent.
  • Vermont has the lowest property-crime rate per 1,000 residents, 14.07, which is 3.3 times lower than in the District of Columbia, where it is highest at 46.76.

To view the full report your state or the District’s rank, please visit:  https://wallethub.com/edu/best-and-worst-states-to-retire/18592/

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