Best Places to Live In Retirement
Things are changing when it comes to retirement. In the past, going to a famously warm state was a no-brainer for millions of Americans. But things changed.
For instance, would you think of New Hampshire as a great state to retire to? How about Colorado, Maine, Iowa and Minnesota?
All of these places are cold, after all. They are not what we consider “retirement places.” And yet, these are the best five states to retire, according to a new Bankrate.com report.
The study examined eight key factors which were weighted in line with a nationally representative survey of non-retired U.S. adults. From most to least important, the categories were: cost of living, healthcare quality, crime, cultural vitality, weather, taxes, senior citizens' well-being and the prevalence of other seniors.
New Hampshire ranked in the top five for seniors' well-being (second-best), crime (third-lowest) and healthcare quality (fourth-best). It scored sixth-worst for weather yet still took the top overall spot thanks to its strength elsewhere.
What About Florida?
Arizona, Florida and Nevada are popular retirement destinations, however, none cracked the top 10. Arizona came in 12th (while it scored lots of points for weather, it failed to make the top 10 in the other seven classifications).
Florida was 17th (it has the nation's highest percentage of residents age 65 and older but didn't sniff the top 10 in any other area). And Nevada was nowhere close to the top (#44). It rated very well for weather and taxes but was pulled down by the nation's worst healthcare quality and its fourth-highest crime rate.
Alaska came in last overall and in two of the eight categories (weather and the percentage of senior citizens). It was also dragged down by the second-highest crime rate, the third-highest cost of living and the fifth-worst score for healthcare quality.
West Virginia is the second-worst place to spend one's golden years, followed by Arkansas, New Mexico and Louisiana.
The study found about half of non-retired U.S. adults would consider moving to a different city or state when they retire. The percentage is greatest among millennials (58%) and falls to 46% of Gen Xers, 37% of Baby Boomers and 12% of the Silent Generation.
Tennessee came in middle of the pack at 27. What do you think? Where are you planning to retire? Let us know on Facebook.
For a full list of states, click HERE.