15.
Blink, and you might miss Connecticut. But you won’t be able to ignore the cost
of living or tax rates in this tiny state, no matter how hard you try. Both
WalletHub and Bankrate look down on its financial burden
for retirees. But sufficient scores for culture, health, and quality of life
shine through. So retirees must weigh the pros and cons of choosing this state
as their retirement home.
14.
There’s no specific category that makes Indiana stand out as the absolute worst.
But overall lackluster scores across the retirement board are enough to land the
state on our ultimate retirement cheat sheet. Many people would list health care
as an important factor when choosing where to retire. And unfortunately, Indiana
has some work to do in that respect.
13.
Reality TV once
made the Jersey Shore a popular tourist destination for beachgoers. But even
before cameras and fist-pumping squirmed its way into this state’s legacy, the
shore was packed with retirees passing the time on one of the many
family-friendly beaches New Jersey offers. But both WalletHub and Bankrate would
urge retirees to consider other locations to serve their latter years. Taxes are
high, and the cost of living can do some serious damage to your
savings.
12. With a dismal “senior” metric, retirees in Maryland
might have a tough time finding other retired friends to play tennis or golf
with. Like many of the nearby states, the cost of living will be higher than
most. Taxes are also quite high, according to a separate WalletHub survey based
on the median U.S income. Residents pay $6,470 in annual state and
local taxes. But if they have any money to spare, retirees can enjoy the
waterways and coastlines of the Chesapeake Bay during the summer
months.
11.
Of course, New Yorkers will never run out of things to do, and retiring here
could be beneficial if you commonly crave Chinese food at 3 a.m. But for those
living upstate or attempting to skate by on a tight budget, a typical New York
lifestyle will be hard to maintain. High cost of living and even higher tax
rates bring down the retirement group
average, regardless of its top score for the culture metric.
10. The abundant California sunshine will come at a steep price,
something many retirees fear on a fixed income. It has high taxes, bad health
care, and a high cost of living. That might surprise some, as life expectancy is
higher in this state than all others. So if you’re one of the few who
feel financially
prepared to support your retirement
lifestyle, then California’s access to culture might outshine its pricey
pads.
9.
Bluegrass, bourbon, and horse racing. Will there ever be a better combination?
Those of you wanting more should consider retiring elsewhere. Despite its low
cost of living, resident retirees might have trouble finding entertaining ways
to enjoy themselves. What’s worse is Kentucky ranks quite low in health care
quality and well-being, a big red flag for retirees.
8.
Bankrate scores Oklahoma well for affordability, from cost of living to taxes.
But it’s falling short in all other imperative retirement categories. If your
vision of an agreeable retirement includes a low life expectancy, high crime
rates, and even worse scores for overall senior well-being, then pack a bag and
head for the Sooner State.
7.
Arkansas is the state that gave us Wal-Mart, so we already know it scores big
points for affordability. But the positives outweigh the negatives, as it
has high crime rates, a low culture rating,
and has been named one of the unhealthiest states in
America. Retirees looking for a life of good health,
entertaining nights, and a safe neighborhood to grow old in should look
elsewhere.
6.
In West Virginia, residents enjoy the ability to live life on a fixed income.
However, it’s unclear how much “living” you’ll get to do in this state with
limited access to cultural amenities. Bankrate plants it dead last for
well-being, too. And it has one of the lowest life expectancies in the
country.
5.
Those placing precedent on money should consider moving to Mississippi. A low
cost of living, ranked No. 1 by Bankrate and WalletHub, might be most important
to budget-conscious retirees. But your quality of life might suffer as a result.
So retirees who wish to have their cake and eat it, too, might want to relocate
out of Mississippi. The state also scores dismally for categories, including
health care and culture.
4.
For people on a fixed income, any cost that could raise monthly expenses is
cause for worry. WalletHub reports Rhode Island has some of the biggest
budget-crushing tax rates in
the U.S. The average resident shells out$7,367 annually in state
and local taxes.
Throw a poor culture rating into the mix, as well as a chilly weather score, and
retirees here will be longing for warm sunshine and white sand by
November.
3. Despite gorgeous weather year-round, utility bills in Hawaii
are high, averaging over $187 a
month for just electricity. Both WalletHub
and Bankrate score this culture-rich state with the highest cost of living
nationally. Still, this tropical oasis scores No. 1 for resident
well-being.
2. Yes, New Mexico might be on the podium for states with the
best weather conditions. But its average temperatures get overlooked by
seriously lacking health care and disheartening tax rates. Even worse,
it’s ranked as the absolute worst state for crime, according to Bankrate, with
WalletHub citing its property crime rates as dangerous. Cities,
including Gallup and
Espanola, are considered the most
dangerous.
1. Alaska outshines its competitors by drawing consistently
terrible scores in affordability, health care, culture, percentage of other
retirees in the area, and crime. But worst of all, the dreary weather patterns
will get you. Northern lights will only keep you sane for a few months before
the snow and clouds push you over the edge. Maybe the Alaska weather is why
retirees tend to fly south for the winter.
