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Best States To Retire

by Invitado
florida- EMEDIA

WalletHub

Retirement might be the end of your career, but it doesn’t have to be the end of financial security or life satisfaction.

Retirement generally coincides with the age at which we may receive Social Security or pension benefits. However, not everyone can retire when they want to. In fact, in 2019, 26 percent of non-retired adults had no money saved for retirement, though not necessarily through any fault of their own. Furthermore, with the financial stress Americans have faced during the COVID-19 pandemic, it’s likely that many were unable to save in 2020 as well. A recent study even found that a quarter of Americans expect to retire later than originally anticipated due to the economic impact of COVID-19.

Florida Is 2021’s Best State to Retire

In addition to when to retire, a good question to ask is where. Finding the best states to retire can be difficult without doing lots of research. Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses. Social Security benefits increase with local inflation, but they replace only about 39 percent of the average worker’s earnings. Plus, while affordability is one of the biggest concerns when deciding where to retire, there are plenty of other factors to consider like how safe the state is and how good its health care is (especially during the COVID-19 pandemic), as well as what activities it offers to keep retirees busy.

If retirement is still a big question mark for you because of finances, consider relocating to a state that lets you keep more money in your pocket without requiring a drastic lifestyle change. To determine the best states to retire, WalletHub compared the 50 states across 45 key indicators of retirement-friendliness. Our analysis examines affordability, health-related factors and overall quality of life.

Best & Worst States to Retire

Overall Rank  State Total Score  Affordability  Quality of Life  Health Care 
1 Florida 61.09 4 6 28
2 Colorado 60.94 13 16 5
3 Delaware 58.69 5 29 22
4 Virginia 58.61 11 7 23
5 North Dakota 57.49 24 18 6
6 Montana 57.35 12 22 15
7 Idaho 57.28 16 11 25
8 Utah 57.11 21 4 26
9 Minnesota 56.33 37 3 2
10 New Hampshire 56.29 30 1 9
11 Wyoming 56.19 14 13 29
12 Missouri 54.64 20 36 12
13 South Dakota 54.04 22 26 18
14 South Carolina 53.18 3 37 41
15 North Carolina 53.14 19 24 34
16 Iowa 52.68 34 8 8
17 Arizona 52.49 15 28 35
18 Hawaii 52.40 38 30 1
19 Wisconsin 52.24 32 15 16
20 Vermont 51.39 48 5 3
21 Michigan 51.33 31 21 17
22 Ohio 51.10 25 23 31
23 Nebraska 50.55 36 19 10
24 Nevada 50.44 7 39 40
25 Alaska 49.79 39 33 4
26 Georgia 49.33 9 42 42
27 Alabama 49.20 1 45 48
28 California 48.98 29 31 30
29 Massachusetts 48.86 44 2 19
30 Indiana 48.85 26 34 37
31 Washington 48.75 43 10 7
32 Pennsylvania 48.64 35 12 32
33 Maryland 48.37 41 9 14
34 Louisiana 48.27 8 46 43
35 Tennessee 48.16 2 49 47
36 Kansas 47.84 27 32 39
37 Maine 47.71 46 14 11
38 Arkansas 47.54 6 48 45
39 Oregon 47.02 42 20 13
40 Oklahoma 46.47 17 44 44
41 Illinois 45.88 40 27 21
42 Texas 45.85 28 40 38
43 Connecticut 44.35 47 25 20
44 West Virginia 44.12 18 41 50
45 Kentucky 43.78 23 43 46
46 Rhode Island 42.85 45 38 24
47 New Mexico 42.68 33 47 36
48 Mississippi 41.88 10 50 49
49 New York 41.86 49 17 27
50 New Jersey 37.41 50 35 33

Full report

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