Best and Worst States to Retire

NEW YORK, March 29, 2017 /PRNewswire/ -- New Hampshire is the best state to retire, according to a new Bankrate.com report. Colorado, Maine, Iowa and Minnesota comprise the rest of the top five. Click here for the full list:

http://www.bankrate.com/retirement/states-ranked-from-first-to-worst-on-retirement-2/

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.

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.

"What people think they want in retirement may not end up being what serves them best over the long run," said Bankrate.com analyst Claes Bell, CFA. "It's about a lot more than sunny skies, beaches and golf courses. As you get older, practical considerations like healthcare, taxes and proximity to family and friends become much more important."

Sources: Agency for Healthcare Research and Quality, American Public Health Association, Council for Community and Economic Research, Creative Vitality Index, Federal Bureau of Investigation, Gallup-Healthways, National Oceanic and Atmospheric Administration, Partnership for Prevention, Tax Foundation, Princeton Survey Research Associates International, United Health Foundation, United States Census Bureau

About Bankrate.com:

Bankrate.com provides consumers with the expert advice and tools needed to succeed throughout life's financial journey. For over two decades, Bankrate.com has been a leading personal finance destination. The company offers award-winning editorial content, competitive rate information, and calculators and tools across multiple categories, including mortgages, deposits, credit cards, retirement, automobile loans, and taxes. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to more than 100 cobranded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the internet, such as Comcast, Yahoo!, CNBC and Bloomberg. In addition, Bankrate licenses editorial content to more than 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times and The Los Angeles Times.

For more information:

Ted Rossman
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917-368-8635

SOURCE Bankrate.com