Report: The Best and Worst States for Retirement

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Where you retire can have a huge bearing on how comfortable you are in your later years.

And it’s not all about money.

Finance site Bankrate.com’s list of best and worst places to retire shows the states that offer the most for retirees all-around.

What Are the Best States for Retirees?

To come up with its 2022 rankings, Bankrate used five categories. They’re weighted by the significance the survey placed on each factor:

  • Affordability: 40%
  • Wellness: 20%
  • Culture: 15%
  • Weather: 15%
  • Crime: 10%

Let’s first look at the best places for retirees to live, then we’ll consider the worst according to Bankrate’s rankings.

The 10 Best States for Retirees

Rank/StateOverall ScoreAffordability RankWell-Being RankCulture & Diversity RankWeather RankCrime Rank
1. Florida32.0418201527
2. Georgia30.3773537429
3. Michigan30.19139303626
4. Ohio29.791132342120
5. Missouri29.78336321942
6. Kentucky 29.2554750311
7. Texas29.07927481038
8. Tennessee28.85242331345
9. Pennsylvania28.102718153312
10. South Dakota 28.061533164122

Now let’s take a look at the 10 worst states to retire according to the rankings.

The 10 Worst States for Retirees

Rank/StateOverall ScoreAffordability RankWell-Being RankCulture & Diversity RankWeather RankCrime Rank
50. Alaska17.313628264849
49. Maine19.4841374502
48. California21.6149612738
47. New Mexico21.702245181250
46. Montana21.963131104729
45. Vermont22.2245233404
44. Maryland22.23434382229
43. Connecticut23.1048814394
42. Hawaii23.315028232
41. Washington23.49389283234

Read the full report from Bankrate.com.

Final Thoughts

Money expert Clark Howard says if you’re a retiree or are close to retiring, and you’re thinking about relocating, it’s good to take a gradual approach.

“One of my key rules is you should always rent first for six months, a year or even two years if you’re thinking about relocating for retirement. If it turns out that you don’t like it, at least you’re not all-in owning a home that you’ve now got to get rid of,” he says.

Relocating soon? Read our guide on how to find a good moving company.

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