Retirement is something that many people look forward to. But where you retire can have a huge impact on your quality of life.
Finance site BankRate.com recently updated its list of best and worst places to retire.
What Are the Best States for Retirees in 2021?
To come up with its rankings, BankRate used five categories. Here they are 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 rankings.
The 10 Best States for Retirees
| State | Overall Score | Affordability Rank | Wellness Rank | Culture Rank | Weather Rank | Crime Rank |
|---|---|---|---|---|---|---|
| 1. Georgia | 17.25 | 3 | 32 | 41 | 4 | 29 |
| 2. Florida | 17.45 | 14 | 24 | 15 | 14 | 27 |
| 3. Tennessee | 18.85 | 1 | 42 | 29 | 8 | 45 |
| 4. Missouri | 20 | 3 | 34 | 34 | 18 | 42 |
| 5. Massachusetts | 20.7 | 42 | 1 | 12 | 6 | 10 |
| 6. Wyoming | 21.95 | 17 | 28 | 10 | 49 | 7 |
| 7. Arizona | 22.05 | 16 | 27 | 40 | 1 | 41 |
| 8. Ohio | 22.85 | 19 | 31 | 32 | 15 | 20 |
| 9. Indiana | 22.95 | 7 | 41 | 45 | 20 | 22 |
| 10. Kentucky | 23.25 | 14 | 46 | 47 | 2 | 11 |
Now let’s take a look at the 10 worst states to retire, according to the rankings.
The 10 Worst States for Retirees
| State | Overall Score | Affordability Rank | Wellness Rank | Culture Rank | Weather Rank | Crime Rank |
|---|---|---|---|---|---|---|
| 50. Maryland | 33.75 | 47 | 4 | 39 | 36 | 29 |
| 49. Minnesota | 30.65 | 39 | 15 | 34 | 35 | 17 |
| 48. Kansas | 30.15 | 24 | 26 | 38 | 41 | 35 |
| 47. Montana | 30.05 | 33 | 33 | 2 | 47 | 29 |
| 46. Alaska | 29.7 | 25 | 23 | 20 | 48 | 49 |
| 45. Maine | 29.65 | 40 | 29 | 1 | 50 | 2 |
| 44. Arkansas | 29.65 | 19 | 49 | 42 | 9 | 46 |
| 43. Alabama | 28.7 | 8 | 44 | 43 | 39 | 44 |
| 42. Idaho | 28.15 | 22 | 39 | 30 | 43 | 6 |
| 41. Connecticut | 28.15 | 49 | 7 | 9 | 36 | 4 |
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.
