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Best States to Retire

Best States to Retire

2020’s Best States to Retire – WalletHub Study


News Staff - January 13, 2020

UNDATED - With 26 percent of all nonretired adults having no retirement savings or pension, the personal-finance website WalletHub today released its report on 2020’s Best States to Retire as well as accompanying videos.

To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 47 key metrics. The data set ranges from adjusted cost of living to weather to quality of public hospitals.

South Dakota ranked 11th in the study. It ranked 26th for affordability and 27th for quality of life, but ranked 7th for health care.
 

Best States to Retire   Worst States to Retire
1. Florida   41. Louisiana
2. Colorado   42. New York
3. New Hampshire   43. Mississippi
4. Utah   44. Arkansas
5. Wyoming   45. Tennessee
6. Delaware   46. West Virginia
7. Virginia   47. New Jersey
8. Wisconsin   48. Rhode Island
9. Idaho   49. New Mexico
10. Iowa   50. Kentucky

 
Best vs. Worst

  • Mississippi has the lowest adjusted cost-of-living index for retirees, 84.51, which is 2.4 times lower than in Hawaii, where it is highest at 200.27.
     
  • Louisiana has the lowest median annual cost of elderly housekeeping, $38,621, which is 1.8 times lower than in Washington, where it is highest at $68,640.
     
  • Vermont has the highest share of the population aged 65 and older still working, 24.39 percent, which is 1.8 times higher than in West Virginia, where it is lowest at 13.84 percent.
     
  • Maine has the highest share of the population aged 65 and older, 20.60 percent, which is 1.9 times higher than in Utah, where it is lowest at 11.10 percent.

 
To view the full report and your state’s rank, please visit: 
https://wallethub.com/edu/best-and-worst-states-to-retire/18592/



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