When thinking of where to retire, locations such as Florida may come to mind as one pictures a life in the sun, or even near a beach.
However, this traditional retirement state doesn’t stack up so well against other more affordable areas. Bankrate conducted a new study examining eight key factors which were weighted in line with a nationally representative survey of non-retired adults.
These factors included, from most to least important, cost of living, healthcare quality, crime, cultural vitality, weather, taxes, senior citizens’ well-being and the prevalence of other seniors.
Perhaps unsurprisingly, Alaska came in last as it came in last in the weather and percentage of senior citizens categories. 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.
They survey found that Millennials are the most likely generation to consider moving to a different city or state when they retire at 58%, followed by Gen Xers at 46%, Baby Boomers at 37% and finally, the Silent Generation at 12%.
Out of all 50 states, here are the top five states to retire and their rankings:
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