Downsizing and frequently relocating are often part of the transition to retirement. Where to relocate is a big decision and there are many factors to consider which I wrote about on HumbleDollar.
To the point: which are the best and worst states to retire? As you may guess Florida is number one. Sadly, my state where my family has lived since the 1840s is dead last.
Where do you want to live in retirement?
To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 47 key metrics. Our analysis examines affordability, health-related factors and overall quality of life.
- Mississippi has the lowest adjusted cost-of-living index for retirees, 85.87, which is 2.1 times lower than in Hawaii, where it is highest at 182.59.
- Louisiana has the lowest median annual cost of elderly housekeeping, $38,896, which is 1.8 times lower than in Washington, where it is highest at $71,294.
- South Dakota has the highest share of the population aged 65 and older still working, 22.98 percent, which is 1.7 times higher than in West Virginia, where it is lowest at 13.27 percent.
- Florida has the highest share of the population aged 65 and older, 20.10 percent, which is 1.9 times higher than in Utah, where it is lowest at 10.80 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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