With nearly a third of all nonretirees having no retirement savings or pension because many simply cannot afford to contribute to any type of plan, the personal finance website WalletHub conducted an in-depth analysis that identifies 2016’s Best & Worst States to Retire.
To help retirees find a retirement-friendly home that won’t break the bank, WalletHub’s analysts compared the 50 states and the District of Columbia across 24 key metrics. Our data set ranges from the adjusted cost of living to the number of various entertainment options per capita to public-hospital rankings.
|Best States to Retire||Worst States to Retire|
|3||South Dakota||44||New York|
|4||South Carolina||45||West Virginia|
|9||Nevada||50||District of Columbia|
Comparing the Best & Worst
- The adjusted cost of living for retired persons is highest in Hawaii, which is two times greater than in Mississippi, the state with the lowest.
- The annual cost of in-home services is highest in North Dakota, which is two times greater than in Louisiana, the state with the lowest.
- The percentage of employed residents aged 65 and older is highest in Alaska, which is two times greater than in West Virginia, the state with the lowest.
- The percentage of the population aged 65 and older is highest in Florida, which is two times greater than in Alaska, the state with the lowest.
- The property-crime rate is highest in the District of Columbia, which is three times greater than in Vermont, the state with the lowest.
- The number of museums per capita is highest in New York, which is seven times greater than in Utah, the state with the lowest.