admin February 29, 2016 No Comments

coinTreeBrought to you by Wallethub.com

Based on affordability, health factors, such as hospital rankings, number of physicians and quality of life.

Retirement might be the end of the line, but it doesn’t have to be the end of financial security or life satisfaction. For many of us, our primary concern with retirement is timing, which often coincides with the age at which we become eligible to receive Social Security or pension benefits. Hopefully the choice will be ours and not dictated by our circumstances — the unfortunate case for nearly a third of nonretirees who haven’t put away a single penny for retirement, though not necessarily through any fault of their own.

But in addition to when you want to retire, you might want to ask yourself where. That can be an awfully difficult question to answer if you haven’t adequately planned — or been able to plan — for the rest of your life. Even in the most affordable areas of the U.S., retirees often cannot rely on their Social Security or pension checks alone to cover all of their living expenses. Social Security benefits increase progressively with local inflation, but they replace only about 40 percent of the amount you earned if you were an average worker, according to the Center on Budget and Policy Priorities.

If retirement is still a big question mark for you because of finances, we recommend you consider relocating to a retirement-friendly state — one that will let you keep more money in your pocket without drastically modifying your lifestyle. WalletHub’s analysts compared the 50 states and the District of Columbia across 24 key metrics to help you find that permanent, and affordable, place to call home when you’re ready to leave the workforce. Of course, affordability shouldn’t be your only priority in retirement, which is why our analysis also explores health-related factors and overall quality of life. Scroll down for the results.

Overall Rank

State

Total Score out of 100
1 Florida 70.75
2 Wyoming 67.09
3 South Dakota 66.62
4 South Carolina 62.50
5 Colorado 62.23
6 Idaho 62.19
7 Texas 61.85
8 Montana 61.39
9 Nevada 61.19
10 Virginia 61.06
11 Arizona 61.01
12 Pennsylvania 60.41
13 Iowa 59.86
14 Missouri 59.07
15 California 59.01
16 Delaware 58.68
17 Michigan 58.36
18 Wisconsin 58.31
19 Oklahoma 58.00
20 Georgia 57.84
21 Minnesota 57.80
22 North Carolina 57.58
23 Utah 57.26
24 Washington 57.11
25 Louisiana 57.07
26 Tennessee 56.80
27 Ohio 56.12
28 Mississippi 55.99
29 Oregon 55.80
30 Maine 55.69
31 Illinois 55.57
32 New Mexico 55.42
33 Kansas 54.94
34 Indiana 54.25
35 Alabama 54.07
36 North Dakota 54.06
37 Nebraska 53.95
38 New Hampshire 52.60
39 Massachusetts 52.59
40 Arkansas 52.15
41 Kentucky 51.73
42 Maryland 51.25
43 Alaska 50.99
44 New York 50.46
45 West Virginia 49.79
46 New Jersey 49.54
47 Vermont 47.58
48 Connecticut 46.65
49 Hawaii 46.17
50 District of Columbia 43.97
51 Rhode Island 36.95