For the second consecutive year, Alaska has been ranked as the least favorable state for retirees, as per a recent Bankrate study. The financial services company analyzed all 50 U.S. states, considering factors such as affordability, well-being, healthcare quality, and cost, weather, and crime rates.
Alaska’s chilly temperatures contributed to its low ranking, landing at 50th place in the weather category. However, it performed slightly better in affordability, health care, and well-being.
Surprisingly, New York, which placed 20th in last year’s ranking, took the 49th spot this time. The high cost of living in the Empire States led to its last-place position in affordability. On the other hand, New York scored better in the weather, health care, crime, and well-being categories.
California maintained its position as the third worst state for retirees. The Golden State’s housing shortage resulted in rising living costs, earning it 49th place in affordability, closely trailing behind New York.
The tweet below verifies the news:
Here are the best and worst states for retirement in the United States – and surprisingly, Florida did not take the top spot. Florida didn’t even make the top 5. Here’s why. https://t.co/h817jxwii6
— FOX 35 Orlando (@fox35orlando) August 3, 2023
Bankrate’s study reminds retirees that choosing a location is a personal decision, requiring consideration of factors like retirement budget and preferred activities. Relocating closer to family or a state with a lower cost of living may be preferable for those residing in expensive areas.
Experts advise potential retirees to visit their desired destination before making a final decision. Spending time in the area and becoming part of the community can help ensure a smooth transition into retirement life.
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