Where a person determines they are going to retire is a very important decision in their life. Affordability, climate, and community are considerable factors that retirees should take into account when considering where to settle, especially if they are relocating. The number of United States citizens retired and expected to do so is growing. This year alone, a record 4.1 million people in the United States are expected to turn 65, the average retirement age.
“The reality is that most Americans feel like they haven’t saved for retirement, which means affordability is key,” said Bankrate analyst Alex Gailey. “Moving somewhere more affordable could be an effective way for future retirees to make the most of their retirement savings in this economy.” Here we will tell you about the five best and five worst states to retire in, according to specialists, among the most important factors are affordability, general well-being, the cost, and quality of healthcare, the climate, and crime.
These Are the Five Worst Places to Spend Your Last Years
North Dakota It is the fifth worst place to retire in 2024. A mix of cold weather and average affordability makes it one of the least attractive states for retirees. Despite having a warmer climate, California it was ranked the fourth worst place for retirees. One of the main factors is the state’s high cost of living and the general need for affordability, especially for those people who live off their savings.
The lack of affordability and a not very favorable climate, where it rains a lot, put the Washington the third worst state for retirement. And the state considered the second worst state to retire in was New York. Its low affordability and colder climate make it a not very attractive option for retirees looking to settle down. The worst state to retire in 2024 was Alaska. That state came in last place for its low scores on both affordability and climate.
The Best Destinations to Retire Within USA
- Missouri of the states with the most affordability, making it one of the top 5 locations to retire in the United States the previous year. However, the state has problems with the quality of health care, crime and natural disasters.
- South Carolina, it is in the top 5 this year, in fourth place in the rankings. The state’s affordability and pleasant climate make it one of the best states to retire this year.
- Georgia, with third place, it is a state that wasn’t even in the top five the year before. Its position in the top 5 is due to its affordability and warm climate.
- Virginia Occidental went up to second place this year. The state had the best affordability of the 50 states in the United States. For the second year in a row, with a low cost of living and low tax rates.
- Delaware subtype ofhe second-best state to be the best state to retire in by 2024, thanks to its top-notch healthcare, low taxes, and middling climate.
Delaware surpassed Iowa and took first place in this year’s ranking of the best and worst states to retire, although it is true that Delaware is a more expensive state to live in, high-quality medical care, tax burden light, affordable home insurance and great weather put it in first place this year. Delaware also scored highly for diversity, well-being and culture and has a large proportion of residents aged 62 and older compared to its population.” Iowa dropped from first to ninth place this year.