These are the top 5 states for retirement, according to new survey

Retirement


When middle-aged and older Americans are considering where they want to spend the golden years of their lives, many factors come into play, from available medical options to taxes and weather. A complete, data-driven report to help narrow down your options in post-retirement research is very helpful.

WalletHub’s 2023 Best States to Retire list not only shares the ranking of the states, but also the factors they used to create the lineup.

According to the site, the top five states to retire are Virginia, Florida, Colorado, Wyoming and Delaware, in that order. You can see the rest of the state rankings in the WalletHub report.

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WalletHub uses 47 “key metrics” to calculate its ranking in three areas: affordability, quality of life and healthcare.

Affordability includes factors such as adjusted cost of living, tax affordability, and the cost of home services and adult day care.

Quality of life factors include the risk of social isolation, food insecurity among older people, crime rates, access to public transport, mild climate, air and water quality, and availability of recreational facilities such as museums. includes a number. We also looked at the percentage of residents who liked doing things for their neighbors.

Health care factors include the number of fully vaccinated adults against COVID-19, the number of health care professionals and facilities per capita, the physically active population aged 65 and over, and life expectancy. Includes metrics.

A doctor holds a woman's hand in a hospital bed.
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WalletHub also drew on six experts in fields such as aging and finance to ask questions like common retirement planning mistakes and how recent inflation might affect people’s retirement plans. I worked on

“Some may find that retirement can be socially and sometimes financially isolating, and that being too far out of social circles can be emotionally and financially costly.” , Tunde Odusami, associate professor of finance at Widener University, told WalletHub.

And University of Florida professor Stephen Gollant points out that the primary caregivers for older people are often family members.

“As a result, retirees can live near a trusted and caring adult daughter, daughter-in-law, or son who can help them stay home, resulting in more expensive housing options and higher taxes. You may want to allow some places, despite mobility or health issues,” Golan told WalletHub.

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WalletHub’s list is one of those “best places to retire” lists that come up regularly.

Another recent retiree list, The Motley Fool’s “Best States to Retire, Based on What People Really Want,” found that Ohio topped the list, with half of the top 10 states Located in the Midwest. Iowa, Minnesota, Florida and Nebraska round out the top five.

The list is based on a survey of 1,500 U.S. residents age 55 and older, who said they had “high quality of life, low housing costs, high quality health care, reasonable health care costs, low crime rates.” low income, good sanitation and low taxes are the highest.” An important factor for them when considering where to retire.

Bankrate’s 2022 list of the best and worst states for retirees uses affordability, wellness, culture, weather, and crime to create the list, with affordability as the top factor. increase. Florida, Georgia, Michigan, Ohio, and Missouri are in the top five.

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What factors are most important to you when considering retirement?



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