Retirement living is a fun time for many people. You get to enjoy the fruits of your years of labor while possibly taking on new hobbies to enjoy. However, where you spend your retirement years can seriously help or hinder those desires.
Here are the 11 worst states for retirees. Keep them in mind as you plan your golden years.
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Alaska
Thinking of moving to enjoy the Northern Lights? Think again if you’re approaching retirement. The state ranks dead last in many studies.
It ranks 43rd in affordability and a surprising 49th in crime. It’s middle-of-the-road for well-being, assuming you don’t mind six months of darkness annually.
Oh, and the cold doesn’t help it much, either.
New York
New York has a lot to offer, just not for retirees. It’s bottom of the barrel for affordability and 37th for cost of health care.
Taxes play a huge role, so it may be best to look elsewhere.
California
California has everything, including terribly high housing costs and a ranking of 38th for crime.
While it is terrific for cost of health care in terms of quality, ranking at sixth, and weather, 12th, it also has crazy high taxes. The sun tax definitely has its costs.
Washington
Washington State has a lot to offer, especially if you like the Pacific Northwest. However, you might be better served choosing a different locale for retirement.
It ranks 47th for affordability and below average for crime, at 34th. While it does have an excellent cost to quality of health care coverage at second in the nation, that’s about all it has going for it.
Massachusetts
Massachusetts is a great place to visit, especially with all of its history. You might want to leave it at that in your retirement years, though.
It ranks 48th in affordability and 27th in cost to quality of health care coverage. It does have a low crime rate, at tenth in the nation, but the costs don’t justify it.
Maryland
Maryland is another state that’s just too expensive for retirees. It ranks 46th in affordability, with an admittedly good ranking of 12th in the nation for cost to quality of health coverage.
Unfortunately, it makes up for it with sky-high taxes and an estate tax.
Wyoming
Not to knock it, but have you been to Wyoming? It is a land of wide open spaces, but there’s little opportunity in the state for retirees.
It does rank well for affordability, coming in ninth, and crime at seventh. However, it ranks 47th for weather, and it has an expensive cost to health coverage of 37th.
West Virginia
West Virginia is a beautiful state. It’s also the most affordable in the nation.
Unfortunately, it makes up for that with the most expensive health care in the country. If you’re healthy and don’t plan on needing access to extensive health care, you might be fine. If not, you could be in trouble.
Oregon
Oregon is another expensive state to retire, coming in at 37th for affordability. The state does have quality health care coverage, coming in at 5th in the nation.
It makes up for that with high income taxes, and most retirement income is taxable. Count on a high tax bill if you choose Oregon.
North Dakota
North Dakota shares some similarities with Wyoming. It’s relatively affordable, ranking 26th in the nation.
Unfortunately, it has expensive health care options, ranking 40th in cost to quality and an accompanying 39th in well-being. Plus, many forms of retirement income are taxable.
New Hampshire
New Hampshire is below average for affordability, coming in at 38th, and nearly equal level for health care at 31st for cost to quality received.
While it does rank first for crime, it has high property tax rates and limited culture.
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I’m John Schmoll, a former stockbroker, MBA-grad, published finance writer, and founder of Frugal Rules.
As a veteran of the financial services industry, I’ve worked as a mutual fund administrator, banker, and stockbroker and was Series 7 and 63-licensed, but I left all that behind in 2012 to help people learn how to manage their money.
My goal is to help you gain the knowledge you need to become financially independent with personally-tested financial tools and money-saving solutions.
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