The Best—and Worst—States to Retire To, Ep #53 

<p>Money is subjective, right? $1 million saved for retirement may not seem like much to one person. To someone else, it seems like a fortune. Whatever it is that you do have saved for retirement, you likely saved and invested for years. The decisions you make with what you have are crucial for your future success. You have to make the most with what you have. In some cases, that may mean retiring in a different state. What are the best states to retire to? What are the worst states to retire to? Find out in this episode of Retirement Made Easy!</p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[3:30] The factors taken into account</li> <li>[6:05] The 4 worst states to retire to</li> <li>[11:13] The best states to retire to</li> </ul> <h2>The factors considered in the debate</h2> <p>A lot of studies have been done on the best states to retire to. Kiplinger, Bankrate, AARP, and Retirement Living have all done studies on this topic. When you’re looking at these studies, it can seem somewhat subjective. What factors were considered? </p> <ul> <li>Taxes (property, state, sales, etc.)</li> <li>The cost of living for someone 65+ </li> <li>The access to, quality of, and cost of healthcare</li> <li>The weather in each state</li> <li>Poverty and crime rates</li> </ul> <p>Kiplinger’s study looked at the populations of people 65 and older in each state. Their study showed that 14.5% of the US population is 65+. So they look for higher or lower national averages in each state. For example, 19.% of the population of Florida is older than 65. </p> <h2>The 4 worst states to retire to</h2> <p>Three or four states stick out as the worst in multiple studies: New Mexico, Illinois, New York, and California. Here’s why: </p> <ul> <li><strong>New Mexico</strong>: The elevation is high, which can be hard for some people to acclimate to. Secondly, healthcare is expensive and limited. They have high poverty and crime rates. The sales tax is higher than the national average and the cost of living is high