What is the best country to retire in? Hint: this isn't Florida.
A new study ranked all 50 US states across five categories to find which are most conducive to retirement.
If you are nearing retirement, there are important real estate decisions to make. Living on a fixed income often affects transition, but it's not the only thing to consider.
A new Bankrate study ranked all 50 US states in five separate categories to determine which were the best (and worst) to retire in. The probability of achievement category carries the most weight - 40 percent of each country's score. The cost and quality of health care were worth 20 percent. The welfare category, measuring opportunities for recreation, the number of adults per capita and other data, accounted for 25 percent. The weather was worth 10 percent, and the crime rate 5 percent.
Best
Who needs warm weather all year round? Topping the list for the best retirement state was Iowa, which finished third in affordability and 11th in healthcare. Next came Delaware, where residents pay a little more (18th for affordability), but are still happier than most (second in comfort). West Virginia, the most affordable US state, was ranked third, followed by Missouri (fifth most affordable) and Mississippi (second most affordable, seventh best in terms of weather).
In case you're wondering, the Florida retirement mecca finished eighth overall, with third-place scores in both the well-being and weather categories.
Worst
The bottom five states in the study begin in Massachusetts, the third least-paying state. Washington was ranked 47th for affordability, although it was second in the health care category. They were followed by California (second least affordable) and New York (lowest affordable, not surprising). And in the rear was Alaska, perhaps the most naturally beautiful state, yet dragged down by its brutal winter weather and low crime rate.
Your journey is personal, of course, so scan Bankrate's research for the lifestyle metrics that matter most to you. And maybe, take a cue from New Yorkers: even with an overall 49th place, New Yorkers enjoy life just fine (the state ranks fourth in well-being). Maybe money can buy happiness after all.
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