Worst States to Retire in: If You Live in Any of These Places, You Might Need to Rethink Your Retirement Plan
Whether you’re already retired or getting close to it, there are a number of things to consider. While we might think about it in terms of savings, we also have to remember the importance of location. Retiring in an area with a higher cost of living can seriously reduce funds. Additionally, things like crime rates, weather, and city design can impact seniors’ daily lives.
Bankrate put together a list of the worst places to retire. They ranked states based on affordability, wellness, culture, weather, and crime. The study put the most emphasis on affordability and wellness. Below are some of the rankings of the worst U.S states to retire in. See the full list and additional information in this CNBC Report. For now, take a look at our short summary below.
- Arkansas, Alabama, and Idaho all rank poorly on overall health and wellness.
- Connecticut, Washington, and Maine are some of the worst places to live for affordibility.
- Minnisota and Maryland are going to cost you quite a bit due to cost of living.
- Alaska may not be the best choice either with middling scores across the board
When it comes to retirement, there are a lot of things to take into consideration. Clearly, affordability is one of the biggest factors in being able to retire successfully. The problem for many of our most vulnerable older Americans is that Social Security benefits do not offer enough. A bill we call The Greatest Generation Benefits Act will significantly increase Social Security benefits for seniors over age 82 – about $85 more a month. Sign our petition to Congress to pass this important legislation here.
