5 of the Worst States to Retire In
Many people choose to move after retirement — either to be somewhere warmer, somewhere more affordable or otherwise desirable, or somewhere closer to family. There are many things you should consider when choosing your retirement home, and location is one of the most important. Unfortunately, there are some places that are not ideal for retirement. While it’s true that the five states mentioned in this article might be right for some people, overall, they are not ideal retirement locations for several reasons.
Bankrate recently came out with the list 2014s Best Places to Retire: How Your State Ranks, and our list of the worst states to retire to is based on the cost of living, crime rate, healthcare quality, state and local tax burden, personal well-being, and weather data that it collected. The states were ranked from 1-50 (one being the best), but we are highlighting the bottom five. Take a look — many of them might surprise you. We also highlighted the best state for retirees in case you are curious.
1. New York
New York came in on Bankrate’s list as number 50, the worst state for retirees. New York got a 65.5 score for well-being (scores were based on the Gallup-Healthways Well-Being Index and indicated that residents were happy with their surroundings), which isn’t a bad score. However, the cost of living score of 129.1 is high, and much of New York is very expensive to live in. The tax burden was 12.6 (percent of state income), making it the highest out of all fifty states. Although in the past people often thought of New York as a pretty violent place to live, the violent crime score of 406.8 violent crimes per 100,000 people isn’t as high as many other states — but it isn’t low either. The property crime score of 1,922 crimes per 100,000 people is actually low compared to other states. For possible sunshine, the state received a 50.8, which was one of the lowest scores on the list. In addition, New York gets very cold and often gets a lot of snow, which many people don’t like.