In a study heavily weighted for affordability, Fla. “unsurprisingly took the top spot,” while Alaska, despite its affordability, came in last.
MIAMI, Fla. – Whether it’s kicking back on the porch reading the newspaper, enjoying the outdoors or just being closer to the grandkids, post-career goals vary for people. But all states are not the same when it comes to retirement, a recent study from Bankrate found.
Bankrate conducted a study to find the best and worst states for retirement in 2022.
“For this study, Bankrate looked at five broad categories: affordability, wellness, culture, weather and crime. We placed the heaviest weighting on affordability,” according to the study, whose authors acknowledged that some things, such as proximity to loved ones or personal dislike of the cold, were just too subjective to measure.
The Southeast dominated the top two spots followed by some Midwest states and others across the U.S. Florida, well known for its warm weather, abundant golf and retirement communities such as The Villages, unsurprisingly took the top spot.
Let’s check out the best and worst states:
- Alaska was relegated to the last spot because of its poor scores for weather, crime and affordability. If avoiding taxes is your top goal, however, you may still want to consider Alaska, which beat out all other states in that category.
- As for overall affordability, Michigan is your destination. Despite the frigid winters, The Great Lakes State broke the overall top five for 2022 thanks in large part to its cost of living.
- Also in the top five were Georgia, for its mostly pleasant weather (outside of hurricane season) and affordability; Ohio for its affordability and lack of bad scores in other metrics; and Missouri, also for affordability and weather.
If it’s still too hard to pick, consider the advice of Laura Kovacs, former director of education at the Scottsdale Area Association of Realtors in Arizona who recently retired herself:
“Go to a variety of different places that you seem to be attracted to – places that have a lower cost of living and lower property taxes – and test them out for a while. If you’re interested in Florida or Arizona or California, stay there for a while and see if you like the climate at the time of year you’re going to be living there.”
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