What Are the Best States for Retirement?

What Are the Best States for Retirement?

What Are the Best States for Retirement?

Some of the best states for retirement based on several criteria, including weather and economy, in order of preferenceaccording to MoneyRate and the American Association of Retired People (AARP), are Hawaii, Idaho, Utah, Arizona, Virginia, Colorado, Florida and New Mexico. Other states on the AARP list include South Dakota, California and Texas.

There are many factors that go into deciding which state is the best place for retirement, according to MoneyRate and the AARP.

Factors that played into the decision were the economic conditions of the state. Property taxes, the cost of living and employment opportunities are considerations for many.

Other factors MoneyRate and AARP listed are the crime rate for bigger cities and climate during the winter months. The growth rate of the population age 65 and older was also taken into account.

Life expectancy was another major issue in the criteria of picking a place to retire. A major factor that played into this part of process was the access to quality healthcare and environmental conditions.

The states were rated based on several factors:

  • Texas: warm weather and solid economy
  • California: good weather and high life expectancy
  • South Dakota: low crime rate and high life expectancy
  • New Mexico: good weather
  • Florida: good weather
  • Colorado: high life expectancy
  • Virginia: good economy
  • Arizona: good weather and high life expectancy
  • Utah: good economy
  • Hawaii: great weather and high life expectancy