South Dakota is best state for retirement while New York ranks worst
14 July, 2018, 22:57
Missouri ranked 15th, Kentucky was 30th, and IL ranked toward the end of the list at 44.
Bankrate has delivered once again with its 2018 list of the best and worst states to retire, a selection that looks at a multitude of factors when deciding the best and worst options for retirement. "But if you look into it, you see how people there have very good social relationships, and feel a sense of objective with the community", said Bankrate.com analyst Taylor Tepper in an interview with Yahoo Finance.
Analysts say people living in South Dakota are more satisfied with their lives than anyone else, enjoy low taxes, feel financially secure and enjoy a sense of community.
South Dakota came out on top mostly because of how it ranked in well-being and tax friendliness.
Utah, Idaho, New Hampshire and Florida rounded out the top five spots on the list, even though the scores of Utah, Idaho and New Hampshire also were affected by weather.
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NY was the worst - not a huge surprise given the state's high cost of living, high taxes, and the lower quality of health care.
NY was last on the overall list due to cost of living, taxes and healthcare quality.
'Don't think about retirement as something separate and apart (from what you want now),' he said.
New Mexico fared poorly on quality of health care and ranked last on crime, while Maryland was dinged for having a high cost of living and high taxes. All of these categories then factor into a final ranking out of 50.
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