Who's Ranked #1 For Places to Retire?
WALLETHUB RANKS FLORIDA NO. 1
To determine the best state for retirement, WalletHub looked at 45 variables, including affordability and quality of life – and you guessed it, Florida was, and still is, No. 1. So what's stopping you from moving here?
For many people, a Florida retirement means warm year-round weather and no shoveling snow. Are you ready for retirement living? It’s not paradise if you run out of money. A state with good healthcare might have a high cost of living and high taxes. A state with affordable housing may have limited access to hospitals.
WalletHub looked at and weighed 45 variables, including affordability, quality of life and healthcare. Florida wasn’t the No. 1 state in all categories, but when looking at all the variables together Florida, overall, was the No. 1 U.S. state for retirees considering a move.
According to WalletHub, cost is a major concern for many retirees, and “Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses.”
WalletHub’s advice: “If retirement is still a big question mark for you because of finances, consider relocating to a state that lets you keep more money in your pocket without requiring a drastic lifestyle change.”
The 50 states were looked at by WalletHub to determine the best places to retire based on those 45 key indicators and came up with a score for retirement-friendliness.
In the analysis, No. 1 Florida had a total score of 61.09. For affordability, Florida ranked fourth and for quality of life it ranked sixth.
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Source: Florida Realtors®