Retirement is ideally supposed to be the beginning of the best, most relaxing years of your life. After a life of working hard, slowing down and enjoying the little things is in order. Unfortunately according to a new study, if we plan to stay in Massachusetts – peace may be more difficult to attain.
Bankrate conducted the study, looking at a stats on costs of living, public health and other metrics to put together a comprehensive ranking of the best and worst states to retire in the United States. They analyzed five categories across all 50 states: affordability, overall well-being, the cost and quality of healthcare, weather and crime.
They aimed to create a starting point for making the important decision of where to retire. The five best states to retire in 2023 are Iowa, Delaware, West Virginia, Missouri, and Mississippi – from #1 to #5. Iowa was rated the very best state to retire in due to it’s more relaxed and affordable lifestyle and it’s access to the outdoors and retirement-age communities.
Retirement in the US is a critical phase marked by financial planning, social security, and personal savings. Many rely on employer-sponsored 401(k) plans and Individual Retirement Accounts (IRAs) to secure their future. Pensions are diminishing, emphasizing the need for individual responsibility. Healthcare costs, inflation, and longevity pose challenges, warranting informed decisions.
So let’s see how every New England state did. I’ll give you the state and it’s ranking. Then we’ll give you the 5 WORST States to Retire In In 2023 where we just might see a sad cameo by Massachusetts. Oh! And go check out every states rankings from Bankrate’s study, their methodology, and more RIGHT HERE!
If retirement is on the horizon, hopefully this info will help you make a decision for the next step of life. Me? I’m never retiring. Not because I don’t want to… just pretty sure I’ll never be able to. Food doesn’t pay for itself y’know.
