Ever wonder if your state is a good place for retirement? There are many lists that talk about the best places to retire but is there a list of the worst places? Where does your state rank for retirement? The folks at Money-Rates.com pulled together both lists — the good and the bad. This financial website looked at such factors as crime rate, climate, longevity and economic conditions, including taxes, job opportunities and cost of living, to compile a ranking of the 10 worst states for retirement. Some of the bottom dwellers might come as a surprise.
Maine finished dead last in the rankings. The high cost of living and harsh climate dragged down the state’s appeal to retirees.
Michigan was the second worst, a result of joblessness and tax burdens weighing it down.
Massachusetts received a poor ranking because of cold weather and the cost of living.
Here are the 10 worst states for retirement, with No. 1 being the lowest-ranked, according to Money-Rates.com:
We also wanted to include the winners. The No. 1 state, Texas, outranked all other states with its outstanding scores for economic factors and climate. Kentucky and Oklahoma came in second and third, respectively, thanks to a below average crime rate and favorable economic factors. Here are all 10 best states for retirement according to Money-Rates.com:
8. South Dakota