While many “best of” retirement locations focus on proximity to nature, tax rates and transportation offerings, a new study by Bankrate deems the best states for retirement based on a “more pragmatic approach.”
Finding Tennessee as its top state with Louisiana, South Dakota, Kentucky and Mississippi rounding out the Top-5, Bankrate examined characteristics such as number of doctors per 100,000 population, state and local tax burden, cost of living averages, crime and health care in compiling its list.
“People have distinct ideas about the best places to retire. For many, it’s about proximity to beaches, lakes, golf courses or grandchildren,” Bankrate writes. “We looked at practical considerations concerning health, safety and costs.”
The states at the bottom of the list—Oregon, Alaska, Washington, California and Wisconsin—received low marks for cost of living, accessibility of health care and incidence of crime.
“We gathered state statistics on cost of living, crime rates, tax rates, access to medical care and average annual temperatures,” the authors write. “We then ranked the states from best to worst, with the best being those states with a relatively low cost of living, low crime rates, low tax rates, easy access to medical care and higher-than-average year-round temperatures.”
Written by Elizabeth Ecker