Despite having the highest cost of living, Hawaii is the best U.S. state for retirees in 2014 according to a new study by personal finance website MoneyRates.com.
The study, which examined a variety of economic and lifestyle factors that relate to retirement living (senior population, economy, crime, weather, life expectancy at age 65), ranks Alaska as the worst state for retirees.
Hawaii’s only weak spot in the study was its cost of living, which the study says is higher than any other state in the union. But the state’s strengths in other categories outweighed this downside in the overall rankings. Some interesting findings:
• The average 65-year-old in Hawaii can expect to live more than four years longer than the average 65-year-old in Mississippi.
• As a percentage of property values, property taxes are seven times higher in New Jersey than in Hawaii.
10 Best States for Retirement:
1. Hawaii
2. Iowa
3. Idaho
4. Florida
5. Vermont
6. Arizona
7. Colorado (tie)
7. Maine (tie)
9. Virginia
10. Montana
10 Worst States for Retirement
50. Alaska
49. Louisiana
48. Tennessee
47. Illinois
46. Nevada
45. New York (tie)
45. Maryland (tie)
45. Georgia (tie)
42. Michigan
41. Alabama
Throw the metrics out the window – what do you think are the best and worst states for retirement? Sound off on this thread.
• See more about the best states for retirement
• See more about the worst states for retirement
• See the full 50-state rankings
