Las Vegas, NV (KXNT) - Retirement might be the end of your career, but it doesn’t have to be the end of financial security or life satisfaction. Retirement generally coincides with the age at which we may receive Social Security or pension benefits.
However, not everyone can retire when they want to. In fact, in 2019, 26% of non-retired adults had no money saved for retirement.
Furthermore, with the financial stress Americans have faced during the COVID-19 pandemic, it’s likely that many were unable to save in 2020 as well. A recent study even found that a quarter of Americans expect to retire later than originally anticipated due to the economic impact of COVID-19.
To determine the best states to retire, the financial website WalletHub compared the 50 states across 45 key indicators of retirement-friendliness, including affordability, health-related factors and overall quality of life.
Nevada, often considered a paradise for retirees because of lower taxes and pleasant weather, didn’t fare as well as one might think, ranking on as the 24th best place. The Silver State scored high on ‘Affordability’ (7th), but was hurt by low ranking in ‘Quality of Life’ (39th) and ‘Health Care’ (40th)
Florida snagged the top spot, followed by Colorado, Delaware, Virginia and North Dakota.
Place that you don’t want to spend your sunset years? Avoid - in this order - New Jersey, New York, Mississippi, New Mexico and Rhode Island.
For a look at the full study, click here.