How's Your State Rank for Retirement?

Here's an interesting report which ranks the top states for retirement based on the following criteria:

• Financial: The financial health of pre-retirees as a group, and the fiscal health of their states of residence, are directly linked to their ability to enjoy a fulfilling retirement. Financial factors rank high across all surveys of pre-retiree preparedness.
• Healthcare: Access to, and cost of, healthcare are key determinants of retirement satisfaction. Along with financial factors, healthcare comprises a top concern.
• Housing: Affordable housing, both while active, during retirement, and, if needed, for nursing care, is of vital importance and can be a major expense.
• Community Quality of Life: Social factors, including weather, are key determinants of retiree happiness and satisfaction.
• Employment and Education: The 20 years before retirement can generate the highest rate of savings if fully employed. Employment may offer benefits beyond income, such as 401Ks, pensions, health insurance, and health savings accounts.
• Wellness: Personal habits and tendencies impact health during the last years of employment and into retirement. Poor habits are associated with premature death, poor quality of life, and increased healthcare costs, in addition to strains on stateprovided resources.

The states are then divided into quintiles rated "A" through "F" with "A" being best.

Here's how all the states I've ever lived in rate:

• Iowa - B
• Missouri - B
• Tennessee - B
• Colorado - C
• Indiana - C
• Illinois - C
• Michigan - C
• Ohio - C
• Pennsylvania - C
• Oklahoma - D

The states that rated "A" are:

• Virginia
• South Dakota
• Minnesota
• Wyoming
• Wisconsin

The states that rated "F" are:

• Arkansas
• California
• New Mexico
• New Jersey
• New York

Some thoughts:

• I think it depends where you live in each state. Believe me, the small town I lived in in Iowa is not even close to a "B".
• Of my states, I would rate Missouri lower and Colorado and Michigan higher.
• Of the A-rated states, Virginia is the only one I'd like to live in. LOVE that state -- so beautiful.
• Having "New" in your name must be a killer. :)
• Personally, I'm in love with Colorado and plan on living here the rest of my life.

How about you? How did your state rank?

 

Comments

[Sylvia @ Miss PF]

My state (IL) is a C. I would think it would be that, or lower. I would love to check out Colorado!

[Liz]

Although I live in Colorado now, as far as retiring, I think Missouri would be great because it's cheap. I would say that's why those small mid-western states scored fairly well. I'm from Missouri, and the cost-of-living difference between there and Colorado are monumental. You can make your dollar go MUCH further.

[Brian ferguson]

My parents live in Wyoming. In their corner of it, access to nursing homes is low, some healthcare appointments are 1-3 hours away, housing runs almost 75% of my Orange County town home, and there are almost no activities for a senior citizen unless they want to hunt and hike. I would not rate Wyoming an A based on healthcare access and housing.

[Richard Morchoe]

I would love to be subscribed to your new site.

My state is (The Peoples' Republic of Massachusetts) is mediocre.