NEW YORK, NY (News release) - Many retirees may call Arkansas home, but South Dakota is actually the best state for retirees, according to new research from Bankrate.com (NYSE: RATE).
Arkansas ranked in the bottom five of the survey, along with New York, West Virginia, Alaska, and Hawaii. Even popular retiree spots such as Florida and Arizona didn’t even make the top 10.
Bankrate.com looked at several factors to determine which states offer the best quality of life for seniors. The factors include local weather, cost of living, crime rate, health care quality, tax burden and well-being (a measurement from the Gallup-Healthways Well-Being Index that quantifies how satisfied residents are with their surroundings).
South Dakota came out on top due to its low tax burden, low crime rate and high wellness score. Other states that round out the top five best states to retire are Colorado, Utah, North Dakota and Wyoming.
“While the states that ranked highly may not be thought of as typical retiree havens, seniors should consider more than sunshine when choosing a place for their golden years,” said Bankrate.com research and statistics analyst Chris Kahn. “The Dakotas both ranked in our top 10 for the second year in a row due to their low cost of living, low crime rates, good health care quality, low taxes and excellent satisfaction scores from residents.”
Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet.
“Of course, the best place to retire will differ drastically depending on the individual,” said Kahn. “For some, the best place to retire is simply anywhere there’s year-round warmth and sunshine. For others, it's where family and friends live. Retirees are best off deciding what factors matter most to them and checking the relevant statistics before making a final decision.”
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