Florida Ranked America’s Best State For Retirees

Florida is 2017’s best state to retire to. That’s according to a new study released by WalletHub, the website dedicated to all things personal finance.

Florida’s appeal for retirees goes well beyond its sunshine and beaches, the study’s authors say. It also fares better than most states in its taxes, availability of theaters and museums and the percentage of people aged 65 and older.

To rank the 50 states and the District of Columbia, WalletHub’s number crunchers looked at 31 key metrics. Those metrics include such factors as adjusted cost of living, weather and hospital quality. Aside from Florida in the No. 1 spot, the following sates earned ranking in the top five, respectively: Wyoming, South Dakota, Iowa and Colorado.

Rhode Island came in dead last at 51st place followed by Alaska in 50th. Others at the bottom of the list included Washington, D.C., (49), Connecticut (48), Hawaii (47) and New Jersey (46).

Some of the factors that helped Florida stand out in the study include:

• Percentage of population aged 65 or older – 1st place
• Theaters per capita – 7th place
• Taxpayer ranking – 10th place
• Cost of in-home services annually – 12th place
• Museums per capita – 15th place

WalletHub said the study was prompted by the finding that some 31 percent of America’s nonretired adults have no savings or pension plans. This, the study’s authors say, occurs because “many simply cannot afford to contribute to any type of plan.”

To check out the fully study, visit WalletHub online.

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