Whether you’re just starting your career or looking to retire in the next couple years, at some point we’ve all asked ourselves this one question: When I retire, which state should I reside in?
According to Bankrate.com, some of the U.S. hottest states like Florida and Arizona aren’t necessarily the best or worst places to retire.
When choosing where to retire some factors Americans must keep in mind is cost of living, health care quality, crime rate, culture and social environment, weather, taxes and the retiree population.
A new Bankrate survey shows that 47 percent of Americans would consider relocating when they retire. A household with higher earnings and younger adults are more likely to relocate than everyone else.
The best and worst states for retirement, according to Bankrate.com:
- New Hampshire
- South Dakota
- West Virginia
- New Mexico
Bankrate reports that most retirees depend on a fixed income, such as Social Security. It’s important for consumers to find a place where they can maximize their money.
Read more at www.bankrate.com.