Moving to Florida and new location ranked as the best state to retire to.
Sunshine was named the number one state to retire in 2022, but this year Virginia takes the top spot. Personal finance website WalletHubBest states to retire in 2023” study.
WalletHub evaluated all 50 US states in three key categories: affordability, quality of life, and access to healthcare. Each category takes into account data from various agencies, including the U.S. Census Bureau, Centers for Disease Control and Prevention, and the Council for Community and Economic Research.
A state’s overall ease of retirement was based on the total score for all three categories. So even if an affordable state scores higher, lower quality of life and health care scores can lower its overall rank.
Virginia ranked 16th for affordability and 11th for quality of life and healthcare, but still got the highest score overall. Looking at affordability alone, Alabama ranked among the cheapest states to retire.
Florida ranked 9th for Affordability and 4th for Quality of Life, but dropped to 28th for Healthcare, dropping its overall rankings.
Here are the 10 best states to retire from, according to WalletHub.
- Virginia
- florida
- Colorado
- wyoming
- Delaware
- new hampshire
- south dakota
- Minnesota
- Idaho
- north dakota
Remember that there is no one-size-fits-all approach to retirement, and where and how many years you spend after retirement will depend on many factors.
Dawn Carr, professor and faculty member of the Pepper Institute on Aging and Public Policy at Florida State University, said in a WalletHub survey:
Your priority may be to live in a less expensive state, but someone else may want to live closer to family.
No matter where you want to retire, spend time there during different seasons of the year to get a feel for what it’s really like to live there. You can also get a sense of the types of opportunities it might offer.
“Choosing where to live is a big change in life and deserves all the upfront work necessary to keep these desires and assumptions in check as much as possible,” says Kathy Black, a professor of aging studies at the University of South Florida. said in a WalletHub report. .
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check out: The 10 Most Expensive US States to Retire — California Wasn’t on the List
