It ends up the “Last Frontier” state might be the last location you ‘d wish to retire: Alaska was ranked the worst state for retirement, according to a brand-new Bankrate ranking
To identify the very best and worst states for retirement, Bankrate weighed 5 classifications: Affordability (40%), health (20%), culture (15%), weather condition (15%) and criminal activity (10%). The combined total rating was utilized to identify each state’s ranking.
Alaska was dragged to the bottom of the list by low ratings in price and weather condition. However, there are still positives to retiring in the most northern state: Alaska’s citizens bear the country’s most affordable tax problem, according to the report.
Here are the 7 worst states to retire in 2022, according to Bankrate.
- Alaska
- Maine
- California
- New Mexico
- Montana
- Vermont
- Maryland
Despite its infamously high expense of living, New York didn’t fall near the bottom of the list. The state’s ranking got an increase from high ratings in the health and culture classifications, putting it rather in the middle.
Bankrate acknowledges that there’s a lot of subjectivity in selecting a location to retire. The classifications in this ranking might not show everybody’s top priorities. For example, distance to household plays a significant function in choosing where to calm down for lots of senior citizens.
“When I see people retire and move to different parts of the country, 70 to 80 percent of the time, it’s to be close to family,” Clark Kendall, president of Kendall Capital Management and author of “Middle-Class Millionaire” informed Bankrate.
Soon- to-be senior citizens might wish to think about checking out various places to get a feel for what it may be like to live there long-lasting.
“Go to a variety of different places that you seem to be attracted to — places that have a lower cost of living and lower property taxes — and test them out for a while,” Laura Kovacs, previous director of education at the Scottsdale Area Association of Realtors in Arizona and a current senior citizen, informs Bankrate.
“When you’re still working, take some time to go preview different types of communities and different types of lifestyles,” she states. “And when you’ve retired, maybe try renting for a while before you commit to buying.”
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