Las Vegas, NV (KXNT) - Retirement might be the end of your career, but it doesn’t have to be the end of financial security or life satisfaction. Retirement generally coincides with the age at which we may receive Social Security or pension benefits. However, not everyone can retire when they want to. In fact, 25% of non-retired adults haven’t saved any money for retirement, though not necessarily through any fault of their own. In addition, only 40% of non-retired adults think their retirement savings are on-track.
But in addition to when to retire, a good question to ask is where. Finding the best states to retire can be difficult without doing lots of research. To determine the best states to retire, the financial website WalletHub compared the 50 states across 47 key indicators of retirement-friendliness, including affordability, health-related factors and overall quality of life.
Nevada has long been considered a retirees’ paradise, but WalletHub’s study threw cold water on that, ranking us 32nd. Nevada scores high in “Affordability” (11th), but gets hammered in categories like “Quality of Life” (42nd), and “Health Care” (41st).
The best state to retire in, according to WalletHub? Virginia, followed by Florida, Colorado, Wyoming and Delaware.
WalletHub recommends passing on spending your golden years in Kentucky. The Bluegrass State came in dead last in the study, followed by New Jersey, Mississippi, Oklahoma and New York.
For a look at the complete study, click here.