Vermont 23rd-best state for retirement

first_img25Delaware34422783518 4Utah1522811306 50New York481740315025 2South Dakota261169229 15New Hampshire397211749 12North Dakota291015121843 9Arizona2741921155 7Idaho223638227 33Georgia103541401920 8Iowa13121462039 Overall rankStateCost of livingCrime rateCommunity well-beingHealth care qualityTax rateWeather 38Missouri123745352338 Vermont Business Magazine Vermont is the 23rd-best state for retirement, according to a new Bankrate.com report. Vermont scored well in healthcare quality (#10) and low crime (overall #1 in nation). The main drawbacks are a relatively high cost of living (#42), taxes (#41) and the weather (#35). Regionally, New York was worst overall, while three New England states finished ahead of Vermont: Maine #11 (cheaper, better health care, better weather), New Hampshire #15 (lower taxes, better health care, worse weather); and Rhode Island #22 (better health care, better weather). The study examined six key factors: cost of living, taxes, healthcare, weather, crime and residents’ overall well-being. Wyoming is the best state for retirement, according to a new Bankrate report. Wyoming’s neighbors South Dakota, Colorado and Utah rank second, third and fourth, respectively. The region boasts strong well-being scores and it also offers a low cost of living and below-average crime. New York is the worst state for retirement, owing mostly to the nation’s highest tax burden and a very high overall cost of living. West Virginia, Oregon, Arkansas and Louisiana comprise the rest of the bottom five. The survey found that 60 percent of people want to move when they retire.Among traditional retirement hotspots, Arizona fared the best at No. 9. Florida came in 28th (dragged down by a high crime rate and below-average healthcare quality) and Hawaii 45th (largely because it has the nation’s highest cost of living).While many people think of beaches when they think about retirement, only one of Bankrate’s 10 best states for retirement touches the Atlantic Ocean, the Pacific Ocean or the Gulf of Mexico (Virginia, at No. 5). Nine of the 12 worst states are coastal states.“There are a lot of factors that go into how well retirees will do in a state,” said Claes Bell, CFA, a senior analyst at Bankrate.com. “While features like pleasant weather and nearby amenities are important, nuts-and-bolts considerations like cost of living and the local tax burden may have a bigger impact on your overall quality of life. Many retirees live on a fixed income, and it’s hard to have a pleasant retirement if you’re constantly under financial pressure.”Sources:– Cost of Living: Council for Community and Economic Research– Crime: FBI– Well-being: Gallup-Healthways Well-Being Index– Healthcare: Agency for Healthcare Quality and Research — Taxes: Tax Foundation– Weather: National Oceanic and Atmospheric Administration 19Tennessee6473733424 48Oregon442831344031 Sources: Agency for Healthcare Research and Quality; Gallup-Healthways; Council for Community and Economic Research; FBI; Tax Foundation; National Oceanic and Atmospheric AdministrationBankrate, Inc.Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, credit cards and other categories, such as retirement, automobile loans and taxes. The Bankrate network includes Bankrate.com, CreditCards.com and Caring.com, our flagship websites, and other owned and operated personal finance websites, including Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com and CreditCards.ca. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to over 100 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, CNBC and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times and The Boston Globe.NEW YORK – March 1, 2016 – Bankrate 46Louisiana19494249544 37Indiana33046392734 45Hawaii50261223632 43Alaska4746237150 18South Carolina24481923916 20Pennsylvania311633243822 39California49311041452 22Rhode Island41182674312 27Nevada3744384684 40New Jersey43832184815 6Montana3319327 (tied)139 14Minnesota3015754248 23Vermont42129104135 26Massachusetts45213043911 34Illinois232435264636 21Texas17381148623 31Alabama7432827 (tied)1241 1Wyoming18553238 28Florida283912291728 3Colorado3225413163 5Virginia20417142410 42Connecticut46618254914 11Maine3832233727 41Maryland403434194413 44Oklahoma44048501126 36Ohio162747303237 47Arkansas114544453430 24Mississippi12343431042 29Michigan92939202645 16North Carolina213323163119 17Kansas83225362817 49West Virginia351450443347 30New Mexico22501647141 10Nebraska142020152121 13Wisconsin25131324746 32Kentucky5949422933 35Washington363624172540last_img

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