The 10 Best (and Worst) States to Retire, Ranked

Among the many uncomfortable facts of life: It’s getting harder to prepare for retirement. Shrinking 401(k)s, inflation, and job insecurity all conspire to affect savings and push people to keep working past their targeted retirement age.

A variable that not everyone considers is where they plan to settle into a third act. Your geographical location impacts everything from stretching a dollar to health care expenses.

Recently, financial planning site WalletHub examined all 50 states to determine which ones might be best for retirees. They evaluated each by affordability (cost of living, taxes); quality of life (social opportunities, weather, food insecurity); and health care (providers per capita, hospital ratings). A total of 47 metrics were used in all, with each graded on a 100-point scale. The overall average determined a state’s score.

The 10 states most favorable to retirement:

Rank	State	Overall Score
1	Virginia	57.55
2	Florida	57.43
3	Colorado	57.41
4	Wyoming	55.60
5	Delaware	55.49
6	New Hampshire	55
7	South Dakota	53.61
8	Minnesota	53.50
9	Idaho	53.20
10	North Dakota	53.03

WalletHub’s top pick, Virginia, echoes a 2022 release by U.S. News and World Report that ranked two Virginia cities—Virginia Beach and Richmond—as two of the best places to settle down. That report also saw several cities in Florida crack the top 10.

The 10 lowest-ranked:

Rank	State	Score
41	Arkansas	44.73
42	Maryland	44.55
43	Washington	44.46
44	Illinois	44.30
45	Louisiana	43.90
46	New York	43.69
47	Oklahoma	43.61
48	Mississippi	40.80
49	New Jersey	40.23
50	Kentucky	38.80

Kentucky comes in last thanks in part to bottom-tier rankings for health care: It placed 46th overall. One reason might be its second-highest ranking of smoking among adults, with nearly one-quarter of the population lighting up.

For the entire list, visit WalletHub.

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