Travel
Top 10 best states to retire based on quality of life
Financial matters get a lot of attention when planning for retirement. However, just as important as where you retire is the quality of life there.
A new WalletHub report ranked the best and worst states in the U.S. for retirement for 2023, which included considerations for quality of life.
Methodologically, Quality of Life tracks elder abuse protections and crime rates in various states. Each state was ranked using 22 metrics, each worth 30 points.
No. 1 state to retire for a high quality of life: Massachusetts
Massachusetts is the best state for retirement based on quality of life. Even though the state was in the bottom half of the list for affordability, it came in second for health care.
According to Britannica, Massachusetts is one of the world’s top medical centers and a pioneer in the fight to improve social conditions. The state has led efforts to improve health care coverage, public education quality, same-sex marriage, and many other issues.
According to SmartAsset, the state is regarded as moderately tax-friendly for retirees. Income from Social Security, for example, is exempt from tax, but withdrawals from retirement accounts are taxed fully.
Top 10 best states to retire based on quality of life
- Massachusetts
- Minnesota
- Pennsylvania
- Florida
- New Hampshire
- Maine
- Vermont
- Ohio
- Wyoming
- New York
On the list, Minnesota came in second place. Minnesotans partake in the fourth-longest future in the country, with an average of 80.9 years, as per World Population Review.
This year, WalletHub ranked it as the fourth-best state to raise a family due to the high median family income of $77,706 and low rates of separation and divorce. Additionally, the state has one of the lowest levels of poverty in the United States.
The state has a low crime rate and clean air.
Pennsylvania comes in third place. It is one of the largest producers of canned fruit and vegetable-specialty snacks in the country, earning it the moniker “Snack Food Capital of the World.” Some of those organization names incorporate Martin’s Snacks, Snyder’s of Hanover, Utz Brands, Julius Sturgis Pretzel Bakery, and The Hershey Co.
In Pennsylvania, there are no taxes on retirement income for residents.
According to Scholaroo, a website that helps students find scholarships, the state is also one of the best for health care, wellness, safety, affordability, and entertainment.
The Keystone State also has a lot of nursing homes and ranks highly for its geriatric health providers.
-
Travel4 weeks ago
Study Abroad? Essential Tips – From Insurance Coverage to Banking and Tax Obligations
-
World2 weeks ago
Brazil and GFANZ Collaborate to Increase Climate Finance
-
World2 weeks ago
Top 10 Banks In Qatar
-
NFT3 weeks ago
Revolutionizing Art: Ways to Experience Art in the Digital Age
-
Startup4 weeks ago
Tips to Protect Your Company: A Complete Guide to Small Business Insurance
-
Business2 weeks ago
Citigroup Plans to Grow Its Wealth Management Business in Asia and the Greater Bay Area by Leveraging Hong Kong’s Standing as a Finance Hub
-
World1 week ago
US Wants to be the Indo-Pacific Region’s “Economic Partner of Choice”
-
Business5 days ago
Embedded Finance – What is It, How is It Different from Open Banking and Defi, Benefits & Drawbacks, and More