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.
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.
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.
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