Monday, May 5, 2014

Florida Ranks 39th As 'Best State to Retire'

Florida ranks 39th out of 50 states as the best state to retire - a drop from 19th place just a year ago - according to BankRate.com.


Bankrate ranked all 50 states according to their cost of living, crime rate (violence and property crimes), health care quality, state and local tax burden, personal well-being and weather. 


The major factors that held the Sunshine State down in the rankings were a higher cost of living, high crime rate, and lower quality healthcare services


South Dakota came out on top due to its low tax burden, low crime rate and high wellness score.  Other states that round out the top five best states to retire are Colorado, Utah, North Dakota and Wyoming.


"While the states that ranked highly may not be thought of as typical retiree havens, seniors should consider more than sunshine when choosing a place for their golden years," said Bankrate.com research and statistics analyst Chris Kahn. "The Dakotas both ranked in our top 10 for the second year in a row due to their low cost of living, low crime rates, good health care quality, low taxes and excellent satisfaction scores from residents."


The five states that ranked the lowest for retirement are New York, West Virginia, Alaska, Arkansas and Hawaii.