WORST STATES FOR RETIREMENT

Aug 14th, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Several Lists to Consider

When SCJ began taking a look at the worst states in the country (United States) to retire, we discovered there were several lists, depending upon the criteria for ‘worst‘.

For example, Money-Rates.com looked at economic factors, climate, life expectancy and crime rate and came up with this list:

10. Wisconsin
9. New York
8. Washington
7. Rhode Island
6. Maryland
5. Alaska
4. Connecticut
3. Massachusetts
2. Michigan
1. Maine

But on the other hand, if you want to avoid places where life expectancies run lower, crime rates are higher, and poverty is more common, these are the states to avoid (climate is not included in this list), according to BankRate.com:

1. LouisianaCrime rate: 4,196.5 per 100,000 Percentage of retirees living below poverty: 11.5 Life expectancy: 75.4

2. Georgia Crime rate: 4,043.8 per 100,000 Percentage of retirees living below poverty: 10.7 Life expectancy: 77.1

3. New Mexico Crime rate: 4,024.3 per 100,000 Percentage of retirees living below poverty: 12 Life expectancy: 78.2

4. Texas Crime rate: 4,233.3 per 100,000 Percentage of retirees living below poverty: 10.7 Life expectancy: 78.3

5. Arkansas Crime rate: 4,064.2 per 100,000 Percentage of retirees living below poverty: 10.2 Life expectancy: 76.1

6. Tennessee Crime rate: 4,271.2 per 100,000 Percentage of retirees living below poverty: 9.7 Life expectancy: 76.2

7. South Carolina Crime rate: 4,498.1 per 100,000 Percentage of retirees living below poverty: 9.8 Life expectancy: 76.6

8. Mississippi Crime rate: 3,254.7 per 100,000 Percentage of retirees living below poverty: 11.9 Life expectancy: 74.8

9. Alabama Crime rate: 3,894.6 per 100,000 Percentage of retirees living below poverty: 10.7 Life expectancy: 75.2

10. Kentucky Crime rate: 2,793.9 per 100,000 Percentage of retirees living below poverty: 11.2 Life expectancy: 76.2

Other lists can be found by searching 10 worst states to retire.

We think the important message in this is that seniors need to consider what is important to them when they make retirement plans. For some, the only consideration is being close to family.  For others, both family and economic considerations are equally important.  And still others want to find the cheapest state that has the lowest crime rate.

To each her/his own!  Our word of caution is to be sure you do your research before you make a life-impacting decision and a major move to another state and locale. You need to have information about where you will be living so your decision is based on reality, not on the fantasy of a life of retirement ease.



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