Finding the Best Places to Retire Since 2006!
10 Worst States for Retirement
Each state has its benefits and drawbacks when it comes to retirement, but generally speaking, the states below are often considered less than ideal for one's "golden years" (and yet each one has some desirable towns).
Alaska may have eight national parks and a favorable tax climate, but the cost of living is high. An apartment in Anchorage is 40% more expensive than any where else in the United States. A new home is 62% more expensive. The property and violent crime rates are high.
The cost of living in Arkansas is low. If you want to get into the great outdoors, you'll have ample opportunity. The state, however, has few health resources. Crime rates can be disturbing. Little Rock is one of the most dangerous cities in America.
California is a big state with lots of coastline. The cost of living is also big. Home prices are high. Income taxes are the highest in the nation, reaching a whopping 13.3% for top earners.
Okay, the weather is gorgeous, but Hawaii's cost of living can get ugly. If you want to rent a small two-bedroom apartment in Honolulu, consider paying $1,850 per month.
Louisiana may have a low cost of living, good gumbo, and great jazz, but it has a high crime rate. When it comes to murder, cities in Louisiana top most lists. The state can also be slammed by dangerous storms which threaten lives and cause property damage
Thanks to places like Harvard, MIT, and Boston University, residents of Massachusetts are surrounded by fantastic health care and a rich cultural life. But it all comes at great cost. Median home prices can be twice the national average. Your monthly energy bill for gas and electricity? Thirty percent higher than the national average.
Missouri does have a low cost of living and a favorable - though confusing - tax environment. Crime and weather, however, may make the state treacherous. Its big cities have high crime and murder rates. Damaging tornadoes and thunderstorms are not unknown.
Nebraska can be affordable. However, its current tax environment is unfriendly. Property taxes are some of the highest in the nation. Some Social Security benefits are exempt, but most other retirement income is taxed. This includes public and private pensions, as well as retirement plan withdrawals.
If money is no object and you enjoy professional theater, top notch restaurants and world class museums, then you might consider New York. But like California, it's an expensive place to live. Real estate is pricey. Taxes are high. Health care costs are even higher.
Yes, Utah has some stunning national parks, beautiful landscapes and plenty of sunshine, but it's one of the few states to tax Social Security benefits. If you're looking for cohorts your age, you won't find them here. The median age is just 30 years old.
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