1 11
1 11
As clients near retirement age, advisors may only be thinking about the amount they have saved in their nest egg. But where clients choose to retire is also important—not only for their financial wellbeing, but for their overall happiness as well.
WalletHub recently ranked the best and worst states to retire, based on affordability, quality of life and health care. Clients who haven’t saved much for retirement may want to choose a more affordable state, such as Mississippi, which has the lowest adjusted cost of living and the second lowest cost of in-home services.
Clients with large nest eggs may be more focused on their quality of life; they will want to consider states such as New York and California, which have the most museums and theaters per capita.
WalletHub compared the 50 states and the District of Columbia across 24 metrics. Here are the 10 best that came out of their analysis for 2016.
This article first appeared on WealthManagement.com.
Adjusted cost of living rank: 20
Annual cost of in-home services: $41,184
Elderly-friendly labor market rank: 35
WalletHub “mild weather” rank: 44
Number of museums per capita rank: 14
Number of golf courses per capita rank: 24
Property crime rate: 19.3
Average life expectancy: 79 years old
Adjusted cost of living rank: 35
Annual cost of in-home services: $48,048
Elderly-friendly labor market rank: 41
WalletHub “mild weather” rank: 2
Number of museums per capita rank: 50
Number of golf courses per capita rank: 46
Property crime rate: 26.25
Average life expectancy: 78.1 years old
Adjusted cost of living rank: 32
Annual cost of in-home services: $52,624
Elderly-friendly labor market rank: 7
WalletHub “mild weather” rank: 23
Number of museums per capita rank: 10
Number of golf courses per capita rank: 33
Property crime rate: 24.73
Average life expectancy: 78.5 years old
Adjusted cost of living rank: 11
Annual cost of in-home services: $42,328
Elderly-friendly labor market rank: 48
WalletHub “mild weather” rank: 36
Number of museums per capita rank: 6
Number of golf courses per capita rank: 13
Property crime rate: 30.19
Average life expectancy: 78.5 years old
Adjusted cost of living rank: 5
Annual cost of in-home services: $43,769
Elderly-friendly labor market rank: 9
WalletHub “mild weather” rank: 5
Number of museums per capita rank: 42
Number of golf courses per capita rank: 38
Property crime rate: 18.55
Average life expectancy: 79.5 years old
Adjusted cost of living rank: 33
Annual cost of in-home services: $49,718
Elderly-friendly labor market rank: 17
WalletHub “mild weather” rank: 14
Number of museums per capita rank: 18
Number of golf courses per capita rank: 26
Property crime rate: 25.3
Average life expectancy: 80 years old
Adjusted cost of living rank: 24
Annual cost of in-home services: $41,184
Elderly-friendly labor market rank: 23
WalletHub “mild weather” rank: 6
Number of museums per capita rank: 37
Number of golf courses per capita rank: 9
Property crime rate: 34.6
Average life expectancy: 77 years old
Adjusted cost of living rank: 36
Annual cost of in-home services: $49,764
Elderly-friendly labor market rank: 11
WalletHub “mild weather” rank: 22
Number of museums per capita rank: 28
Number of golf courses per capita rank: 23
Property crime rate: 18.64
Average life expectancy: 79.5 years old
Adjusted cost of living rank: 19
Annual cost of in-home services: $46,561
Elderly-friendly labor market rank: 16
WalletHub “mild weather” rank: 11
Number of museums per capita rank: 16
Number of golf courses per capita rank: 42
Property crime rate: 19.65
Average life expectancy: 78.3 years old
Adjusted cost of living rank: 26
Annual cost of in-home services: $41,184
Elderly-friendly labor market rank: 33
WalletHub “mild weather” rank: 12
Number of museums per capita rank: 15
Number of golf courses per capita rank: 1
Property crime rate: 34.15
Average life expectancy: 79.4 years old
