Many Americans spend their entire working lives preparing for retirement, and one of the most important decisions they have to make before entering their golden years is where they want to settle down.
Fortunately, Bankrate has compiled a list of the best states to retire in 2024 to help make this decision easier for those approaching retirement. The states were evaluated based on factors such as affordability, overall well-being, healthcare, weather, and crime.
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According to the report, Delaware has been ranked as the top place for retirees to settle in the U.S., followed by West Virginia, Georgia, South Carolina, and Missouri. Delaware’s tax-friendly laws, diverse population, and moderate climate were highlighted as reasons why it is an ideal place for retirees.
On the other hand, Alaska is ranked at the bottom of the list for the second consecutive year as one of the worst states to retire in, followed by New York, Washington, California, and North Dakota. High crime rates, cost of living, poor healthcare services, and unstable weather were cited as reasons to avoid these states for retirement.
Click here to view the full list of Bankrate’s best and worst states to retire in 2024 and see where your state ranks!
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Before making any major decisions about retirement locations, it is crucial to assess your financial situation. Northwestern Mutual’s 2024 Planning & Progress study revealed that a record number of Americans will reach retirement age this year, but only half of them feel financially prepared. Concerns about outliving savings are prevalent among boomers and Gen Xers, with many not taking steps to address this risk.
