Alaska Tops List of Worst States to Retire in 2024
High Cost of Living and Healthcare Makes Alaska the Worst State to Retire In
According to the report of CNBC, a recent study by Bankrate has ranked Alaska as the worst state to retire in the United States for the third year in a row. The study looked at 50 states and considered five factors: affordability, overall wellbeing, quality and cost of healthcare, weather, and crime.
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Expensive States Like New York and California Also Worst State that’s Rank Poorly for Retirees
Other states that ranked poorly include New York, Washington, and California, which are also known for being expensive. However, just because a state costs more to live in doesn’t mean it’s a bad place to retire. Retirees might need to save more money for retirement, but other factors, like having access to social and community activities, are important too.
Importance of Community and Social Connection for Healthy Aging
Retirement expert Kerry Hannon says that having a sense of community and human connection is very important for healthy aging. Retirees should avoid feeling isolated and lonely. Instead, they should look for places that offer chances to socialize and make connections.
Affordable States Like Florida and Iowa Are Top Choices for Retirees
Bankrate’s study emphasized that affordability is a key factor in deciding where to retire. The cost of living in Alaska is about 30% higher than the rest of the country, making it tough to live there on a fixed income. On the other hand, states like Florida and Iowa ranked high on the list because they offer more affordable options for retirees.
How to Choose the Best Place to Retire Based on Individual Needs
When choosing a place to retire, consider what’s most important to you. By weighing both financial and lifestyle factors, you can find the ideal spot to enjoy your retirement and make the most of your time.
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