From cost of living to climate and health care, many factors go into deciding where to retire. WalletHub is out with a new list of best states for older Americans. The personal finance website looked into 41 key indicators of retirement-friendliness and ranked each of the 50 states.
Topping the list for best overall is Florida. While it ranked No. 1 in affordability and high in other areas, WalletHub ranked it 20th for health care.
There’s a new state in the No. 2 spot this year, Colorado. While it wasn’t in the top 20 for affordability, it ranked No. 2 for health care.
Rounding out the top 10:
3. South Dakota
7. New Hampshire
Next on the list, at 11, is Minnesota. While the North Star State can be expensive (No. 42 for affordability) — it ranked No. 1 in both health care and quality of life.
Breaking down the states into specific areas, Alaska had the highest percentage of people age 65 and older still in the workforce — followed by Vermont, South Dakota, Nebraska and North Dakota. Alaska also had the lowest percentage of residents over 65 of the 50 states. As for the highest percent of the population 65 and older: Florida, Maine, West Virginia, Vermont, Montana and Pennsylvania.
AARP previously reported on how finding the best place to retire really depends on what you’re looking for. WalletHub groups its 41 indicators into three key areas: affordability, quality of life and health care. The full list also includes why some states ranked the worst.