Here Are the Best (and Worst) States to Retire

The South Dakota state capitol building is seen in Pierre South Dakota in 2018. More

The South Dakota state capitol building is seen in Pierre South Dakota in 2018. More

Forget heading South. Retirees are now opting for the densely populated Midwest, according to a new report. And when it was all said and done, South Dakota came out on top as the best state for you to retire to when it's time.

Planning on retirement? According to a Bankrate study, you might not want to do it in Maryland.

However, other states dinged for cold, snowy winters also made the top five this year.

But the truth is, she says, South Dakota offers residents a slew of benefits that often get overlooked.

Rounding out the top five were Utah, Idaho, New Hampshire and Florida, which ranked second in weather. "If you were on a fixed income living in a place with high cost of living - life's going to be hard". The biggest downer - the weather - ranked at No. 38.

If you're thinking about retirement - or just dreaming about it - you might be wondering where you should land. The things that make you happy that give meaning to your life, your social relationships, your spousal relationships, all inform your happiness when you retire'.

The study found Maryland tied with New Mexico for the second worst place for retirees to settle.

With 10,000 people turning 65 each day, based its ranking on seven categories that would impact a retiree's decision to move (weighting in parentheses): cost of living (20%), taxes (20%), health care quality (15%), weather (15%), crime (10%), cultural vitality (10%) and well-being (10%). The main drawbacks for the Big Apple include the cost of living, taxes and health care quality.

Louisiana and Arkansas followed to round out the five worst states in which to retire. Idaho rose due to its high ranking on low crime, health care quality and well-being.

Latest News