Choosing the best place to retire is a personal decision. No amount of number-crunching can make it for you. Only you can decide how close to your grandkids you want to live or whether you want to hit the road or even head abroad. However, an examination of some of the objective factors that matter to retirees--in particular those tied to safety and economic security--can help you narrow the options. With this goal in mind, we rated all 50 states and the
Our rankings favored states that are affordable and economically healthy, as well as those with lower crime rates. We also took into account the presence of a robust retirement-age population. Finally, we weighed the tax situation for retirees in each state. Note that we did not account for weather because some retirees yearn for year-round warmth while others might prefer the changing seasons.
We found the worst places for retirees scattered throughout the country. And though they are geographically diverse, they have one thing in common: All have above-average living costs that can strain fixed incomes. The following states might be great places to work, raise a family or visit, but they hold the least appeal when judged strictly as retirement destinations.
10. Texas
Total population: 25.6 million
Share of population 65+: 10.7% (U.S.: 13.4%)
Cost of living: 1.5% above the U.S. average
Average income for 65+ households:
Retiree tax picture: Friendly
Retirees may feel lonely in the Lone Star State. Just two other states have a smaller percentage of residents age 65 and older. In fact, the median age in
Another deterrent for retirees: The poverty rate for seniors is 11.3% in
Certain metro areas rise above the state's drawbacks: The city of
9. Utah
Total population: 2.8 million
Share of population 65+: 9.3%
Cost of living: 3.4% above average
Average income for 65+ households:
Retiree tax picture: Not Friendly
The Beehive State may be buzzing with life, but it's not necessarily the style retirees are seeking. Utah's population has the second-lowest share of people 65+ in the U.S., trailing only
High costs are another detractor. The median home value for the 65-and-up population in
8. Oregon
Total population: 3.9 million
Share of population 65+: 14.5%
Cost of living: 14.3% above average
Average income for 65+ households:
Retiree tax picture: Least Friendly
Taxes in the Beaver State gnaw away at fixed incomes. Among the 10 Least Tax-Friendly States for Retirees,
Despite low incomes, expenses are high. In addition to the overall high cost of living, the median home value in
Oregon's rate of property crime is above average, as is the state's overall poverty rate.
7. Nebraska
Total population: 1.8 million
Share of population 65+: 13.7%
Cost of living: 2.0% above average
Average income for 65+ households:
Retiree tax picture: Least Friendly
The smallest state on this list (not counting the
Those low incomes may now get retirees a break on taxes, at least. Though it's currently one of the 10 Least Tax-Friendly States for Retirees, starting in 2015 Nebraska has introduced new rules exempting some residents from paying taxes on
On the plus side, rates of both violent crimes and property crimes come in below the national average, as do Nebraska's poverty rates for both seniors and the general population.
6. North Carolina
Total population: 9.7 million
Share of population 65+: 13.4%
Cost of living: 2.1% above average
Average income for 65+ households:
Retiree tax picture: Mixed
The mild winters and pretty scenery may not be enough to lure you into
Poverty is a concern. Ten percent of seniors live below the line, versus 9.4% nationwide. More troubling, the poverty rate for the whole state is 17.5%, compared with 15.4% for the U.S. Property crime in
As for taxes, besides
5. Minnesota
Total population: 5.3 million
Share of population 65+: 13.3%
Cost of living: 3.6% above average
Average income for 65+ households:
Retiree tax picture: Least Friendly
The Land of 10,000 Lakes may drown retirees in taxes. Yet another of the 10 Least Tax-Friendly States for Retirees,
Most older residents won't have to worry about those top tax rates. The average household income for Minnesotans 65 and older falls 13.7% below the U.S. average--and far beneath the thresholds for the highest tax bracket.
Yet the state's cost of living is above average. According to health care research firm HealthView Services, lifetime health care costs for a healthy 65-year-old couple retiring this year and covered by
4. New York
Total population: 19.5 million
Share of population 65+: 13.8%
Cost of living: 52.7% above average
Average income for 65+ households:
Retiree tax picture: Least Friendly
One pricey Big Apple spoils the entire Empire State. In 2014, the city reigned as the most expensive place to live in the U.S., with costs soaring 120.4% above the national average.
Health care and housing are notably expensive in
3. New Mexico
Total population: 2.1 million
Share of population 65+: 13.8%
Cost of living: 3.6% above average
Average income for 65+ households:
Retiree tax picture: Mixed
When it comes to taxes, the Land of Enchantment presents a lackluster reality to its retired residents.
Other notable negatives: Safety may be an issue. For every 100,000 residents in
If you're eyeing the Southwest for its sunny climate and multicultural vibe, check out
2. California
Total population: 37.7 million
Share of population 65+: 11.8%
Cost of living: 34.7% above average
Average income for 65+ households:
Retiree tax picture: Least Friendly
Another one of the least tax-friendly states for retirees, the Golden State could be a foolish retirement choice. Except for
If that doesn't burden your budget enough, living costs will likely add to the stress. The biggest state in the country bears the third-highest cost of living, behind
1. District of Columbia
Total population: 619,371
Share of population 65+: 11.4%
Cost of living: 39.9% above average
Average income for 65+ households:
Retiree tax picture: Not Friendly
America's seat of power is no place to retire. Spanning just 68.3 square miles, the District's population is tiny, and only a small share of those residents are 65+--a total of 70,363 people. The median age in D.C. is a green 33.8 years old, compared with 37.3 for the U.S., which makes the metro area a better choice for new grads than for retirees.
The nation's capital has the second-highest cost of living in the U.S. after
High taxation (without representation, no less) is another deterrent. D.C.'s top income tax rate is 8.95%, among the highest in the country, according to the
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Stacy Rapacon is an editor at Kiplinger.