The state where you retire may affect your health.

With 26 percent of all nonretired adults having no retirement savings or pension and a quarter of Americans expecting to delay their retirement due to the economic impact of COVID-19, a new report released today shows 2021’s Best States to Retire.

In addition to when to retire, a good question to ask is where. Finding the best states to retire can be difficult without doing lots of research, according to Adam McCann of WalletHub. Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses. Social Security benefits increase with local inflation, but they replace only about 39 percent of the average worker’s earnings. Plus, while affordability is one of the biggest concerns when deciding where to retire, there are plenty of other factors to consider like how safe the state is and how good its health care is (especially during the COVID-19 pandemic), as well as what activities it offers to keep retirees busy.

If retirement is still a big question mark for you because of finances, consider relocating to a state that lets you keep more money in your pocket without requiring a drastic lifestyle change.

To hear a list of of the best states to retire, watch here:

To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 45 key metrics. Its analysis examines affordability, health-related factors and overall quality of life.

Retiring in California (1=Best; 25=Avg.):

  • 49th – Adjusted Cost of Living
  • 46th – Annual Cost of In-Home Services
  • 11th – WalletHub ‘Taxpayer’ Ranking
  • 41st – Elderly-Friendly Labor Market
  • 45th – % of Population Aged 65 & Older
  • 32nd – Property-Crime Rate
  • 2nd – Life Expectancy
  • 35th – Health-Care Facilities per Capita
  • 48th – COVID-19 Positive Testing Rate in the Past Week

For the full report, click here. 

Image Sources

  • Retirees: Pixaby