There are many factors to consider when it comes to deciding on where to spend your retirement years. As a general rule, most people prefer not to move from state to state every couple of years, especially when a primary goal of retirement is to buy a home in a location that maximizes your retirement pleasure. With so many states to choose from, often the best approach to take is to eliminate the states you definitely do not want to move to based on your personal preferences and situation.
The states on this list will not be ranked in any particular order. Major retirement concerns such as the cost of living, things to do, and general weather conditions have been made part of the equation. Unless you live in one of these five states it is highly unlikely you will pick up your roots and make them your home of the future.
Mississippi seems to make every list of states not to move to – for any reason. The weather is hot and humid during the summer months, and then there is the constant threat of a hurricane for at least half of the year. Business Insider ranked it only the 40th worst state to retire in, placing it in the bottom 20% of all states to retire. What kept it out of the cellar was its cost of living, which is ranked as the best of all states. But this statistic needs to be kept in perspective, as Mississippi is the poorest of all the states to live.
Moving further north, Kentucky is ranked by WalletHub as the worst state to retire. Its survey claims it has the greatest number of deaths due to cancer of any state, and the general quality of life is near the bottom. There are reports of people from Chicago choosing to move to Kentucky, claiming it is a far better place to live. Just remember they are comparing it to one of the most corrupt cities in the United States. It also doesn’t say much for the rest of Illinois.
Amazingly, the Aloha State has made many lists of the worst places to retire. The biggest reason is it is so expensive, with the price of a home starting at around $600,000 and a gallon of milk cost upwards of $8. In other words, you have to have a lot of money just to consider retiring there. The weather is great, but as people recently were recently jolted back into reality, Hawaii is built on a volcano. Should nature get fickle you really have nowhere to go while you see your retirement home swallowed up. Business Insider ranks it 47th of the 50 worst places to retire.
4. Rhode Island
Somehow Rhode Island managed to get ranked 51st on the list of worst states to retire by Business Insider. Oh, that is because they included Washington D.C. as a place to retire. Beyond being a very small state, it is also strangely very expensive to live there. At least with Hawaii you get an island paradise. The average cost of a home in Rhode Island is about half of what it costs in Hawaii. Stack on top of that statistic the tax rate of the state, and you get the worst possible mixes for retirees, most who will live on fixed income for their remaining years.
5. New Mexico
If you have ever looked at pictures or videos of New Mexico you will see its scenery is primarily a very brown color. While this may appeal to some retirees, the state has one of the worst healthcare systems in the country. The simple fact is that doctors and their families have no inclination to move there. It does have a low cost of living, but that is largely due to another unfortunate statistic – about 1 of every 5 residents lives below the poverty line. Since poverty and crime rates often parallel one another, it will not be the safest choice to retire.
There were many other contenders for this list – New Jersey, Arkansas, and Louisiana to name a few. But generally the Southern states don’t have a lot going for them as far as retirees are concerned, and only the boldest and coldest people would want to retire to Alaska. This list placed one state from the major parts of the country, so you should at least have an idea of where not to go.