The methodology (for determining the best and worst states) was purely quantitative, so states were either able to deliver on the basis of numbers, or not.
Foster City, CA (PRWEB) September 22, 2010
MoneyRates.com released its list of the 10 best states for retirement, and the results may be surprising.
According to a new study by MoneyRates.com, the trusted source of information for personal finance, savings accounts and investing since 1999, the best places to retire can be determined by the state's economy, climate, crime and average life expectancy.
On Monday, MoneyRates.com published a list of the 10 worst states for retirement. Now find out which states ranked as the 10 best for retirement, and why.
Though no location is perfect for every person, finding a combination of elements that fit a particular individual's lifestyle can spell retirement bliss. Real estate's motto for success -- "location, location, location" -- also rings true for individuals seeking safety, longevity and fiscal health in retirement.
States were compared using quantifiable economic factors including cost of living, unemployment, and average state and local tax burden, in conjunction with other measurable data points like average temperatures, crime rate and average lifespan of residents.
The best U.S. states for retirement, with No. 1 being the best, are:
1. New Hampshire
3. South Dakota
4. North Dakota
Richard Barrington, personal finance expert for MoneyRates.com, said, "Perhaps the greatest thing about this list is that it is very representative. The Atlantic coast and a Pacific island are represented; the northeast, the Midwest and the Southeast all made the list. There is no bias towards any part of the country."
He added, "The methodology was purely quantitative, so states were either able to deliver on the basis of numbers, or not. Having the Dakotas make the list was a bit of a surprise and they might be otherwise overlooked, but they have some characteristics very favorable to retirees -- if you can take the weather."
For more details on the rankings, read the full article on MoneyRates.com, 10 best states for retirement.
Readers can join the discussion on the best and worst states for retirement on the MoneyRates.com blog.
Founded in 1999, MoneyRates.com helps consumers find the best rates on high yield money market accounts, savings accounts, checking accounts and CDs. The Wall Street Journal, The New York Times, Barron's, USA Today, SmartMoney and U.S. News and World Report regularly source MoneyRates.com for investor and consumer insights.
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