We made a point of explaining the strengths and weaknesses of each state. What we've tried to put on the table is a starting point to get people thinking about what they should look for when they choose a state for their retirement home.
Foster City, CA (PRWEB) October 03, 2011
MoneyRates.com releases its 2011 ranking of the 10 best states for retirement, with Texas taking the No. 1 spot as the top U.S. state for retirement. The 10 best states for retirement feature – and its accompanying ranking of the 10 worst states for retirement – offer individuals a starting point for making the decision about where to live during their golden years.
Several critical factors that vary by location can greatly affect quality of life in retirement. MoneyRates.com’s state rankings are based on data about each state’s economic condition, climate, life expectancy of residents and crime rates. This year, the 10 best states for retirement ranking also takes into account reader input about the relative importance of each of these factors.
The 10 best states for retirement are, according to MoneyRates.com’s 2011 ranking:
8. South Dakota
“The rankings make a great deal of sense when viewed through the lens of what most people care about: the economic environment and warm weather,” said Richard Barrington, personal finance expert for MoneyRates.com. “In particular, we considered economic factors such as low cost of living and tax rates, because these would be useful to seniors who are making do with a fixed income in this low-interest-rate environment.”
Barrington also stresses that individuals can have very different preferences for choosing a location for retirement but points out that the MoneyRates.com ranking can help narrow down options.
“We made a point of explaining the strengths and weaknesses of each state in the top and bottom ten, so people can make decisions based on which factors are important to them,” Barrington said. “No list can be definitive for everybody; what we've tried to put on the table is a starting point to get people thinking about what they should look for when they choose a state for their retirement home.”
The full article, 10 best states for retirement, offers more details on why each state ranked in the top 10. Accompanying features list MoneyRates.com’s picks for the 10 worst states for retirement and showcase an updated ranking of all 50 U.S. states.
MoneyRates.com evaluated U.S. states based on factors in four major categories: economics (including cost of living, tax rates and unemployment), climate, life expectancy and violent and property crime rates. The ranking factors were weighted in relative importance using reader responses to an online poll.
MoneyRates.com has been a leading source of information on bank rates, personal finance, savings accounts and investing since 1999. The site provides the highest rates on certificates of deposit, money market accounts and high-yield savings accounts. The Web Marketing Association awarded a Financial Services Standard of Excellence to MoneyRates.com in the 2011 WebAwards competition.
MoneyRates.com is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.