SeniorAdvice.com is a helpful resource for those who are dealing with the challenge of transitioning to senior living. In addition to their directory of care providers, they also produce data-driven reports on a variety of senior-focused issues, including retirement affordability.
One piece which caught our eye was “The Best and Worst States for Retirement Finances,” which uses Senior Advice’s proprietary “SeniorScore” algorithm.
According to the site: “By analyzing over 100 variables, and heavily weighing financial factors such as tax rates, cost of living expenses, average income, and senior living costs, we have ranked the states based on retirement financial planning.”
Best:
1. Wyoming
2. Virginia
3. South Dakota
4. Alabama
5. Louisiana
Worst:
1. California
2. Rhode Island
3. New York
4. Illinois
5. Maine
For details on the pros and cons of each state, be sure to dig into the article:
https://www.senioradvice.com/articles/the-best-and-worst-states-for-retirement-finances
