Nearly half of us – 47 percent, according to one recent survey -- will consider relocating when we retire. But we may not be packing the sunscreen and swimsuits when we do.
States like Florida and Arizona used to be synonymous with retirement, so it may have surprised some people that neither cracked the Top 10 of Bankrate's list of the best and worst states to retire to. That's because weather is only one of several factors retirees consider when choosing a place to spend their retirement years. Other factors, like cost of living and access to healthcare, are often far more important in making a decision on where to spend the rest of your life. As a result, cold-weather states New Hampshire (#1), Maine (#3) and Minnesota (#5) were rated highly by Bankrate. They may not be the best places to work on your golf game or take up paddle boarding, but they do offer better cultural amenities, lower tax and crime rates and large senior populations. And, yes,
And, yes, weather was also factored into Bankrate's ratings, as was cost of living and quality of healthcare options.
The reason Arizona (#11), Florida (#17) and other presumed retiree meccas don't crack the top 10 is largely because they’re more expensive. Retirees are living longer, and those traditional enclaves for older folks drain retirement savings faster than most people are comfortable with. Weather is only a factor in 49 percent of retirees' decision-making processes when choosing a place to live; cost of living (70 percent) and health care (68 percent) are far more important factors to the current crop of people planning for retirement. Here's a breakdown of what the top 10 states in Bankrate's rankings offer retirees, followed by a look at where the 10 states at the bottom of the list come up short.