As more Americans live longer, thanks to improved health care, medicines and lifestyle changes, they are thinking about where they would like to live out the rest of their lives. Some states are much less desirable retirement destinations than others, according to a new report from Blacktower Financial Management Group. Blacktower ranked the 50 states according to their desirability for retirement, based on several criteria that are certain to influence people's decision. The rankings are an updated version of the firm's 2019 study. Researchers calculated the index first by normalizing the data categories individually from 0 to 1 and then summing the results: |
- Crime: the state with the highest rate of crime (per 100,000) would be weighted closer to 0
- Cost of living: the state with the highest cost (on a 100-point scale) is weighted closer to 0
- Population 60 and older: lower percentage of population is weighted closer to 0
- Property prices: higher property prices are weighted down
- Life expectancy: lower expectancy longevity is weighted down
Most of the 10 worst states for retirement maintained their 2019 positions at the bottom of the rankings. Some had especially high crime rates, others expensive housing and still others too small a population of older people. See the gallery above for the 10 worst states for retirement. READ MORE: |
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
