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Study finds Alaska, Nevada worst states for retirement; Iowa, Hawaii among best

Posted at 2:44 PM, Feb 28, 2018
and last updated 2018-02-28 17:44:21-05

A study has found the worst states for retirement and the results may be surprising to some.

According to the study on Money-Rates.com, Alaska is the worst state for retirement, partially due to the state's severe weather, but also the high cost of living and unemployment rate. 

Nevada, often known for being a retirement destination, was ranked No. 2 in the study with violent crime being a major problem.

The crime rate was a significant reason why Louisiana came 3rd on the list while economic factors such as unemployment and cost of living put Washington at No. 4.

The economy in Illinois, in particular, the high property taxes, placed it at No. 5, along with its occasional severe weather.

The climate is a positive for Georgia, but the study found there was a low life expectancy in the state along with high property crime rates, bringing the Peach State to No. 6. 

Michigan and Texas tied for 7th place with the climate for the former and property and violent crime for the latter. Meanwhile, cost of living is high in Maryland, putting that state at 8th place.

Finally, Ohio and New York tied for 10th place despite opposite issues. Ohio has a high rate of property crime while New York has a low rate. New York has a high cost of living compared to Ohio's low cost. 

Now, Money-Rates.com's top states for retirement were Iowa, Hawaii, Arizona, Florida, Maine, Idaho, Vermont, New Hampshire, Kansas and Virginia. 

This is just one study, though. WalletHub came out with its own study in January and found that Nevada is ranked No. 16 while Alaska is No. 30 among the best states, not the worst. Florida was No. 1 in WalletHub's study while Hawaii was actually found among the worst at No. 42.