Florida Man has his revenge. A report from Blacktower Financial Management Group has revealed the best and worst U.S. states for retirees in 2020 (and how these have changed year-over-year) based on crime rates, cost of living, life expectancy, property prices, and population age.
Florida took the top spot in 2020, compared to ranking ninth in 2019.
Unfortunately, Alaska came in at the bottom, named worst state for retirement for the second year in a row.
One-fifth (21%) of Americans are now over the age of 60, as improved healthcare, lifestyle and medicines have increased the life expectancy of U.S. citizens to 78.69 years of age, the study notes.
“With the population growing both in number and age, the competition for retirement real estate has never been as fierce with millions of American retirees starting to question where they want to spend the rest of their days,” it adds.
Sunshine State
Florida scored well across the board and has the second-highest population of those over age 60 in the country.
“With its warm temperatures, dazzling white beaches and range of outdoor activities, it is the perfect place to live out your retirement in style.”
The Gopher State, Minnesota, retained its second-place ranking. With a low crime rate and a high population of citizens over the age of 60, retirees can enjoy socializing and mixing with a similar age group.
The top 10 best states
- Florida
- Minnesota
- Iowa
- Ohio
- Texas
- Wisconsin
- Nebraska
- Pennsylvania
- Illinois
- Idaho
The bottom 10 worst states
Surprisingly, Hawaii checked in right behind Alaska due to expensive real estate and cost of living, driving retirees to the mainland when looking for a retirement home.
- Alaska
- Hawaii
- Nevada
- New Mexico
- Tennessee
- Alabama
- Louisiana
- Maryland
- Arkansas
- Montana
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
