In honor of Military Appreciation Month, WalletHub analyzed the best and worst states for military retirees. It’s especially relevant as the military continues to undergo major changes to its retirement system, implementing a “blended” benefits package that includes a defined-contribution, 401(k)-style plan.
The personal finance website compared the 50 states and the District of Columbia across 22 key indicators of retirement-friendliness toward veterans. The data set ranges from job opportunities for veterans to housing affordability to quality of VA hospitals.
“Retirement is typically viewed as the end of the line—a time for rest, relaxation and the pursuit of interests long ago put on the back burner,” writes WalletHub’s senior writer and editor John Kiernan. “But the narrative is far different for military retirees who must deal with the trials of re-assimilation to civilian life.”
For starters, Kiernan notes, the average officer is only 45 years old—42 for non-disability enlisted personnel—upon retirement from service.
“Many of those who reenter the job market face tough challenges during the transition while others struggle with more difficult problems, such as Posttraumatic Stress Disorder, disability and homelessness.”
So, which rank at the top for the services and support offered, and which should be court-martialed. The list was about what you’d expect, but with a few notable surprises:
Top 5 States for Military Retirees
- Florida
- Montana
- New Hampshire
- Wyoming
- South Carolina
Bottom 5 States for Military Retirees
- Connecticut
- Utah
- North Carolina
- Rhode Island
- New Jersey
Dishonorable Mention
District of Columbia—Sure, it’s not technically a state, but the nation’s capital, which sets military policy, came in dead last.
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.
