According to the data collected in the most recent studies, South Dakota has been pronounced the best state for retirement. Continue reading below.
South Dakota Named the Best State for Retirement
The previous title holders — Florida and New Hampshire — lost to the newest candidate that beat them to it by passing through all seven categories required.
The study was performed by collecting all data about the overall quality of life in this state, and it was conducted by the personal finance website Bankrate.
It was required to fulfill all the necessary criteria that included costs of living, the height of taxes, and the overall well-being of the elderly.
According to Taylor Tepper, one of the analysts at the Bankrate, people were mostly surprised by this result since it is a common misconception that elderly should live in a warm climate, close to a significant body of water. However, the truth is that South Dakota has a multitude of benefits to offer that are often overlooked.
Tepper went on to explain how the low tax rate was one of the crucial factors in their decision. She added that the reports stated that South Dakotans placed first in ‘overall well-being’ criteria. They came 10th in cultural vitality and 12th in the quality of health-care institutions. Unfortunately, the biggest downside in this report was the weather in South Dakota, which is why they ranked 38th in this criteria.
Taylor Tepper added that even though South Dakota offers a climate that is not that attractive to most when it comes to the ‘retirement talk,’ other candidates that have even worse weather conditions made it high on the list.
When it comes to the rest of the contestants, Utah and Idaho reached some of the top spots on the list, while Florida came fifth. Idaho ranked well too due to its low crime rate and high-quality health-care institutions.
But what about the worst rankings? The state of New York came in last with apparent setbacks, such as the highest cost of living along with high taxes. New Mexico and Maryland fought for the second-worst on the list, and the results were tied.