Why Experts Say Delaware is the Best State to Retire
If you or someone you love is entering their golden years, then perhaps you’re thinking about the best states to live in during retirement. As it turns out, experts say Delaware is the best state to retire in the entire country. This might come as a surprise to you, if you think that Delaware is an expensive place to live. But, there are some real reasons why experts believe Delaware is the best place to settle during your later years.
Experts Say Delaware is the Best State to Retire In
The experts at Bankrate, headquartered in New York City, looked at all 50 states on data points to figure out where people should retire in America. Some of the factors they looked at included living costs, health care costs, crime and overall well-being, according to FoxBusiness.com.
“The reality is that most Americans feel behind on saving for retirement, which means affordability is critical,” Alex Gailey, Bankrate analyst, told FoxBusiness.com. “A move to a more affordable location could be an effective way for soon-to-be retirees to stretch their retirement savings in this economy.” Gailey added that if you’re not as far as you should be with your savings and retirement is coming up quickly, then you have to start catching up.
According to Bankrate, via FOX Business, that No. 1 spot is Delaware. Why? Gailey says it’s because even though Delaware is one of the more expensive cities in which to live, the state offers good health care, a lighter tax burden than other cities, reasonably priced homeowners insurance and good weather. That put it above the rest of the pack. Also, Gailey says the state scored well in diversity, wellness and culture and had a higher percentage of residents who are age 62 and older.
If you’re curious, No. 2 on the tally is West Virginia. That’s a great spot because of its affordability, although it scored among the worst for quality and cost of health care. If you’re an older person going into retirement, the quality and cost of health care is important, so take note. The worst place to settle down in your later years in America, according to the study, is Alaska. It’s held that spot for two years in a row. Bankrate says Alaska has been at the bottom because of low ratings in “affordability, quality and cost of health care, weather and crime.” So, if you or a loved one is looking to retire, I hope this list comes in handy.
