For those fortunate to live long enough, when and where to retire is a major decision. While economics play a big role, there are multiple other factors entering into the equation. Contrary to the popular belief that most Baby Boomers desire to age in place, the latest poll by Bankrate.com found that 47 percent of people would be receptive to relocating when retiring.
So where best to retire? To answer this, Bankrate.com first asked Americans what factors are important to them when selecting a location for retirement. The following ranked the best and were indicated as either Most Important or Very Important.
70% Cost of Living
68% Health Care Quality
67% Crime Rate
54% Culture and Social
10% Retiree Population
So where are the best and least attractive retirement locations based on these metrics? Surprisingly to me, there is not one of the typical retirement destinations in the top-10. Neither Florida nor Arizona made the top ranks. Nor are there any warm-weather states.
To read the entire study from Bankrate.com click http://www.bankrate.com/retirement/states-ranked-from-first-to-worst-on-retirement-2/
For many, access and proximity to family and friends trumps all other factors. For me, I can neither live in a cold-weather state nor reside in a state with an income tax.
Where is your current planned retirement destination? Email me and we will post the results.