As much as most of us love it here, Nevada might not be the best state to retire to! According to a recent study put out by WalletHub, 28% of working adults have not saved enough to retire on. And the fact that Social Security will only fill that income void by about 37%.
The article goes on to say that depending on where you end up living when you retire, can make your dollar go a little further. WalletHub looked at all 50 states and took into consideration being retirement friendly, the cost of living, medical care and more. They also factored in outdoor activities…which the Silver State has a lot of!
Nevada Is Not The Best
Although we might not be the worst, after all is said and done, our state is nowhere near the best. Even more so, we’re not even in the Top 10! But do consider we have no state tax, we do seem to be retirement “friendly” and there’s always something to do. Aside from the great weather, it would seem that our state would be considered a fairly good place to retire.
However, when it comes to the worst after you tally up the score, Kentucky comes in last! In fact, Oklahoma, Rhode Island, Mississippi and New Jersey round out the bottom 5!
One of the surprising facts of this study is that even Alaska and Hawaii might be a better place to retire than Nevada! Considering where the they both come in on the list, that does not bode well for fans of our state!
But where do we rank on the list? Surprisingly enough we are #33 on the list! #33! Think about that for a minute…you would have a better retirement life in 32 other states than here! What the heck! You might want even consider Alabama, Missouri, or even South Dakota before it’s too late! You know what, I think I’ll stay right here!
Now that you know we’re at #33, what are the best states to retire to…scroll down and see what the Top 5 are!
Top 5 States To Retire
#5 WYOMING
Considering that this state does not have an individual income tax or even a corporate income tax, might not be that bad here. On the other hand, it does get VERY, VERY COLD in the winter time. Nonetheless, it comes in at #5 on the list!
#4 DELAWARE
Near the ocean, it’s a smaller state, but boasts no sales tax! Again, it does get cold there in the winter…but there has to be other reasons as to why this state is #4 on the list!
#3 VIRGINIA
Well, they do say that Virginia is for “Lovers”, but it might be for retirees as well! This state has the beautiful mountains, a lot of green…and great tax breaks for those being retired. Maybe a few reasons as to why this state is #3 on the list.
#2 COLORADO
People just seem to love the state of Colorado and all that it offers. Every season has something to offer when it comes to being outdoors and there’s no denying it’s a beautiful state. Along with all the other advantages, The Rocky Mountain State comes in at #2 on the list!
#1 FLORIDA
As much as we make fun of the state, clearly this has been a hot spot for those looking to retire. The tax benefits, medical and all the other things we look for when we want to retire. You have the ocean, the lifestyle and more. Florida is #1 when it comes to retiring! Congrats!
