Bankrate.com determined the rankings by examining 11 public and private datasets related to the life of someone who is retired, broken down into five categories: affordability (40%), wellness (25%), weather (15%), culture (15%) and crime (5%).
New Jersey, which was ranked No. 42 overall, fared well in crime (No. 5), but was ranked No. 48 in affordability, the study’s most important metric. The Garden State wound up in middle of the pack in the rest of the categories — No. 16 in culture, No. 22 in weather and No. 23 in wellness.
“There are many factors to consider when deciding where to retire,” Adrian Garcia, data analyst for Bankrate.com, said. “Some people may choose to stay close to family, while others prefer to seek out warm weather or affordable living. It comes down to very personal preferences, so it’s important to weigh all factors and determine what is most important for your happiness.”
The Top 5 states to retire, according to Bankrate.com, include:
- South Dakota;
The Top 5 worst states to retire include:
- New York;
To see the full rankings and methodology, click here.