The study analyzed data points on five weighted criteria: affordability (40 percent), well-being (20 percent), culture and diversity (15 percent), weather (15 percent) and crime (10 percent).
Four key takeaways from the top five states:
1. Michigan’s affordability is best in the nation, with a low cost of living and tax rate.
2. Despite rising living costs, Florida’s substantial population of people 65 and older keeps it at the top of the list overall.
3. Missouri and Ohio’s affordability and fair climates supersede subpar culture and well-being scores rank in the bottom half.
4. Natural disasters are rare in affordable Georgia, but its population of those 65 and older and its entertainment scene are lacking, according to Bankrate.
Bankrate’s best states for retirement:
1. Florida
2. Georgia
3. Michigan
4. Ohio
5. Missouri
6. Kentucky
7. Texas
8. Tennessee
9. Pennsylvania
10. South Dakota
Bankrate’s worst states for retirement:
1. Alaska
2. Maine
3. California
4. New Mexico
5. Montana
6. Vermont
7. Maryland
8. Connecticut
9. Hawaii
10. Washington
View Bankrate’s full ranking here.
