Best States To Retire 2020

Many of us look forward to the day that we retire. All of the years of hard work will be behind us, and we’ll be able to begin to enjoy the fruits of our labors. Some of us have even planned where we will retire. Maybe it’s a state known for warm sunshine or beautiful beaches. Perhaps it’s a state with rolling fields and beautiful countryside. Perhaps you want to retire in a beautiful condo in the middle of all of the action.

Whether retirement is many years away or you’re counting down the days, it’s never too early or too late to begin researching your options for retirement – starting with the states that are ranked as the best for retirement.

It’s important to note that there is no definitive measure of the best state for retirement. However, some publications and think tanks have used several factors to compile their lists of the best states for retirement.

Kiplinger created one list. The factors used to determine the ranking of all 50 states include living expenses, health care costs, poverty rates, and the economic wellness of the state.

According to Kiplinger’s list, South Dakota has ranked the top state for retirement. The cost of living is 4% below the national average, health care costs are below average, and it is one of the most fiscally sound states in the nation.

The state of Hawaii is the second top state for retirees. Even though the cost of living is high above the national average, health care costs are very affordable. The beautiful beaches, high household income levels, and a healthy population all contribute to this state’s ranking on Kiplinger’s list.

The state of Georgia is ranked number 3 in this poll. The cost of living in this state is 7% below the national average. The warm weather and being a tax-friendly state for retirees is why Georgia is ranked so favorably.

The top 10 states in Kiplinger’s 2017 poll are:

State Annual Spending for Comfortable Retirement 2020 Pop.
Mississippi$53,071.872,989,260
Oklahoma$54,558.133,954,821
Arkansas$54,743.913,038,999
Missouri$54,991.626,169,270
Michigan$55,301.2610,045,029
Alabama$55,425.114,908,621
Tennessee$55,425.116,897,576
Kansas$55,548.972,910,357
Indiana$55,796.686,745,354
Wyoming$56,044.39567,025
Georgia$56,477.8810,736,059
Texas$56,539.8129,472,295
Iowa$56,849.453,179,849
Kentucky$56,849.454,499,692
New Mexico$57,468.722,096,640
Ohio$57,468.7211,747,694
Nebraska$57,778.361,952,570
Louisiana$57,964.144,645,184
North Carolina$58,211.8510,611,862
Idaho$58,335.711,826,156
West Virginia$58,645.341,778,070
Illinois$59,264.6212,659,682
Wisconsin$59,326.555,851,754
Arizona$60,503.177,378,494
Utah$60,812.813,282,115
South Carolina$60,874.735,210,095
South Dakota$60,998.59903,027
Pennsylvania$61,060.5212,820,878
North Dakota$61,122.44761,723
Florida$61,246.321,992,985
Minnesota$62,856.415,700,671
Virginia$63,166.058,626,207
Montana$64,404.61,086,759
Colorado$65,333.515,845,526
Delaware$65,643.15982,895
Nevada$67,067.483,139,658
New Hampshire$67,686.761,371,246
Washington$67,810.617,797,095
Maine$72,579.031,345,790
Vermont$73,507.94628,061
New Jersey$75,861.198,936,574
Rhode Island$75,861.191,056,161
Connecticut$79,762.623,563,077
Alaska$80,877.32734,002
Oregon$81,248.884,301,089
Maryland$81,310.816,083,116
Massachusetts$82,8596,976,597
New York$84,035.6219,440,469
California$85,893.4439,937,489
District of Columbia$100,879.9720,687
Hawaii$117,724.181,412,687