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Worst States To Retire 2022

Most people have their ideal retirement location – the place they will retreat to for their rest of their lives after many years of working. One’s dream spot, however, might not be realistic or within their means. And while everyone’s preferences for retirement are different there are states considered to be the “best” and “worst” for retirement.

The cost of living is a big factor for retirement, as it varies greatly between states. Additionally, crime rate, weather, health care, and whether or not the state taxes Social Security benefits are all taken into consideration when finding the ideal place to retire.

The largest factor of these, and arguably the most significant, is the annual spending for comfortable retirement (the cost of living) in each state. Not surprisingly, this list is very similar to the most expensive states to live in.

Hawaii is considered to be the worst state to retire in. The annual spending for comfortable retirement in Hawaii is the highest of all 50 states at $117,724.18 per year. While the weather might be beautiful and the thought of an island retirement sounds ideal to many people, Hawaii is one of the most expensive states to both live and retire in.

The District of Columbia follows Hawaii with annual spending for comfortable retirement of $100,879.90 per year. Hawaii and Washington DC are the only two states with annual spending for comfortable retirement above $100,000. If one were to base their retirement location entirely on the lowest cost of living, Mississippi, Oklahoma, Arkansas, Missouri, and Michigan would be the best options.

Here are the 10 states with the highest retirement cost:

  1. Hawaii ($99,170)
  2. California ($71,809)
  3. New York ($69,847)
  4. Massachusetts ($69,279)
  5. Oregon ($68,712)
  6. Maryland ($67,214)
  7. Alaska ($66,956)
  8. Connecticut ($66,543)
  9. New Jersey ($64,736)
  10. Rhode Island ($62,413)

Worst States To Retire 2022

State Yearly Expenses Savings Required 2022 Pop.
Hawaii$99,170$1.84 Mn1,474,265
California$71,809$1.46 Mn39,995,077
New York$69,847$1.41 Mn20,365,879
Massachusetts$69,279$1.16 Mn7,126,375
Oregon$68,712$1.34 Mn4,318,492
Maryland$67,214$1.11 Mn6,257,958
Alaska$66,956$1.34 Mn738,023
Connecticut$66,543$1.25 Mn3,612,314
New Jersey$64,736$1.20 Mn9,388,414
Rhode Island$62,413$1.07 Mn1,106,341
Maine$60,555$1.09 Mn1,369,159
Vermont$60,348$1.08 Mn646,545
Washington$56,890$1.09 Mn7,901,429
Nevada$56,373$1.01 Mn3,185,426
New Hampshire$55,960$946,8501,389,741
Delaware$55,289$1.01 Mn1,008,350
Colorado$54,670$977,4965,922,618
Montana$54,205$839,0961,103,187
Minnesota$52,605$991,0755,787,008
Virginia$52,295$884,8338,757,467
Arizona$52,140$1.01 Mn7,303,398
Florida$51,159$927,00822,085,563
Pennsylvania$51,005$856,87613,062,764
North Dakota$50,850$823,764800,394
South Dakota$50,850$738,337901,165
Utah$50,850$872,5803,373,162
Wisconsin$49,714$924,6795,935,064
South Carolina$49,507$784,1975,217,037
Wyoming$49,404$824,062579,495
Illinois$49,043$882,77012,808,884
North Carolina$48,733$865,49910,620,168
Idaho$48,423$871,6201,893,410
Louisiana$48,320$776,9874,682,633
Nebraska$47,649$806,2201,988,536
Ohio$47,597$776,78811,852,036
West Virginia$47,546$787,3571,781,860
Iowa$47,494$820,6983,219,171
Kentucky$47,339$738,4924,539,130
Texas$47,236$765,22329,945,493
New Mexico$47,184$883,2912,129,190
Georgia$46,771$796,98410,916,760
Indiana$46,720$784,8916,845,874
Kansas$46,255$732,6812,954,832
Michigan$46,203$864,92910,116,069
Alabama$46,049$712,8325,073,187
Tennessee$45,894$660,8707,023,788
Missouri$45,584$771,2816,188,111
Arkansas$45,274$728,0103,030,646
Oklahoma$45,016$723,8594,000,953
Mississippi$44,758$617,6612,960,075

Worst States To Retire 2022

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