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Worst States To Retire 2021

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 2021

State Yearly Expenses Savings Required 2021 Pop.
Hawaii$99,170$1.84 Mn1,406,430
California$71,809$1.46 Mn39,613,493
New York$69,847$1.41 Mn19,299,981
Massachusetts$69,279$1.16 Mn6,912,239
Oregon$68,712$1.34 Mn4,289,439
Maryland$67,214$1.11 Mn6,065,436
Alaska$66,956$1.34 Mn724,357
Connecticut$66,543$1.25 Mn3,552,821
New Jersey$64,736$1.20 Mn8,874,520
Rhode Island$62,413$1.07 Mn1,061,509
Maine$60,555$1.09 Mn1,354,522
Vermont$60,348$1.08 Mn623,251
Washington$56,890$1.09 Mn7,796,941
Nevada$56,373$1.01 Mn3,185,786
New Hampshire$55,960$946,8501,372,203
Delaware$55,289$1.01 Mn990,334
Colorado$54,670$977,4965,893,634
Montana$54,205$839,0961,085,004
Minnesota$52,605$991,0755,706,398
Virginia$52,295$884,8338,603,985
Arizona$52,140$1.01 Mn7,520,103
Florida$51,159$927,00821,944,577
Pennsylvania$51,005$856,87612,804,123
Utah$50,850$872,5803,310,774
South Dakota$50,850$738,337896,581
North Dakota$50,850$823,764770,026
Wisconsin$49,714$924,6795,852,490
South Carolina$49,507$784,1975,277,830
Wyoming$49,404$824,062581,075
Illinois$49,043$882,77012,569,321
North Carolina$48,733$865,49910,701,022
Idaho$48,423$871,6201,860,123
Louisiana$48,320$776,9874,627,002
Nebraska$47,649$806,2201,951,996
Ohio$47,597$776,78811,714,618
West Virginia$47,546$787,3571,767,859
Iowa$47,494$820,6983,167,974
Kentucky$47,339$738,4924,480,713
Texas$47,236$765,22329,730,311
New Mexico$47,184$883,2912,105,005
Georgia$46,771$796,98410,830,007
Indiana$46,720$784,8916,805,663
Kansas$46,255$732,6812,917,224
Michigan$46,203$864,9299,992,427
Alabama$46,049$712,8324,934,193
Tennessee$45,894$660,8706,944,260
Missouri$45,584$771,2816,169,038
Arkansas$45,274$728,0103,033,946
Oklahoma$45,016$723,8593,990,443
Mississippi$44,758$617,6612,966,407

Worst States To Retire 2021