Worst States To Retire 2020

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.

Based on this factor, the top ten worst states to retire in are:

  1. Hawaii
  2. District of Columbia
  3. California
  4. New York
  5. Massachusetts
  6. Maryland
  7. Oregon
  8. Alaska
  9. Connecticut
  10. Rhode Island

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.

Below is a table of each state’s annual spending for comfortable retirement.

Worst States To Retire 2020

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