Ranked: The Best and Worst US States to Retire In

Are you on the quest for your perfect retirement destination? Look no further! Here's a list of the very best and not-so-great states to spend your golden years in. From the sun-kissed shores of Florida to the majestic landscapes of Alaska, join us as we explore some key factors for retirement — including the cost of living, tax policies, healthcare, climate, and overall quality of life.

Iowa

As much as Florida likes to boast its status as the favorite place for the elderly, it's Iowa that takes the top place for the best retirement state in the US.

The Hawkeye State's biggest draw is its ability to give its residents a more relaxed, affordable lifestyle. The cost of living in the state is low compared to other states, with a decrease of almost 10-15%. But that's not all the reason why this secured the top spot.

Iowa: Tax Benefits and More

Iowa is a tax-friendly state, and its residents enjoy the traditional benefits of 401(k), 403(b), and IRA plans. The state is also working on introducing exceptions for people aged 55 and older, making it much easier for retirees to sustain their lifestyle without the hassle of taxes.

Plus, for the elders, Iowa offers excellent healthcare services at low costs. Making friends is also easier in the state, as more than 20% of the population is above the age of 65!

Minnesota

Following Iowa. Minnesota clinched the spot for the second-best state to live out your second innings. The state has a lot to offer the retirees, coming in 9th as the most fun state in the country.

People in the state enjoy a breathtaking view, with the state's natural beauty taking one's breath away. Minnesota also has a rich cultural and heritage side, as well as a community that welcomes everybody with open arms. The cost of living in this state is quite reasonable, allowing one to savor this delightful location for the entirety of their day.

Minnesota: A Boon of Healthcare

If you're looking to be a Minnesotan after you leave the work life behind and are worried about the money? Well, we've got some good news for you.

While Minnesota does not stand out a lot when it comes to affordability and taxes, it is the state's amazing healthcare system that gives it an extra edge and makes it a great place to retire. The state has the fourth-best healthcare system, making it a desirable state for retirees.