Planning on retirement? According to a Bankrate study, you might not want to do it in Maryland. "Yes, South Dakotans enjoy a low tax burden, but they are also more satisfied with their lives than anyone else". And unfortunately for those in the northeast, NY landed at the bottom, due in large part to its cost of living being higher than any other state in the union. To determine this ranking, they looked at seven categories that affect retirees and compared them across every state with the help of multiple sources.
"They savor their day-to-day lives, feel financially secure and have a strong sense of community", said Tepper.
South Dakota - home to Mount Rushmore - is the best place in the country to retire, according to a new study weighing factors such as taxes, health care quality and culture.
However, other states dinged for cold, snowy winters also made the top five this year.
Utah scored high for having an affordable cost of living, good sense of well-being, low-taxes - and ranked first in the low-crime category. Weather was the only metric to hit the bottom rung of the ranking ladder.
If you're thinking about retirement - or just dreaming about it - you might be wondering where you should land. 'You're still the same person at age 65 that you are at age 64.
If you are like many, you may be daydreaming about the day you can retire, and where you will live.
New Mexico and Maryland tied for the second-worst spot on the list.
Overall, South Dakota placed first in well-being, second in taxes, 10th in cultural vitality and 12th in health care quality. The main drawbacks for the Big Apple include the cost of living, taxes and health care quality. Arkansas was slightly worse than California.
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