Money Matters – May 2017

 A recent survey that comes out on a yearly basis ranks the best states for retirees to move to and there were some changes within the top 10 states this year, Simply put the criteria that determines the overall best and worst states involves such practical things like crime rates, living costs, tax burdens, quality of medical care, and many more issues that can affect the well-being of a retired individual.
This survey is so thorough that they even incorporate a rating that looks at the buying power of $100 – that is provided by the Bureau of Economic Analysis or BEA
The Top 10 states are as follows – starting with No. 10.
10. Idaho -The state best known for its spuds offers retirees safety and affordability — and those factors aren’t small potatoes. They more than outweigh Idaho’s so-so weather and relative lack of arts and cultural resources.
Scores highest for:
• Cost of living
• Relatively low crime rates
• Seniors’ overall well-being
9. Wisconsin – Winters can be brutal — have you seen the frozen fans at mid-winter Green Bay Packers games? Still, it’s a great state for hardy seniors seeking good medical care and a place where their retirement dollars will go far.
Scores highest for:
• Health care quality
• Cost of living
• Seniors’ overall well-being
8. South Dakota – The lack of a state income tax helps make the Mount Rushmore State monumentally inexpensive. And it’s perfect if you like a variety of weather: Summer temperatures can soar above 110 degrees, while winters often go into negative double digits.
Scores highest for:
• Low tax burden
• Cost of living
• Seniors’ overall well-being
7. Massachusetts – The Bay State isn’t cheap, and the winters can be cold and snowy. But Massachusetts offers retirees a good quality of life, along with lots of history and culture.
Scores highest for:
• Health care quality
• Seniors’ overall well-being
• Relatively low crime rates
Massachusetts has the #5 Worst City in America – Worcester
6. Virginia is for lovers of affordable prices, communities where you can feel safe and relatively pleasant weather year-round. The fall foliage in the Shenandoah Valley is an annual treat, spring brings cherry blossoms, and in summer you can hit the state’s Atlantic beaches.
Scores highest for:
• Cost of living
• Relatively low crime rates
• Weather
5. Minnesota-  No surprise that the state that’s home to Mayo Clinic ranks near the top for health care. Minnesota also provides retirees with low costs, safe cities and an all-around comfortable way of life. Just be sure to bundle up during the often-harsh winters.
Scores highest for:
• Health care quality
• Cost of living
• Seniors’ overall well-being
4. Iowa – So what if the Hawkeye State doesn’t have mountains or beaches? Your retirement savings will go a long way in Iowa; the median listing price for a home is $131,000 — way below the national average of $250,000.
Scores highest for:
• Cost of living
• Health care quality
• Relatively low crime rates
3. – Maine America’s easternmost state is near the top of our retirement ranking thanks in part to its health care system that’s graded the best in the nation. And Maine is No. 2 behind Florida in the percentage of residents over 65, meaning it’s easier for seniors to find friends their age.
Scores highest for:
• Health care quality
• The presence of other seniors
• Relatively low crime rates
2. Colorado – Though resort towns like Aspen are notoriously expensive, Colorado is generally more affordable than most state’s. Its sparkling rivers and crisp mountain air contribute to the Centennial State’s consistently strong showing in an annual index of well-being.
Scores highest for:
Health care quality
Cost of living
Seniors’ overall well-being
1. New Hampshire – The Granite State is a solid choice for retirees — a place where seniors find safety, satisfaction, friendships and excellent medical care. The fall leaf peeping is spectacular and more than makes up for the cold winters.
Scores highest for:
Health care quality
Relatively low crime rates
Seniors’ overall well-being
Only Massachusetts has one of the newly ranked 10-Worst Cities in America.  Oddly enough California has two, New York has four, Connecticut has two, Massachusetts has one (as noted), and Arkansas has one.
Arizona – where we are in the process of building a second home which will eventually turn into one of two retirement residences is rated #12.  Other nearby states are Utah #11, and Idaho #10 – where we intend to spend four to five months a year.
The 5-worst states, according to this research are Louisiana, New Mexico, Arkansas, West Virginia, and Alaska, #49 through #50 respectively.  Remember this research was done for 55+ people that are considering retiring and what states they can find the much-needed necessities for comfortable sustainable retirement.
For more information, please call Douglas J. Sedam at 1-866-549-3900, 661-295-2400 #1 or email: Doug.Sedam@ThePaseoGroup.com.  You may also learn more at www.ThePaseoGroup.com.
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