The end of a career raises important questions about where and how to spend retirement years when one is no longer tied to a specific location.
These may include specific locations for weather or preferred activities, cultural opportunities and proximity to family, friends and health care providers.
“Deciding where to retire is a deeply personal choice, and a state-by-state index can’t capture every factor that matters to you,” Bankrate.com analyst Jeff Ostrowski said in a statement. “Some people want to stay close to family and friends. Others want warmer winters, more affordable housing or a slower pace of life.”
Ostrowski said retirees or those about to leave the workforce should carefully consider various factors before making a move.
Bankrate.com, a consumer financial services company, ploughed through a bevy of statistics on cost of living, public health and other metrics in the 50 states to provide objective answers to the where-to-retire question.
To construct its rankings of the best states for retirement in 2021, Bankrate researchers examined several public and private datasets for information related to the life of a retiree. They examined five categories, assigning a 40% weighting to affordability, 20% to wellness, 15% to culture, 15% to weather and 10% to crime.
See the gallery for the 12 best states for retirement and how they ranked in each category.
— Related on ThinkAdvisor: