Published: Fri, July 13, 2018
Medical | By Johnnie Horton

Bankrate Survey: Maryland Among Worst States For Retirement

Bankrate Survey: Maryland Among Worst States For Retirement

New York's taxes are also among the worst. They savor their day-to-day lives, feel financially secure and have a strong sense of community'.

Bankrate.com found that South Dakota was the best state for retirees, beating out Utah (No. 2), Idaho (No. 3), New Hampshire (No. 4) and Florida (No. 5).

"I think people will be surprised South Dakota came out on top [because] we all have this cultural bias that retirees should live in warmth by a big body of water", Taylor Tepper, analyst at Bankrate.com, tells FOX Business. 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.

"No one would think of South Dakota as a victor to retire". "If you were on a fixed income living in a place with high cost of living - life's going to be hard". The biggest downer - the weather - ranked at No. 38.

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'The unconventional states at the top of the ratings are surprising in and of themselves because they buck the popular notion of what people want when they retire, ' Tepper said. 'You're still the same person at age 65 that you are at age 64.

The study found Maryland tied with New Mexico for the second worst place for retirees to settle.

In a roundup of the best and worst states to retire to in the U.S., Bankrate analyzed a variety of metrics, including cost of living, crime, culture, health care quality, and weather. The main drawbacks for the Big Apple include the cost of living, taxes and health care quality.

Louisiana and Arkansas followed to round out the five worst states in which to retire. Idaho rose due to its high ranking on low crime, health care quality and well-being.

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