WalletHub, a personal financial web site for consumers, has issued two reports this year on best places to retire in 2023—one for all 50 states and one for cities with 100,000 population or more. The organization looked at 47 key indicators of retirement friendliness, such as affordability, health quality and overall quality of life.
Virginia was ranked by WalletHub as the best state for retirement while Kentucky ranked as the worst. When it comes to cities, Tampa, Florida came out on top with Stockton, California bringing up the rear.
But if health care is your biggest concern in retirement, Minnesota is the top pick, while Alabama comes in last. For highest quality of life, Massachusetts ranks number one while Mississippi takes last place. If affordability is your top concern when selecting a state to retire, Alabama is the state for you, but watch out for high costs in New York.
WalletHub suggests that retirees review multiple data points when considering potential retirement locations. Check out these reports to take a closer look.
2023's Best & Worst Places to Retire (wallethub.com) (for larger cities)
