Here are the 5 best states for retirees in 2020

Business

Ariel Skelley

Personal finance website WalletHub is out with another list of the best states in which to spend your retirement.

Factoring in affordability, quality of life and health care, Florida came in first.

Yet a recent ranking by Business Insider dubbed Mississippi the winner. Nebraska took the title in another list last year compiled by The New York Times.

If you’re confused by competing retirement listicle claims, focus on how much a potential retirement destination meets your unique requirements and sensibilities. Some lists look at taxes; others, the weather. What matters most to you?

More from Personal Finance:
Single seniors can’t pay for basics, and Social Security’s not enough
New law took a retirement strategy out of play. How to get around it
What to do about Medicare if you’re almost 65 and still working

“It’s a broad brush stroke when it comes to states,” Mark Hamrick, senior economic analyst at Bankrate.com, has told CNBC.

And relocating to another state is simply not an option for everyone.

Before you pack up, experts advise that you ask yourself a few questions about a new place. Who, if anyone, do you know there? Are you familiar with the culture? Will you be able to find appropriate housing?

All of that considered, these lists can be a great jumping off point to start thinking about your future. Here are the states that made WalletHub’s list for 2020 of best places for retirees.

1. Florida

Fisher Island, Miami Beach, Florida

felixmizioznikov

2. Colorado

Rocky Mountains

scottiebumich

3. New Hampshire

Portsmouth, New Hampshire

DenisTangneyJr

4. Utah

Monument Valley, Utah

Bartfett

5. Wyoming

Grand Teton National Park, Wyoming

crbellette

Products You May Like

Articles You May Like

More than three-quarters of leading charities state they offer flexible working, research suggests
Visa & Mastercard execs grilled by senators on high swipe fees
More than half of Brits say financial pressures make donating to charity unaffordable
Lil Prince Charmin’ Releases New Single “Lil Get It”
Wednesday's big stock stories: What’s likely to move the market in the next trading session