With 25% of all nonretired adults having no retirement savings, the personal-finance website WalletHub today released its report on 2023’s Best States to Retire, as well as expert commentary.
To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 47 key metrics. Our analysis examines affordability, health-related factors and overall quality of life.
| Best States to Retire | Worst States to Retire |
| 1. Virginia 2. Florida 3. Colorado 4. Wyoming 5. Delaware 6. New Hampshire 7. South Dakota 8. Minnesota 9. Idaho 10. North Dakota |
41. Arkansas 42. Maryland 43. Washington 44. Illinois 45. Louisiana 46. New York 47. Oklahoma 48. Mississippi 49. New Jersey 50. Kentucky |
Best vs. Worst
- Alabama has the lowest adjusted cost-of-living index for retirees, 85.88, which is 2.2 times lower than in Hawaii, where it is highest at 185.37.
- West Virginia has the lowest median annual cost of elderly housekeeping, $42,328, which is 1.9 times lower than in Minnesota, where it is highest at $80,080.
- Vermont has the highest share of the population aged 65 and older still working, 23.84 percent, which is 1.8 times higher than in West Virginia, where it is lowest at 13.56 percent.
- Maine has the highest share of the population aged 65 and older, 20.60 percent, which is 1.9 times higher than in Utah, where it is lowest at 11.10 percent.
