Retire in Alabama? New analysis says state is among worst for retirees

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Are you looking for the perfect place to retire? Then you may want to look some place other than the Yellowhammer State — it was ranked the tenth-worst state to retire in a new study released Tuesday.

With almost 30 percent of all non-retired adults having no retirement savings or pension, the personal-finance website WalletHub released its report on 2018’s Best & Worst States to Retire.

To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub analysts compared the 50 states across three key dimensions 1) Affordability, 2) Quality of Life and 3) Health Care, broken down further by 41 key indicators of retirement-friendliness ranging from adjusted cost of living, to mildness of weather to health care providers per capita.

Here’s a look at how Alabama ranked in retiring (1= best; 25= avg.)

  • 19th: % of population aged 65 & older
  • 38th: Property-crime rate
  • 38th: Health-care facilities per capita
  • 44th: Elderly-friendly labor market
  • 49th: Life expectancy

Among the best states for retirement were Florida, Colorado, South Dakota, Iowa, Virginia, Wyoming, New Hampshire and Idaho.

And the worst? Kentucky, New Jersey, Rhode Island, Mississippi, Arkansas, West Virginia, Louisiana, New Mexico and Hawaii round out the top nine (in order of ranking).

See how Alabama compares to the rest of the country:

Source: WalletHub

The states were compared and ranked with data gleaned from various public and other records including the U.S. Census Bureau, Federal Bureau of Investigation, Council for Community and Economic Research, U.S. Bureau of Labor Statistics, Retirement Living Information Center, Genworth Financial, United Health Foundation, County Health Rankings, Centers for Disease Control and Prevention, Centers for Medicare & Medicaid Services, Charity Navigator, Gallup Healthways, GolfLink, The Tax Foundation, America’s Scenic Byways, NOAA Office for Coastal Management, U.S. News & World Report, Institute for Health Metrics and Evaluation, and WalletHub research.

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1 Comment

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