What's the worst place you could retire to?
September 15, 2010
Where is the worst place you could imagine spending your retirement?
This coming Monday, September 20, MoneyRates.com will post its list of the 10 worst states for retirees. If you are giving some thought now to where to spend your golden years, this list is a must-read.
What makes a bad place for retirement?
What will determine the list of the worst states for retirees? Naturally, subjective opinions on what makes a place great or terrible will vary, but MoneyRates.com takes an objective view by coming up with a list of quantifiable criteria.
Those criteria take into account the following factors that can make a state a bad place for retirees:
- A bad economy. Even if you are no longer working, you don't want to be living in a bad economic environment, because that can lead to deteriorating housing values and a decline in the availability of commercial and social services. MoneyRates.com looked at tax burden, unemployment and cost of living as economic indicators.
- Crime. Both personal and property security are important to retirees, so the MoneyRates.com study accounted for both.
- Bad weather. Since most people are comfortable in a moderate climate, the MoneyRates.com accounted for how extreme a state's temperatures could be, high or low, throughout the year.
- Shorter life expectancy. There are surprising variations among states in life expectancies. Whether it is because of the health care, the environment or something else, states with short life expectancies should be less attractive to retirees.
Add your take on retirement locations
These objective criteria are food for thought before you decide on a retirement location. Ultimately, your own opinions matter, so we invite you to share your opinions.
Join the discussion by commenting on this blog. Before we release the 10 worst places to retire, get your thoughts in early. What do you think are the worst states for retirement, and why?
When our list of the worst states for retirement is published next week, tell us what you think. What redeeming features do these states have? What terrible places for retirees did we overlook?