The best state to retire in isn't Florida, new study finds

[andhra_jp]

Conventional wisdom for many Americans is to move away from cold weather and live out their senior years somewhere warm.
However, retiring in a Midwestern state would be easier on the wallet, a new Bankrate study suggests.

Not only is Iowa is the sixth cheapest state to live in, Bankrate noted, pointing to data from the Council of Community and Economic Research, the Hawkeye State also doesn't tax Social Security benefits, according to state law. That's a huge benefit for Americans in retirement looking to keep more money in their pocket, especially at a time when inflation has soared.

The national average for one person to live comfortably in retirement is around $967,000 in savings.
Every retirement scenario is different, but that's about $74,000 a year for the average American to live through retirement.

Here are the top 10 best states to retire in, according to Bankrate.

Iowa
Delaware
West Virginia
Missouri
Mississippi
Wyoming
Pennsylvania
Florida
Hawaii
Nebraska


The top 10 worst states to retire are:

50. Alaska
49. New York
48. California
47. Washington
46. Massachusetts
45. North Dakota
44. Texas
43. Colorado
42. Maryland
41. Louisiana

https://www.cbsnews.com/news/best-states-to-retire-2023-iowa-florida-bankrate/?ftag=CNM-00-10aab7e&linkId=227765804