Most of us imagine retirement as a peaceful era characterized by minimal concerns and low anxiety. A time to finally do what we want when we want…right?
Unfortunately, this isn’t the case if you pick the wrong spot (specifically the wrong state) to live out your golden years. A high cost of living, rampant crime, poor medical care, and lack of amenities can all contribute to a miserable and challenging retirement.
Finding the perfect location to spend your retirement is the first step to enjoying the maximum amount of lovely days. If you’re looking to relocate for a fulfilling retirement experience, it’s important to reconsider residing in any of the states listed below.
Here are the most miserable states for retiring according to a recent Bank Rate survey.
1. Alaska
The 2023 Bankrate Survey shows that Alaska is ranked as one of the most expensive places to retire. The Alaskan weather can also be tough, with severely cold temps and no sunshine for many winter months, leading to problems like seasonal depression.
2. New York
Many retirees stay away from New York due to the high cost of living, high taxes, and harsh winter weather conditions. A recipe for retirement misery.
3. California
California isn’t preferred by many due to the skyrocketing home prices, high taxes, and overall high living expenses. Yet, many people who can afford it end up there because they love the weather and quality of healthcare.
4. Illinois
With the high pension crisis, skyrocketing property taxes, and general economic instability, Illinois consistently ranked among the worst states to retire to.
5. New Jersey
Housing is one of the most important things to consider when choosing your preferred retirement location. New Jersey was also ranked high on expensive housing and property taxes. The cost of living is also pretty high, making it unfavorable for retirees.
6. Connecticut
If Connecticut was on your radar for your retirement plans, you might want to make new plans. With the high living costs and challenging economic environment, this state is not a favorable state to retire in. Affordability is the biggest factor that most retirees consider, making inflating costs a no-go.
7. Massachusetts
The seventh smallest state might also be a bad idea for retirement if you’re seeking an affordable state. Quality health care is essential in old age, and the high healthcare costs in Massachusetts make it a less favorable state. Plus, the high overall cost of living just adds insult to injury.
8. Maryland
Maryland poses a high tax on retirement income, which is a major setback for any retiree. Those taxes can quickly eat into a retiree’s budget and have scrambling to make ends meet.
9. Washington, D.C.
Washington, D.C. (not technically a state, but still making the list as a district) was also ranked by Bankrate as one of the worst places to retire due to the high cost of living, expensive housing, and high taxes. These all seem to be the common denominator for a retirement disaster.
10. Vermont
The weather is a good consideration when scouting for places to retire to. With its harsh winters and a small job market, Vermont isn’t the best place to retire.
11. Nevada
No one wants to retire in a state with limited healthcare options at a time when you may need quality healthcare. Nevada also reports high crime rates and economic struggles. The weather might be warm in most of the state, but it turns out many retirees don’t think it’s worth it.
12. Washington
Washington, the state, made the top 5 of worst places to retire to. It received this ranking due to mediocre weather (aka lots of rain and gloom), poor healthcare quality, and higher living costs.
In the end, anyone planning to retire soon should find a state with low retirement income rates, low crime, programs that promote health and well-being, decent healthcare at a reasonable price, and pleasant weather. Finding the right place can help a retired person stretch their dollars and still maintain a high quality of life.
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JayDee Vykoukal is a writer, author, mom, and Doctor of Physical Therapy. She has been writing about everything motherhood and health-related since 2018 when her first daughter was born, and she wanted to stay home. She loves to research new topics and fun facts with her kids to teach them about the world.
