People saving for retirement will find these states some of the best for a variety of reasons. They span the country and give residents a great place to live, work, play, and still be able to put away some funds for retirement.
There are six criteria that were factored in to determine these places for people saving for retirement: the state’s fiscal health, health care access, quality of life, employment and education opportunities, and wellness. Below are the top five U.S. states for people in the age bracket of 45 to 64:
Virginia: This state almost always lands in first place on many “best cities” lists for a multitude of reasons. In this case, it is the low cost of living, its closeness to major eastern cities, (and major international airports), offers a good variety of places to live, and a great community quality of life.
South Dakota: It ranks second and gets high marks in the financial area. The Mount Rushmore state has good fiscal health. It also offers good access to health care and has a good community quality of life.
Wyoming: It is one of two states that received the highest grade in two categories: financials and community quality of life. The state as a whole has healthy financials, and the quality of life is great all around.
Michigan: Surprised? The Enterprises TV show is. However, this state has a good number of age 65 and over still working and saving. The employment opportunities for people in this age group are good. This allows more time to earn and save to retirement is less financially stressful.
Iowa: It earned to overall grade of A in the state financial category. This is good news for people with state funded pensions.