Georgia is nation’s best state for retirees, new study says. Here’s why
Americans readying for retirement should consider putting down roots in Georgia, a new study suggests.
Affordability and great weather put the Peach State in the No. 1 spot for retirees, according to a report released by financial services firm Bankrate on Wednesday. It ranked among the best states to retire in the U.S., earning an overall score of 17.2.
The nation’s most retirement-friendly states also include:
- No. 2 — Florida
- No. 3 — Tennessee
- No.4 — Missouri
- No. 5 — Massachusetts
Bankrate analyzed data on affordability, wellness, culture, weather and crime to come up with the national rankings, according to the company’s website. The firm pulled numbers from the FBI’s 2019 Crime in the United States report and weather data from the National Oceanic and Atmospheric Administration.
Georgia placed third in the nation for affordability, thanks to a low cost of living and low tax rates, according to the report. Scores for wellness and crime ranked 32nd and 39th, respectively.
“The state’s only weak spot is in the culture category — the Peach State has one of the nation’s lowest percentages of over-65 residents, and it ranks near the bottom in arts and entertainment establishments per capita,” the report reads, citing U.S. Census Bureau data.
A similar report released by personal finance website SmartAsset in February named Georgia’s coastal city of Savannah among the top 10 cities attracting Americans aged 60 and older, McClatchy News previously reported. The city, also called the “Hostess City of the South,” added 1,500 senior residents in 2019 alone.
So which states ranked worst for retirees? Maryland came in dead last, according to the report, with an overall score of 33.7. Alaska, Montana, Kansas and Minnesota also fell in the bottom five.
This story was originally published July 8, 2021 at 6:08 PM with the headline "Georgia is nation’s best state for retirees, new study says. Here’s why."