Finding the ideal place to spend your golden years? Maine earned the No. 3 place to be for 2017 in Moneyrates’ new study of the best and worst states for retirement.

Retirement definition highlighted in green
Wavebreakmedia Ltd

With retirement savings proving to be difficult for most, they may be considering states with more favorable economic factors than ones with sunshine and warm climate.

Why Maine? Maine has the highest proportion of residents aged 60 or over out of any state. One obvious attraction is personal safety. Maine has the lowest rate of violent crime of any state, and it also has less property crime than most states.

Here’s what our number-crunching revealed:

Best states for retirementWorst states for retirement
1. Iowa 1. Alaska
2. Hawaii 2. Louisiana
3. Maine 3. Georgia
4. New Hampshire 4. Nevada
5. Vermont 5. Illinois

Interesting takeaways:

  • Eight of the ten states with the largest proportions of residents aged 60 or over are north of the Mason-Dixon Line, including three New England states.
  • Alaska was rated the worst state for retirement. The climate is an obvious drawback, but Alaska also suffers from one of the highest violent crime rates in the nation, and it does not score well for economic factors.
  • Only 3 warmer-climate states made it into the top 10 states for retirement.

Methodology: looked at eleven different criteria grouped into five categories to determine 2017's best and worst states for retirement. The five major categories included: health and longevity, personal safety, climate, economic factors, proportion of older residents.

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