Maryland Among Worst States For Retirement — Bankrate Survey

Maryland Among Worst States For Retirement — Bankrate Survey

When balancing cost of living, taxes, health care quality and other key factors, South Dakota is the best state in the country to retire - while New York State ranks dead last, according to a new report.

In South Dakota - one of the most tax-friendly states in the USA - residents pay no personal income tax, and the median rent for a 1-bedroom apartment is $565, according to data from Apartment List.

After all, you've been planning for the golden years your whole life (hypothetically, at least), so you don't want to end up living in a place that doesn't help you make the most of your money or your leisure time. "Residents in the other top states feel similarly".

Bankrate.com found that South Dakota was the best state for retirees, beating out Utah (No. 2), Idaho (No. 3), New Hampshire (No. 4) and Florida (No. 5). "If you were on a fixed income living in a place with high cost of living - life's going to be hard".

"No one would think of South Dakota as a victor to retire". Tepper said things like culture and a sense of well-being were important to people as they retire. 'You're still the same person at age 65 that you are at age 64.

If you are like many, you may be daydreaming about the day you can retire, and where you will live.

Overall, South Dakota placed first in well-being, second in taxes, 10th in cultural vitality and 12th in health care quality.

The worst state? NY came in last, with New Mexico and Maryland tied for the second-worst spot to retire. Maryland had one of the highest costs of living, the survey found, and ranked 43rd in taxes. Arkansas was slightly worse than California. Idaho rose due to its high ranking on low crime, health care quality and well-being.

The full ranking of all 50 states is below.

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