Home Personal Finance WalletHub study ranks Minnesota as 8th-best place to retire

WalletHub study ranks Minnesota as 8th-best place to retire

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WalletHub, a personal finance website, compared all 50 states across 47 key metrics, looking at affordability, health-related factors, and overall quality of life.

Golden Valley, Minnesota — Retirement is one of life’s ultimate goals and a time to reap the rewards of decades of hard-earned work and careers.

But Where Your retirement can have a big impact on how financially comfortable you are in those golden years. Personal Finance Websites wallet hub Even in the most affordable parts of the United States, many retirees cannot rely solely on Social Security or pension checks to cover their living expenses.

Indeed, the Center on Budget and Policy Priorities reminds us that social security benefits increase with local inflation, but they are simply About 37% of the average worker’s income.

With 25% of pre-retirement adults having no retirement savings and only 40% of non-retired adults who believe their retirement savings are on track, WalletHub reports: It is open to the public. Best states to retire in 2023. The study compares 50 states on three key dimensions. WalletHub compared 50 states on his three main dimensions: affordability, overall quality of life, and healthcare. Among these key factors are 47 different indicators such as ease of taxation, annual cost of adult day care, risk of social isolation, and access to public transportation.

The news is pretty good if you plan to leave your job and head to Minnesota to put your hat on.

Retired in Minnesota (1=best; 25=average):

  • The 22nd – Adjusted cost of living
  • 28th day – WalletHub “Taxpayer” Ranking
  • 4th – Age-friendly labor market
  • 3rd place – Average life
  • First place – Medical facilities per capita
  • 18th – Percentage of residents aged 12 and over who are fully vaccinated against COVID-19

The report lists Virginia, Florida, Colorado, Wyoming and Delaware as the top five retirement destinations, while the bottom five are Kentucky, New Jersey, Mississippi, Oklahoma and New York. It contains.

Minnesota ranked first in multiple categories, including medical facilities and theaters per capita. We have her third highest life expectancy after Hawaii and California.

One of the strikes against Minnesota ranks as the most expensive place to hire home care services.

For more information on the report, which includes comments from eminent experts on finance, aging and longevity issues, visit Check out the WalletHub website.

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