Financial advisor Bankrate.com has named South Dakota the best state to retire in.
South Dakota is followed by Utah, Idaho, New Hampshire and Florida.
States were ranked on cost of living, overall crime rate, well-being, taxes and cultural vitality.
Low taxes helped put South Dakota at #1. There isn’t a state income tax and South Dakota is rated the second most tax-friendly state in the country, according to the Tax Foundation, which offers relief for seniors living on a fixed income. The Rushmore State also scored well on health care value and cultural vitality.
Things counting against South Dakota were the state’s cost of living score, overall crime rate and, not surprisingly, the weather.
Nevertheless, South Dakotans are very content with their lives. Gallup’s State of American Well-Being series enlists more than 2.5 million surveys to judge how people feel about five aspects of their lives: purpose (a reason to get up in the morning), social (loving and meaningful relationships), financial (lack of money stress), community (love where you live) and physical (good health). Residents of South Dakota scored the highest on the well-being score and have been in the top six since 2013.
Rankings around the region:
- Montana 6th
- Wyoming 8th
- Nebraska 9th
- Iowa 16th
- North Dakota 20th
- Minnesota 28th
Bankrate.com rated Arkansas, Louisiana, Maryland, New Mexico and New York the five worst states to retire in.
