A new Bankrate study claims that the worst place in the United States to retire is Maryland:
It’s not surprising whatsoever that Maryland has been ranked the worst state for retirement, according to a new Bankrate study. The state has a whole list of problems, mainly due to it’s out of control taxation by local governments, the implosion of Baltimore City, unaffordable housing, and the high cost of living.
Bankrate analyst examined eleven public and private datasets related to the life of a retiree. The study concentrated on five categories (weightings in parentheses): affordability (40%), crime (5%), culture (15%), weather (15%) and wellness (25%). It determined that Maryland ranked last at no.50, it ranked no. 47 for affordability, no. 33 for crime, no. 42 for culture, no. 18 for the weather, and no. 37 for wellness.
Baby boomers are searching for retirement areas that are close to family and friends, have an affordable cost of living, low taxes, top tier health care and hospital systems, good weather and a low crime rate. Something that Maryland misses on in several categories.
According to the study, the top five are Nebraska, Iowa, Missouri, South Dakota, and Florida. The bottom five are Washington state, Illinois, Alaska, New York, and Maryland.