Retiring? South Dakota Is Best, New York Is Worst

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May 7 (Bloomberg) -- Bankrate's Chris Kahn discusses the results of the firm's poll on the best and worst places to retire. He speaks with Pimm Fox on Bloomberg Television's "Taking Stocks." (Source: Bloomberg)

So me about the cold.

How was it conducted and what are some of the startling result ? what we do is personal finance.

We wanted to ask if you could go anywhere in the country, which state would have the best chances of high-quality retirement.

We looked at things like cost of living, tax rate, health care quality.

We want a measurement of how happy people are.

Whether and the crime rate.

We matched them together and found interesting things.

I think you said the top five.

South dakota was the top state.

A lot of states in that area did very well.

South dakota, colorado utah and wyoming.

To what do you attribute this result?

It does not have florida.

Does not have texas or california or arizona.


First of all, these states actually all do kind of the same thing.

They have a pretty good health care system.

They keep the costs relatively low and tax rates relatively low.

States either have a really good health care system and you find a lot of that in the northeast and also high cost.

So i would say the states do a very good job of giving a little bit of everything.

Lex what about south dakota particularly?

Do they get something to retirees?

They are one of the lowest taxing states in the country according to data from the tax foundation.

When i talk about tax rates, i'm talking about property taxes.

They are one of the lowest there.

In addition to yes it will be cold there.

However, in exchange for that, you will get it of the lowest cost of living.

A very low crime rate.

In measure next -- measurement of happiness, south dakota ranks as top -- one of the top states in the country.

Let's say we do not want to go to south dakota, at least not yet in the plans are to stay in the empire state, where does new york, then all of this?

New york ranked dead last.

I live in brook lynn.

I may have to rethink my retirement plan as well.

Why does it come in to fee of 50 states?

I would put new york, california and hawaii on the same list.

Wonderful places to visit, opportunity, wonderful things for the residents to do, great lifestyle, if you can afford it.

The high cost of living in new york.

Highest tax in the country.

Imagine fighting -- inviting someone to retire in new york.

They will have to make serious adjustments am especially if they are on the fixed income.

Looking at how many people over the age of 65 live in florida, texas and california.

Are those big retirement states?

Yes, and they have been that way for a long time.

The whole sunbelt, a lot of retirees.

They come down for the weather.

And a lot of those states have communities within the states that are very catered to the population.

The states may not rank in the top 10 but they probably do

This text has been automatically generated. It may not be 100% accurate.


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