A new survey of the best and worst states for retirements has determined that when it comes to spending one’s golden years in New York and Connecticut, the costs may outweigh some genuine benefits.
An analysis of the 50 states and the District of Columbia by the financial website WalletHub gave New York an overall ranking of 41st place and Connecticut a 48th place listing. In subsection rankings for affordability, New York came in 46th and Connecticut 49th.
But that is not to say that the two states offer little to retirees. New York ranked first in a quality of life measurement and came in first for most museums per capita, first (in a tie with California) for most theaters per capita and third for the lowest property crime rate. Connecticut, which ranked 13th in the quality of life measurement and 15th in a measurement of the quality of health care, tied with California for third place as offering the highest life expectancy rate.
As for WalletHub’s pick for the best retirement states, Florida took first place in the overall ranking, followed in the top five placements by Wyoming, South Dakota, Iowa and Colorado.