What is the #1 retirement state? (2023)

What is the cheapest and safest state to retire in?

These are the 10 best places to retire in the U.S.—and Pennsylvania dominates the list. Lancaster, Pa., was the top-ranked place to retire, according to a new ranking.

For those of us who want to retire in the U.S., there are nine states that have no state income taxes: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.

Kiplinger created a list using the following factors used to determine the ranking of all 50 states: cost of living, average retirement income, health care costs, poverty rates, retirement taxes, and economic well-being. Based on these factors, South Dakota, Hawaii, and Georgia are the best states for retirement.

More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. — Florida. In fact, one third of the 15 U.S. cities on this list are in Florida.

Iowa. Iowa ranks as the most affordable overall state for those living on a Social Security check, with low rent as one of the prime contributors.

What is the #1 best state to live in?

The personal finance website has come up with a ranked list of the top 20 best states to live in for 2022. Here are the results! The top state is Massachusetts, which ranked first in the nation for education and health, fourth for safety, sixth for quality of life, and 10th for its economy.

States That Don't Tax Retirement Income

Those eight – Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming – don't tax wages, salaries, dividends, interest or any sort of income.

Washington

Washington is one of the states with the lowest taxes for retirees because it has no state income tax or a tax on Social Security. Plus, the property tax rate is lower than in half of the states. However, it's state sales tax is among the highest on the list.

Ecuador. If you're looking for a country where you can retire outside the US comfortably with $800 per month and experience one of the most ecologically diverse places in the world, then Ecuador might be for you. The go-to city for US retirees in Ecuador is Cuenca, which also happens to be a UNESCO World Heritage site.

Alaska is an income-tax and sales-tax-free state, making it one of the best places to retire on a fixed income.

As of August 2022, Mississippi is the least expensive state to live in, according to worldpopulationreview.com. The Magnolia State has a cost of living index of 83.3.

Vermont was named the safest state in the U.S. for the second year in a row. Maine, New Hampshire and Utah were also the runners-up in back-to-back years.

Where can I live for $1000 a month in the US?

Panama offers a dry, warm climate year round and a very low cost of living–with beach views. You can retire comfortably on $1,300 per month, and it's one of the best countries for quality of life. What's more, English is widely spoken, and you can use your US money anywhere across the country.

1. California

You can't beat the south and central California coast for pleasant temperatures year round. Long Beach, Los Angeles, San Diego, Santa Barbara and Santa Maria all have average daily highs no lower than the mid-60s for any month of the year. Nor does it get really hot.

Alaska, Maine, California, New Mexico and Montana are the five worst states to retire, according to Bankrate, which said they have either a high cost of living, higher relative crime rates or unfavorable weather for older Americans.