When planning your golden years, there’s more to consider than just the weather. With a limited income, many retirees also have to consider the financial feasibility of a retirement destination.
Kiplinger’s, the personal finance website, recently released its annual list of the 15 worst states for retirement. Taking into consideration some of the top concerns shared by retirees, Kiplinger’s ranked all 50 states based on overall cost of living, the population of residents over 65, tax laws, health care costs and other factors.
Though the states that fared the worst were spread out throughout the nation, there were a few states which also appeared on last year’s list, including one popular place known for its weather and easy breezy lifestyle.
Check out the top five worst states below and head over to Kiplinger’s to see the full list and methodology.
This midwestern state’s cost of living isn’t far above the national average, unlike many others on the list. However, Kiplinger’s cites the state’s poor fiscal condition, according to the Mercatus Center, as a reason retirees may want to avoid Illinois.