Montana Is Among The Best States To Retire

Many individuals have concerns about the potential end of financial security in retirement, with some even fearing they may never experience retirement. These apprehensions are not unfounded, especially considering that 28% of non-retired adults have not set aside any funds for their post-work years. Social Security benefits only replace approximately 37% of the average worker's earnings.

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Where To Retire

Choosing the right location for retirement can significantly impact the longevity of one's financial resources. WalletHub undertook a comprehensive analysis of the 50 states, evaluating 46 key indicators of retirement-friendliness. The assessment encompassed financial aspects such as tax rates and cost of living, as well as factors like access to quality medical care and engaging activities.

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How The Best States Were Determined

WalletHub focused on three crucial dimensions to pinpoint the most retirement-friendly states: Affordability, Quality of Life, and Health Care. These dimensions were assessed using 46 relevant metrics, each assigned a weight. The metrics listed below, with their corresponding weights, were graded on a 100-point scale, where 100 represented the most favorable conditions for retirement.

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The overall score for each state was calculated by determining the weighted average across all metrics. These scores were then utilized to rank-order the states, providing valuable insights into the most retirement-friendly destinations.

Retirement Findings

It turns out Montana ranks pretty well compared to other states in the US; we came in at number 9!