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IL is one of the best states for retirement: ranking


IL is one of the best states for retirement: ranking

The personal finance website determined America’s best and worst states for retirement based on dozens of data points in five weighted categories: affordability at 40 percent, overall well-being at 25 percent, health care cost and quality at 20 percent, weather at 10 percent and crime at 5 percent.

“These categories serve as a reminder that many things go into deciding where to move in retirement, but we gave affordability the highest priority in the rankings to reflect the challenges so many Americans face with their retirement savings and the rising cost of living in the U.S.,” said Bankrate.

The prairie state ranked 16th on the list, between Virginia at 15th and Hawaii at 17th.

Delaware took first place as the best state for retirees, followed by West Virginia at number two and Georgia at number three, as well as South Carolina and Missouri. Alaska ranked the worst at number 50, New York came in at number 49 and Washington at number 48.

“In our overall rankings, the best and worst states for retirees are broken down geographically,” says Bankrate. “The Midwest and South take up the top five states, while the Northeast and West take up the bottom five states, primarily due to differences in cost of living.”

Check out Bankrate’s full rankings.

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