If you have a choice, where do you want to retire? How much of where you retire will depend on how much you will have to retire on.

The cost of living will be a major factor in figuring out how much you will need to retire with. Cost of living can vary dramatically from city to city, state to state and even country to country.

The decision on where to retire takes into consideration many things like how close you are to family, the weather, your health and how much you want to spend. Should you settle by the beach or in the mountains? Do you prefer golf or cross-country skiing? Those are deeply personal questions.

To determine the best and worst states for retirement in 2021, personal finance website Bankrate ranked each U.S. state across five key areas: affordability, wellness, culture, weather and crime. The two factors weighed most heavily were affordability (40%) and wellness (20%). I think taxation should have been included in their survey!

According to Bankrate’s study, Georgia is the best state to retire, followed by Florida, Tennessee, Missouri. Arizona was the 7th best while California was only the 37th best place to live.

Below, check out the 11 worst states to retire in the U.S. this year, according to Bankrate. But keep in mind that this data is only meant to be used as a reference point for Americans looking to map out their retirement plans.

1. Washington
   

   Affordability rank: 36
   
   Wellness rank: 8
   
   Culture rank: 27

2. TIE: Idaho
   

   Affordability rank: 22
   
   Wellness rank: 39
   
   Culture rank: 30

3. TIE: Connecticut
   

   Affordability rank: 49
   
   Wellness rank: 7
   
   Culture rank: 9

4. Alabama
   

   Affordability rank: 8
   
   Wellness rank: 44
   
   Culture rank: 43

5. TIE: Arkansas
   

   Affordability rank: 19
   
   Wellness rank: 49
   
   Culture rank: 42

6. TIE: Maine
   

   Affordability rank: 40
   
   Wellness rank: 29
   
   Culture rank: 1

7. Alaska
   

   Affordability rank: 25
   
   Wellness rank: 23
   
   Culture rank: 20

8. Montana
   

   Affordability rank: 33
   
   Wellness rank: 33
   
   Culture rank: 3

9. Kansas
   

   Affordability rank: 24
   
   Wellness rank: 26
   
   Culture rank: 38

10. Minnesota
    

    Affordability rank: 39
    
    Wellness rank: 15
    
    Culture rank: 34

11. Maryland
    

    Affordability rank: 47
    
    Wellness rank: 4
    
    Culture rank: 39

In order to rank each state, Bankrate gathered data from a number of sources. Here are the sources it used for each metric, as well as how heavily each factor was weighed.

Affordability (40%): Council for Community and Economic Research and the Tax Foundation

Wellness (20%): Sharecare Community Well-Being Index
Culture (15%): U.S. Census Bureau
Weather (15%): National Oceanic Atmospheric Administration
Crime (10%): FBI’s 2019 Crime in the United States report

For you internationally minded listeners, Costa Rica, Panama, Mexico, Colombia, and Portugal are 2021's top five countries for retirees. Things to consider for wanting to retire outside of the US:

Ease of buying and owning property and the value of property investments

Cost of renting
Benefits and discounts on things such as healthcare and entertainment
Visa and residency requirements
Cost of living
Fitting in and how easy it is to make friends
Entertainment and amenities
Healthy living
Development and infrastructure
Climate
Stability of the country’s political situation

Where you finish in a race is one of the most important factors of why we race. Where you finish living during your retirement will also be one of those factors that should bring you joy and fulfilment. Prepare wisely to finish strong!