file photo by Boyd Loving
2016’s Best and Worst States to Retire
by Richie Bernardo
Retirement might be the end of the line, but it doesn’t have to be the end of financial security or life satisfaction. For many of us, our primary concern with retirement is timing, which often coincides with the age at which we become eligible to receive Social Security or pension benefits. Hopefully the choice will be ours and not dictated by our circumstances — the unfortunate case for nearly a third of nonretirees who haven’t put away a single penny for retirement, though not necessarily through any fault of their own.
But in addition to when you want to retire, you might want to ask yourself where. That can be an awfully difficult question to answer if you haven’t adequately planned — or been able to plan — for the rest of your life. Even in the most affordable areas of the U.S., retirees often cannot rely on their Social Security or pension checks alone to cover all of their living expenses. Social Security benefitsincrease progressively with local inflation, but they replace only about 40 percent of the amount you earned if you were an average worker, according to the Center on Budget and Policy Priorities.
https://wallethub.com/edu/best-and-worst-states-to-retire/18592/
