Worst States Retire 2012

Posted on by Emily in General

Worst States Retire 2012 – The verdict is in on which states are the best and worst to retire in for 2012. According to TopRetirement.com the ten worst states for retirement are the following:

#1 Connecticut

#2 Illinois

#3 Rhode Island

#4 Vermont

#5 Massachusetts

#6 New Jersey

#7 Minnesota

#8 New York

#9 Maine

#10 Wisconsin

I can understand why Vermont is on this list– it’s expensive and freezing cold for 8 months out of the year. Not particularly ideal for anyone, especially elderly people.

Worst States Retire 2012

According to the website, the following were considered to determine whether or not a state was good for retirement: Fiscal Health, Property Taxes, State Income Taxes, Cost of Living, Climate.

They also included the following to be factors:

- Proximity to friends and family
- Sales taxes (Not usually a deal breaker, but annoying)
- Inheritance and Estate taxes (Some states have neither, a few have both)
- Crime
- Recreation
- Transportation
- Healthcare
- Education including colleges
- Cultural resources
- Natural disasters
- Fitting in socially, politically, religiously

According to US News, the following states don’t have pension or social security taxes and are considered some of the best states to retire in 2012: Alabama, Florida, Mississippi , Nevada, Pennsylvania , South Dakota, Tennessee.

I personally am keen on the idea of retiring abroad and stretching my dollar.

It may seem like a far fetched fantasy, but it’s easy to do and often times more affordable than staying in your home. Studies have shown that retirees need on average 70% of their annual income previous to retiring each year while retired. That’s a lot of money. Rather than suffer through the inflated prices of the economic depression during your golden years, why not go where the dollar is stronger?

Below is a list of some of the Best Places to Retire Abroad in 2011:

Panama City, Panama - With it’s warm climate, affordable prices, great social health care system and generous discounts to seniors, it’s a great cosmopolitan place to lay down new roots. The only setbacks to consider is the heat in the summer and the fact that you might have to pick up some Spanish.

Ajijic Mexico - With a large ex-patriot community already established you won’t feel too far from home, but still get the experience of living abroad. The cost of living is more affordable than in the states and you’ll enjoy nicer weather as well!

Chiang Mai, Thailand - The Bohemian center of this beautiful country is also very affordable. In Thailand not only will you get great landscape, ancient culture, and delicious food but you can also live comfortably for about $700 a month. This includes renting a furnished apartment, food and transportation. Building your own home averages at about $24,000.

Calitri, Italy - The best part of Calitri is that it’s an affordable city within one of the most beautiful, exciting countries on earth. Have you always wanted to explore the culinary and historical marvels of Italy? Now that you’re retired, consider setting up your home base in a beautiful Italian city where decent apartment prices start at $15,000 USD. Houses start at $42,000. Move to Italy, drink your wine, eat good food and expect a lot of visitors from back home!