When the time comes to retire, no one wants to sacrifice their standard of living or quality of life to make ends meet on a fixed income. Therefore, there are several factors to consider when it comes to choosing an affordable place to retire, and it's down to much more than just cost of living. WalletHub, the personal finance website, has released its annual list of the best places to retire in the U.S. in 2016.
The site considered all 50 states plus the District of Columbia in their rankings, looking at 24 different metrics including affordability, quality of life, crime rates, recreational activities and health care. The bulk of each score came from the affordability rating.
A retiree favorite, Florida, came in at the top spot. In WalletHub's 2015 list of the best cities to retire in the U.S., Tampa, Florida was the top city. Three other cities from the Sunshine State also made it into the top 10. The southeastern state is known to be a retirement haven thanks to its warm climate, outdoor recreational activities and friendly tax laws.
Check out the top 10 states below and head over the WalletHub to see the full list and methodology. In case you're curious, Rhoda Island scored at the bottom of the list, with the lowest affordability and one of the worst retiree taxpayer rankings.
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