A new study finds Idaho is the No. 10 worst state for people planning to retire early, after analyzing a multitude of financial, health-related and lifestyle factors.
In 2019, one study showed four in 10 people retired sooner than they’d planned, often for health reasons. Whether by choice or necessity, picking the best place to hunker down for the long haul is critical.
TheSeniorList.com recently released a study on the Best and Worst States to Retire Early using the most recent data from the U.S. Census Bureau, the Centers for Medicare and Medicaid Services, the Kaiser Family Foundation, the Journal of the American Medical Association, among others.
The study analyzed life expectancy, income, housing costs, income tax rates, insurance premiums, consumer spending and average temperatures to determine the state rankings.
Here are key findings in Idaho:
• Median household income: $55,583
• Average health insurance premium: Unavailable
• Median monthly housing cost: $904
• Average temperature: 44.5 (No. 10 lowest in the country)
• Median life expectancy from birth: 79.1
Here are key national findings:
• Five best states to retire early: Texas, South Dakota, Florida, Nevada, Wyoming.
• Five worst states to retire early: West Virginia, D.C., Minnesota, Connecticut, Missouri.
• Insurance premiums are highest in DC ($447) and lowest in Mississippi ($76.08).