Study: New York ranks in bottom 5 states to retire

ALBANY, N.Y. (NEWS10) — According to WalletHub, whose recent study—”2023’s Best States to Retire”—tracked the financial burdens of the current economy, many are retiring later than expected. Therefore, instead of asking when to throw in the towel, the study questioned where the best place is to do so.

The study compared the 50 states across 47 key indicators of retirement-friendliness, including affordability, health-related factors, and overall quality of life. New York ranked in the bottom five.

The state came in dead last for affordability, thanks in part to the adjusted cost of living and the annual cost of in-home services. High taxes also played a part in the bottom-tier ranking, the study found.

Nearby Massachusetts made the top 20, however. The state came in first for WalletHub’s quality of life ranking, and its healthcare system outpaced most of the U.S.

The top five states to retire in, researchers said, are Virginia, Florida, Colorado, Wyoming, and Delaware. A full list of rankings can be seen below.

Best and worst states to retire in 2023:

Overall Rank	State	Total Score	Affordability	Quality of Life	Health Care
1	Virginia	57.55	16	11	11
2	Florida	57.43	9	4	28
3	Colorado	57.41	14	27	5
4	Wyoming	55.60	5	9	38
5	Delaware	55.49	6	33	18
6	New Hampshire	55.00	31	5	7
7	South Dakota	53.61	25	30	9
8	Minnesota	53.50	40	2	1
9	Idaho	53.20	15	17	31
10	North Dakota	53.03	22	25	20
11	Utah	52.73	20	24	26
12	North Carolina	52.60	12	23	35
13	Missouri	52.37	17	28	32
14	Pennsylvania	52.27	36	3	12
15	Montana	52.07	24	15	29
16	South Carolina	52.06	4	38	39
17	Massachusetts	51.88	47	1	2
18	California	51.64	32	19	10
19	Alaska	51.27	26	36	8
20	Arizona	51.07	18	35	25
21	Wisconsin	50.90	34	14	17
22	Alabama	50.65	1	44	50
23	Ohio	49.81	27	8	37
24	Hawaii	49.73	38	29	4
25	Nebraska	49.30	37	16	15
26	Iowa	48.92	35	12	24
27	Georgia	48.58	7	40	42
28	Michigan	48.03	29	18	36
29	Maine	47.50	43	6	13
30	New Mexico	47.47	21	46	30
31	Indiana	47.32	23	31	40
32	Nevada	47.23	11	42	41
33	Tennessee	47.16	2	48	45
34	Vermont	47.12	48	7	6
35	Connecticut	47.11	44	26	3
36	Kansas	46.76	30	32	33
37	West Virginia	46.44	3	43	49
38	Oregon	46.10	41	21	21
39	Texas	45.90	28	37	34
40	Rhode Island	44.95	39	39	14
41	Arkansas	44.73	8	49	44
42	Maryland	44.55	46	20	19
43	Washington	44.46	45	13	23
44	Illinois	44.30	42	22	27
45	Louisiana	43.90	13	45	47
46	New York	43.69	50	10	16
47	Oklahoma	43.61	19	47	43
48	Mississippi	40.80	10	50	48
49	New Jersey	40.23	49	34	22
50	Kentucky	38.80	33	41	46