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 StateTotal Score Affordability Quality of Life Health Care 
1Virginia57.55161111
2Florida57.439428
3Colorado57.4114275
4Wyoming55.605938
5Delaware55.4963318
6New Hampshire55.003157
7South Dakota53.6125309
8Minnesota53.504021
9Idaho53.20151731
10North Dakota53.03222520
11Utah52.73202426
12North Carolina52.60122335
13Missouri52.37172832
14Pennsylvania52.2736312
15Montana52.07241529
16South Carolina52.0643839
17Massachusetts51.884712
18California51.64321910
19Alaska51.2726368
20Arizona51.07183525
21Wisconsin50.90341417
22Alabama50.6514450
23Ohio49.8127837
24Hawaii49.7338294
25Nebraska49.30371615
26Iowa48.92351224
27Georgia48.5874042
28Michigan48.03291836
29Maine47.5043613
30New Mexico47.47214630
31Indiana47.32233140
32Nevada47.23114241
33Tennessee47.1624845
34Vermont47.124876
35Connecticut47.1144263
36Kansas46.76303233
37West Virginia46.4434349
38Oregon46.10412121
39Texas45.90283734
40Rhode Island44.95393914
41Arkansas44.7384944
42Maryland44.55462019
43Washington44.46451323
44Illinois44.30422227
45Louisiana43.90134547
46New York43.69501016
47Oklahoma43.61194743
48Mississippi40.80105048
49New Jersey40.23493422
50Kentucky38.80334146
Source: WalletHub