That's according to the latest World Happiness Report, which takes a deep-dive into the joyfulness of each stage of a person's life. The report revealed older adults are happiest in Denmark, Finland, Norway, Sweden and Iceland, in that order.
Florida, Colorado, and Virginia rank as the top three states for retiring seniors, according to WalletHub.1 In a recent study, they compared all states based on 46 indicators in three key categories: Affordability, which includes tax benefits, cost of living, and more.
Barnstable, MA is the happiest city to retire to, ranking #1 of all 200 cities we analyzed. It has the highest ranking overall for community well-being, and one of the highest percentages of residents who are 65-plus. The other cities at the top of the list: Naples, FL at #2, and Ann Arbor, MI at #3.
Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, and Wyoming are the top tax-friendly states for retirees. All of them have no personal income taxes. 1 Other taxes, cost of living, and overall quality of life are also important considerations.
The best state to live in for seniors is Utah, which offers a combination of low assisted living costs, high-quality healthcare, and a strong overall quality of life. Utah has earned the title of the healthiest state for older adults, reflecting its supportive services and solid health outcomes.
In 2024, across all states in the United States, Utah was ranked as the healthiest state for older adults aged 65 years and above, followed by Colorado and Vermont. On the other hand, Louisiana was the unhealthiest state for older adults in the United States, ranking last on the list.
Key Takeaways
According to the Milken Institute's Center for the Future of Aging, the best cities for successful aging are clustered in Utah and Iowa, among other places. Other stand-out cities for retirees include Madison, Wisconsin, and Durham-Chapel Hill, North Carolina.
It's no secret why Florida continues to be one of the best states to retire in 2024. With a warm and sunny climate, retirees enjoy Florida's beautiful beaches and outdoor activities year-round. From the Gulf Coast to the Atlantic, Florida offers endless opportunities for leisure.
By Total: California has the highest number of seniors in the U.S. with a total of 5,148,448 residents ages 65 and older.
Retirees who took steps to set themselves up financially and take care of their health at least five years prior to retirement are more likely to report being much happier in retirement.
For more than 20 years researchers have been studying happiness as a “curve” and they've found that in your 40s you're at your lowest! And frustratingly, you might feel this way for no “real reason.”
Thailand. Is it possible to retire in Thailand and keep the costs in check? Certainly! It's another top choice for digital nomads with an achievable $500 monthly budget, focusing on affordable accommodation.
Key takeaways
Delaware (1), West Virginia (2), Georgia (3), South Carolina (4) and Missouri (5) are the top five states for retirement in 2024. Alaska (50), New York (49), Washington (48), California (47), and North Dakota (46) landed at the bottom of the rankings for the best and worst states to retire.
The top state for retirement is Delaware, according to Bankrate's 2024 Best States to Retire study.
Our previous study highlighted some of the best states to live on Social Security, with the top five being Mississippi, Wyoming, West Virginia, Iowa, and Georgia. Retirees can start by choosing places within these states to stretch their retirement incomes a bit further.
Florida is the safest state overall for retirees, followed by Wyoming. Florida, Hawaii, and Louisiana are the warmest states to retire to if you don't mind some humidity. Arizona is a good alternative if you prefer dry heat.