Meanwhile, packing up and settling into another state is not possible, or desirable, for many.
“There’s a risk moving to a place you’re not familiar with, or don’t have well ensconced friends and business relationships,” Hamrick said.
Before you leave behind your current home, Hamrick recommends that people ask themselves a few questions about a new place. Do you know anyone there? Are you familiar with the community? Will you be able to find a suitable home and live in an area that’s comfortable for you?
“Make sure you won’t have a sense of remorse about what you’re leaving behind,” Hamrick said.
All of that considered, he said these rankings can be a great place for people to start planning their retirement.
“Having a conversation about the ability to achieve one’s financial goals in a variety of locations can be a very productive exercise,” he said.
Bankrate’s study picked it’s best states considering cost of living (20 percent), taxes (20 percent), health care quality (15 percent), weather (15 percent), crime (10 percent), cultural vitality (10 percent) and well-being (10 percent).