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TAMPA, Fla. – Florida was ranked as the best state to retire in 2025, according to a new study by WalletHub.
Florida ranked as the best state for retirement due to low taxes for retirees, such as no estate, inheritance, or income taxes, despite it having a high cost of living compared to other states, according to WalletHub.
“Retirement is supposed to be relaxing, but it can also be incredibly stressful given that it typically puts people on a fixed income, which may not be enough for them to live comfortably,” WalletHub Analyst Chip Lupo said in a statement, noting that the best states for retirees are states with low taxes.
The second best state to retire is Minnesota, according to WalletHub, due to access to health care, nursing homes, and health care aids. The state also ranks high in protection against elder abuse.
Colorado ranked third due to the state’s lack of inheritance or estate taxes, according to the study. It also has a low poverty rate for seniors and a low isolation rate for seniors.
The best states to retire in 2025:
1. Florida
2. Minnesota
3. Colorado
4. Wyoming
5. South Dakota
6. Pennsylvania
7. New Hampshire
8. Delaware
9. North Dakota
10. Wisconsin
The worst states to retire in 2025:
1. Kentucky
2. Louisiana
3. Mississippi
4. Washington
5. New Mexico
6. New Jersey
7. Rhode Island
8. West Virginia
9. Arkansas
10. Hawaii
For the full ranking and the methodology, visit the study on WalletHub.
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