When we attain retirement age, a lot of us plan to relocate to that dream state we always imagined ourselves growing old in. Some of us leave for better healthcare, lower costs of living, and friendlier tax laws, and others move for favorable weather and family. We ranked the 50 states in the U.S. from the most expensive to the least expensive to live in, with data on tax breaks, yearly income, and healthcare costs. These were gotten from Kiplinger, National Association of Realtors, Bureau of Labor Statistics, Milken Institute and more.
Cost of living: 87% above the average in U.S. Population: 1.4 million. Best city: Maunawili. HIGHLIGHTS: The best town for retirees in this tropical state is Maunawili on the island of Oʻahu, says Niche.com. It is home to popular hiking spots and close to the state capital, Honolulu. Generally, Hawaii is full of nature and water sports.
CHALLENGES: The cost of living is very high in Hawaii — 87% above average. That is even greater than the other sunshine state, California. The average earnings for 65 plus individuals is over $71K, according to Kiplinger. Few of its residents meet U.S. poverty guidelines.