STAY AWAY: Five States Retirees Should Avoid According to Personal Finance Experts

When it comes to deciding where to live during retirement, it’s not surprising that three states in the southeast took the top spots. An article by Bloomberg pointed out the best and worse places for retirees to spend their golden years, and some of these states might shock you. The ranking was compiled by Bankrate, which took things like affordability and the weather into consideration. Topping the list were first place Georgia, followed by Florida, Tennessee, Missouri, and Massachusetts, while the bottom five states were mostly in cooler climated with Alaska, Montana, Kansas, and Minnesota and Maryland coming in last.

When it comes to retirement, most seniors are living off of a fixed income – often limited to meager Social Security benefits. Because so many older Americans struggle financially, a state’s cost-of-living and taxes weighed highly in Bankrate’s ranking rubric. Seniors would have more choice in where to retire if money was less of an issue. The Seniors Trust has been working diligently to convince lawmakers that the time has come to enact the Social Security Expansion Act. This landmark piece of legislation will provide larger monthly benefit checks (about $65 more a month) and strengthen the long-term solvency of the Social Security program ensuring it is around for all retirees – today and tomorrow.