California, New York conspicuously absent from new ranking of best U.S. states to retire to

Equity Access Group’s latest analysis highlights the best states for retirement based on cost of living, safety, healthcare quality.Photo byAaron BurdenonUnsplash

As retirement nears, many Americans are evaluating their options to ensure a secure and enjoyable future. Equity Access Group’s latest analysis highlights the best states for retirement based on cost of living, safety, healthcare quality, and the ease of obtaining a reverse mortgage.

Best States for Retirement

Using data from NASDAQ, U.S. News & World Report, and FBI-UCR, the analysis prioritized cost of living (40%), crime rates (30%), and healthcare quality (30%). Here are the top states offering a combination of affordability, safety, and quality healthcare:

1. Iowa - Low cost of living and a safe environment.
2. Pennsylvania - Affordable with high-quality healthcare.
3. Wyoming - Reasonable living costs and safety.
4. Mississippi - Very low cost of living, though healthcare could improve.
5. South Dakota - Affordable with moderate crime rates.
6. New Hampshire - Excellent healthcare and safety, though higher living costs.
7. Florida - Warm climate and relatively low living costs, despite higher crime rates.
8. Illinois - Affordable living and good healthcare.
9. Texas - Diverse options and overall affordability.
10. Nevada - Low cost of living and ample amenities.
11. Washington - High-quality healthcare and safety, though higher living costs.
12. Tennessee - Affordable, but higher crime rates.
13. Alaska - Unique benefits and great healthcare, but higher living costs.

Top States for Reverse Mortgages

When it comes to securing a reverse mortgage, the process can vary. These states offer a more straightforward approach:

• Texas - Clear requirements due to a 1997 constitutional amendment.
• California - Added benefits for property maintenance flexibility.
• Arizona - Transparent regulations and financial counseling.
• Florida - Simplified process aligned with federal guidelines.
• Colorado - Simplified statutes easing the process.
• South Dakota - Clear and accessible laws.
• Tennessee - Relatively straightforward with clear requirements.
• New York - Comprehensive but structured approach.
• Maryland - Clear framework with state-specific regulations.

Common states in both rankings include Florida, South Dakota, Tennessee, and Texas.