Latest news with #StephenKates
Daily Mail
5 days ago
- Business
- Daily Mail
New England tops list of best places to retire in the US
By New England has emerged as the best region to spend your twilight years with four of its states ranked among the top ten places to retire. Taking the crown for the best state to put down roots in retirement has been awarded to often overlooked New Hampshire . The state, known for its luscious green wilderness and quaint towns , is also a great bet for those looking to retire due to its low taxes, excellent healthcare and safe neighborhoods. The state triumphed in an analysis run by Bankrate which analyzed factors including a state's affordability, weather, safety, healthcare, taxes and how many people there would be of a similar age. New Hampshire ranked as the best of all fifty states for neighborhood safety, fifth for healthcare and sixth for taxes. It was joined by its New England neighbors Maine, Rhode Island and Vermont in the top ten. Three western states also scored highly and made the top ten, Idaho, Utah and Wyoming. 'Surprising to many, including me, is that there are four states from New England in the top 10,' Bankrate analyst Stephen Kates said of the survey's findings. 'Health care, both access and cost, as well as safety, recreation, and walkability play a major role in our rankings, and these states excel in these categories.' Intriguingly states that have often been viewed as retirement hotspots scored below the bottom of the table. Florida was ranked 41st, and was joined by seven other sun belt states in the bottom ten. 'Unlike more common retirement rankings by state, Florida didn't land very high on our list,' Kates explained. 'Coming in at number 41, Florida ranks strongly on taxes and abundance of other retirees. 'However, it ranks poorly for health care, home insurance costs and natural disasters , which create significant cost disadvantages for retirees.' Louisiana earned the unenviable bottom place, scoring poorly in every category. The sunny southern state even ranked 39th in the weather category due to the number of tornadoes and hurricanes it experiences. Texas also scored badly, following Louisiana in 49th overall place. The Lone Star state scored last for healthcare and second last in having people of a similar age. Kates urged retirees and those looking to retire in the coming years to take note of the new rankings that go beyond the traditional draws such as a sunny, warm climate and low taxes.
CNBC
5 days ago
- Business
- CNBC
The 10 worst U.S. states to retire—6 are in the South
There are a number of factors to take into consideration when choosing where you want to retire, including the lifestyle you want and your financial situation. In addition to looking for options that meet most of your needs, you'll want to consider any major downsides or trade-offs you'd have to make, such as a lack of accessible health care or a high cost of living. Financial services website Bankrate recently ranked all 50 states based on 15 metrics, including affordability, health care and weather, to determine the best and worst places to retire in the U.S. The study used data from a variety of sources, including the Council for Community and Economic Research, the National Oceanic and Atmospheric Administration and the U.S. Department of Health and Human Services. The metrics were weighed according to survey responses gathered by Bankrate in May 2025 on what Americans say are their top priorities for choosing a retirement destination. As a result, affordability, weather and neighborhood safety influenced overall scores the most. Here are the 10 worst states to retire, according to Bankrate, where you may have to compromise when it comes to cost, safety and access to health care: Weather also played a significant role in landing several of these states at the bottom of the overall rankings. Louisiana ranked No. 39 for weather and Texas came in at No. 47 in that category. "Natural disasters really degraded the scores of almost every state across the Gulf. Texas, Florida — even states that you really think about as primary retirement destinations," Stephen Kates, a certified financial planner and Bankrate financial analyst, tells CNBC Make It. "They didn't do as well in the weather category because of their propensity to have hurricanes and other natural disasters." It can be helpful to consider these rankings and the metrics used to determine them, but ultimately, the best place for you to retire will depend on your personal preferences. Retiring in Louisiana or Oklahoma may look challenging based on these metrics, for example, but if that's where your family lives and you want to be close to them, it may be worth planning ahead and figuring out how to live well there, despite potential drawbacks. If living in a tax-friendly state is important to you, Wyoming may be your best fit, Kates says. The state came in at No. 3 overall and No. 1 for tax-friendliness. But you'd be giving up other potential amenities. "You pay very little state taxes, but you have little access to some of the other things that you may want," he says. "Wyoming is not great for arts and entertainment — it's a big, more rural place." Conditions can also vary greatly within a given state when it comes to metrics like neighborhood safety. State-level data can be a good place to start, but you may need to dig deeper or visit in person to determine if an area is right for you, especially if you're considering a big state like California or Texas, Kates says. "Where you live in California or Texas or Florida, or any state, is going to matter because we're aggregating a lot of data," he says. "If you live in Los Angeles, it's going to be very different than if you live in Sacramento or La Jolla; if you live in Dallas, very different [than] Houston." You may choose not to relocate in retirement, or prefer to wait until later on to make a move. As people live longer than they used to and thus may be retired longer, it's wise to think about your retirement in phases, Kates says. "It's a lot more than just putting a pin on the map and saying, 'This is the place,'" he says. "If you're going to live in retirement for 25 or 30 years, there's going to be phases of that. And how you figure that out is extremely relevant." If you want to dedicate time to traveling in your early retirement years, it may not make sense to also try to move your home base during that period. But a decade or so later, you may be more interested in settling down somewhere new. Kates calls these the "go, low-go and no-go" phases of retirement, alluding to idea that as you get older, you'll likely want or need to slow down.
Daily Mail
5 days ago
- Business
- Daily Mail
Surprise state tops list of best places to retire in the US
New England has emerged as the best region to spend your twilight years with four of its states ranked among the top ten places to retire. Taking the crown for the best state to put down roots in retirement has been awarded to often overlooked New Hampshire. The state, known for its luscious green wilderness and quaint towns, is also a great bet for those looking to retire due to its low taxes, excellent healthcare and safe neighborhoods. The state triumphed in an analysis run by Bankrate which analyzed factors including a state's affordability, weather, safety, healthcare, taxes and how many people there would be of a similar age. New Hampshire ranked as the best of all fifty states for neighborhood safety, fifth for healthcare and sixth for taxes. It was joined by its New England neighbors Maine, Rhode Island and Vermont in the top ten. Three western states also scored highly and made the top ten, Idaho, Utah and Wyoming. 'Surprising to many, including me, is that there are four states from New England in the top 10,' Bankrate analyst Stephen Kates said of the survey's findings. 'Health care, both access and cost, as well as safety, recreation, and walkability play a major role in our rankings, and these states excel in these categories.' Intriguingly states that have often been viewed as retirement hotspots scored below the bottom of the table. Florida was ranked 41st, and was joined by seven other sun belt states in the bottom ten. 'Unlike more common retirement rankings by state, Florida didn't land very high on our list,' Kates explained 'Coming in at number 41, Florida ranks strongly on taxes and abundance of other retirees. 'However, it ranks poorly for health care, home insurance costs and natural disasters, which create significant cost disadvantages for retirees.' Louisiana earned the unenviable bottom place, scoring poorly in every category. The sunny southern state even ranked 39th in the weather category due to the number of tornadoes and hurricanes it experiences. New Hampshire has some of the most celebrated beaches on the East Coast Bankrate analyst Stephen Kates said it was surprising how well New England states scored Texas also scored badly, following Louisiana in 49th overall place. The Lone Star state scored last for healthcare and second last in having people of a similar age. Kates urged retirees and those looking to retire in the coming years to take note of the new rankings that go beyond the traditional draws such as a sunny, warm climate and low taxes. He believes that factors such as access to recreational activities and public safety can actually have a greater bearing on a retirees quality of life.
Business Insider
24-07-2025
- Business
- Business Insider
The 10 best states for retirees aren't what you'd expect
But while conventional wisdom might suggest heading to retiree-heavy communities in warm-weather states like Florida and Texas, a study from Bankrate suggests some less sunny states offer retirees a sunnier future. Bankrate broke down the best states for retirees based on categories like affordability, weather, and healthcare. By their calculation, Florida is nowhere near the top 10 — and neither are many Southern states known for their warmer weather and plentiful retirement communities. It's important to note that each of the categories were weighted differently. But while weather has the second-highest influence in rankings behind affordability, Florida actually ranks low for weather, and its positive tax ranking wasn't enough to pull it up from the bottom. Affordability is the most-weighted category by far, while weather, neighborhood safety, and healthcare are closely weighted together as second-, third-, and fourth-most important. Bankrate financial analyst Stephen Kates explained that natural disasters and rising home-insurance costs played a large role in Florida's exclusion from the top 10. "All states along the Gulf have propensity to get hurricanes, which pushed those states far down the rankings," Kates told Business Insider. " Florida's high home-insurance costs are very, very relevant for retirees who may not have a mortgage, but that's a really high fixed cost for them," he added. Florida and other seemingly retirement-friendly states like Arizona and Texas all ended up in the bottom half of the list. Meanwhile, nearly half of the states in the top 10 are located in the Northeast, and all of them are north of the Sun Belt. Bankrate's estimates found that Northeastern states are generally safer and have better healthcare than Southern states. "When you think of retirement states, we all think of warmer weather states," Kates said. "But when you think about it, Massachusetts has unbelievable healthcare — so does Vermont, and Maine does as well. In terms of age, it's an older population certainly up there. Those are things that really boosted them." Kates noted that states like Florida and Arizona have more infrastructure in place to welcome retirees, so an exodus of Boomers is unlikely. And while affordability is still the name of the game, other factors have become more important. "The heart of this study is people should consider all of these things," Kates said. "They should know enough about what state they're going to go to. That these are factors that they're understanding and including in their own assessment." Here are the 10 best U.S. states for retirees, according to Bankrate. Median home-sale prices are from 10. Virginia Total score: 69.72 6. Rhode Island Rhode Island had the fourth-lowest violent crimes per capita, contributing to its health-and-safety ranking of sixth out of the 50 states. It ranked fifth for affordability, 19th for education and childcare and socioeconomics, and 27th for family fun. 3. Wyoming Casper, Wyoming, is safer than most cities, with giving the city a B-, meaning the crime rate is slightly lower than the average US city.
Business Insider
24-07-2025
- Business
- Business Insider
The 10 best states for retirees aren't what you'd expect
A Bankrate study ranked the top states to retire to in the U.S., and the South was nowhere to be found. Affordability, weather, and healthcare were key factors in Bankrate's rankings. The Northeast was strongly represented in the top 10. In order to enjoy your retirement, it's important to know where you can live your best life. But while conventional wisdom might suggest heading to retiree-heavy communities in warm-weather states like Florida and Texas, a study from Bankrate suggests some less sunny states offer retirees a sunnier future. Bankrate broke down the best states for retirees based on categories like affordability, weather, and healthcare. By their calculation, Florida is nowhere near the top 10 — and neither are many Southern states known for their warmer weather and plentiful retirement communities. It's important to note that each of the categories were weighted differently. But while weather has the second-highest influence in rankings behind affordability, Florida actually ranks low for weather, and its positive tax ranking wasn't enough to pull it up from the bottom. Affordability is the most-weighted category by far, while weather, neighborhood safety, and healthcare are closely weighted together as second-, third-, and fourth-most important. Bankrate financial analyst Stephen Kates explained that natural disasters and rising home-insurance costs played a large role in Florida's exclusion from the top 10. "All states along the Gulf have propensity to get hurricanes, which pushed those states far down the rankings," Kates told Business Insider. " Florida's high home-insurance costs are very, very relevant for retirees who may not have a mortgage, but that's a really high fixed cost for them," he added. Florida and other seemingly retirement-friendly states like Arizona and Texas all ended up in the bottom half of the list. Meanwhile, nearly half of the states in the top 10 are located in the Northeast, and all of them are north of the Sun Belt. Bankrate's estimates found that Northeastern states are generally safer and have better healthcare than Southern states. "When you think of retirement states, we all think of warmer weather states," Kates said. "But when you think about it, Massachusetts has unbelievable healthcare — so does Vermont, and Maine does as well. In terms of age, it's an older population certainly up there. Those are things that really boosted them." Kates noted that states like Florida and Arizona have more infrastructure in place to welcome retirees, so an exodus of Boomers is unlikely. And while affordability is still the name of the game, other factors have become more important. "The heart of this study is people should consider all of these things," Kates said. "They should know enough about what state they're going to go to. That these are factors that they're understanding and including in their own assessment." Here are the 10 best U.S. states for retirees, according to Bankrate. Median home-sale prices are from
