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Connecticut Ranks As The 4th Worst State To Retire

If you plan on retiring soon, you might to head to the sunny beaches of Florida according to WalletHub, a personal financial website. Connecticut came in as the fourth worst place to retire.
If you plan on retiring soon, you might to head to the sunny beaches of Florida according to WalletHub, a personal financial website. Connecticut came in as the fourth worst place to retire. Photo Credit: WalletHub.com

FAIRFIELD COUNTY, Conn. -- If you live in Connecticut and plan to retire soon, you might want to consider moving to Florida, according to WalletHub, a personal financial website.

With nearly a third of all non-retirees having no retirement savings or pensions because many simply cannot afford to do so, WalletHub conducted an in-depth analysis that identifies 2016’s Best & Worst States to Retire.

According to the website, Connecticut ranks 48th out of 51 as the best places to retire. Florida came in first, with Rhode Island coming in last.

Here are the the results for retiring in Connecticut as it rates id different categories, with 1 as the Best, 25 as the average and 51st as worst:

  • 45th – Adjusted cost of living
  • 23rd – Annual cost of in-home services
  • 47th – WalletHub ‘Taxpayer’ ranking
  • 20th – Museums per capita
  • 25th – Number of health-care facilities per capita
  • 37th – Number of golf courses per capita
  • 36th – Number of family and general physicians per 100,000 residents

In order to identify the "best" places to retire, WalletHub’s analysts compared the 50 states and the District of Columbia across three key dimensions: Affordability, quality of life and health care.

First, they compiled 24 relevant metrics, then each metric was given a value between 0 and 100, wherein 100 is the best value for that metric and 0 is the worst. They then calculated the overall score for each state and finally ranked them using the weighted average across all metrics.

For the full report, click here.

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