Thinking about retiring? New study ranks WA among the five worst states for retirement

A recent Wallethub study has placed Washington state among the least favorable states for retirement, ranking it 47th out of 50. The evaluation considered 46 metrics related to retirement-friendliness, including financial factors like taxes, healthcare access, and living costs. Analyst Chip Lupo noted that the high cost of living and unfavorable economic conditions make it difficult for retirees to maintain a comfortable lifestyle. Washington's affordability issues are highlighted by its rankings of 45th in adjusted cost of living and 48th in the annual cost of in-home services. Additionally, the state is ranked poorly for healthcare affordability, placing 47th in adult day health care services.

In contrast, the best states for retirement include Florida, Minnesota, Colorado, Wyoming, and South Dakota, which offer lower taxes and living expenses. While Washington boasts a strong quality of life with excellent public transportation and volunteer opportunities, these advantages are overshadowed by its high costs. The study underscores the need for retirees to consider financial implications when choosing a retirement destination, particularly in Washington.