Rhode Island Named One of the Worst States for Retirement

We will all retire one day, but where is the best place to do it?

While many of us are still working the 9 to 5, it’s always a good idea to plan for the future.

WalletHub unveiled the Best and Worst States to retire, and unfortunately, Rhode Island’s score was less than desirable.

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How WalletHub Collects Its Data

To determine the best and worst states to retire, WalletHub compared each state across 46 key indicators of retirement-friendliness, from financial factors such as tax rates and the cost of living to things such as access to quality medical care and fun activities.

The company also released a retirement savings survey that looked into the attitudes of Americans regarding retirement and the money they have set aside for it.

WalletHub’s Findings

Affordability, quality of life and health care were the three dimensions that WalletHub honed in on.

With those three dimensions in mind, it turns out that Florida is the best place to retire in the United States. Coming in first for overall quality of life and fourth for affordability, the Sunshine State scored 62.19, just beating out Colorado.

Massachusetts finds itself in the top tier of states to retire, landing at No.15 out of 50. Its healthcare ranking and quality of life ranking pushed it toward the front of the pack.

Then, there’s Rhode Island.

Coming in at 47 out of 50, with a total of 45.20, Rhode Island is the fourth-worst state to retire in the entire country.

Forty-second in affordability is shocking to no one who lives in Little Rhody. There seems to be a tax for absolutely everything. However, the 42^nd ranking for quality of life was a bit surprising.

If you plan to spend your later years in Rhode Island, start saving up immediately.