So you want to retire to another state?
Sorry, snowbirds! Florida is no longer one of the most preferred states for retirees. That’s at least according to a new survey by Bankrate, which ranked states on a variety of different criteria, including cost of living, crime, taxes and the quality of healthcare services.
The top 10 list they came up with is long on scenic mountain states and included only one traditional “Sun Belt” choice and one on the East Coast. They are: Wyoming, South Dakota, Colorado, Utah, Virginia, Montana, Idaho, Iowa, Arizona and Nebraska.
The bottom 10 list includes some pretty popular states, at least with visitors, such as New York (my home state!), Louisiana (where I grew up), Alaska and Hawaii.
But there are lots of ways to decide where to live in retirement and some of them may be more valuable than others. I’m assuming that you’re interested in making your money last, but also in being healthy and happy.
Factor in crime and weather
Consider crime, for example. It may be natural to be fearful of street crime as you get older. But a 10-year study by the U.S. Justice Department found that elderly people are actually less likely to be victims of violent or property crimes.
What older people really have to fear are financial scams targeted at them, which can strike no matter where you live, considering that criminals increasingly reach their victims via phone or the Internet.
Another consideration is the weather. The truth is, different people prefer different kinds of weather. But there is some evidence that warmer weather improves subjective mood, and that death rates are lower in warmer weather too.
It’s also worth considering the risk of extreme weather events in your area. Hurricanes, floods, tornadoes and earthquakes all necessitate different kinds of preparation and bring different amounts of stress to your life.
Taxes and cost of living may seem like pretty straightforward indicators of potential happiness. It makes sense to move to where you can buy and pay for a house or pay for care. But some places have a low cost of living because they’re economically depressed. Low taxes may come along with poor social services.
And speaking of social services, healthcare is a big one. Health statistics of a given state are affected by average income and other demographic factors, but also by the service infrastructure.
Hawaii is pricey, sure, but all those palm trees and pineapples add up to super longevity — an average life expectancy of 81 years, the highest in the nation — and high rankings on health. The state also ranks highly on support services and healthcare access for seniors, according to the nonprofit United Health Foundation.
Life expectancy in Mississippi, on the other hand, is the lowest in the nation, just 75 years, which adds sobering perspective to its low cost of living.
Social ties are important
You have to look through all the evidence and make your own best decision. But Bankrate’s criteria for choosing its top 10 list did not include the most important factor for a happy, healthy retirement: social ties.
The state where you have the most family and friends should be among your top picks for retirement. “Social capital” — literally, wealth in friendship — is a chief indicator of health, happiness and longevity. In one meta-analysis of studies covering more than 300,000 participants, those who were rich in social ties got an incredible 50 percent boost in longevity. That’s more than getting to a healthy weight or beginning an exercise program can do for you, and about on par with quitting smoking.
Just being partnered didn’t have the same impact as having a variety of people you could call on in hard times — and who can call on you. So before you up stakes and move to, say, Hawaii, see if your best friends and family want to come along too.
© 2016 Anya Kamenetz. Distributed by Tribune Content Agency, LLC.