Financial Website Says 48 States Are Better to Retire in Than Maine
Editor's note: This article was written by a Townsquare Media Northern New England contributor and may contain the individual's views, opinions or personal experiences.
Retire in Maine?
If you are thinking about retiring in Maine, you may want to think again...at least according to personal finance website.
Bankrate.com, an online consumer financial services company, released its annual list of best and worst state to retire. Coming in at a lowly 49th ranking is our wonderful state of Maine. The ranking means that Alaska (ranked 50th) is the only state listed a worse place to retire.
Bankrate's methodology looks at different categories that all have varying weights of importance. These include
Affordability (40% weight)
Culture and diversity (15%)
Maine's scores in these departments are all over the place.
Maine's Retirement Scores
The good news is Maine scores very well in crime. The state is ranked 2nd, only behind its neighbor, New Hampshire. Maine also scores well in culture and diversity, with a placement of 4th.
However, the rest of the list is pretty gory for the Pine Tree State. Maine is ranked 37th in well-being, not a great look for the state's healthcare business.
Bankrate put Maine 41st in affordability. This clearly is on brand with how the housing market and rental crises has gone, especially in Southern Maine.
And, finally weather. Congratulations, but Maine actually ended up dead last. Now, I'm not sure I agree with this. We basically avoid all catastrophic events, and other states have harsher winters. However, it's not like its paradise either.
It's ugly results for the state we love, but does bring up some pretty significant speed bumps inconveniencing Maine.
Best States to Retire
As for the best places to retire? Here's Bankrate's Top-5.
I mean, maybe financially they are better, but yikes...not a desirable list, unless you like college football (I mean, I do love college football) and soda.
Oh well, here's to never retiring.