The Best and Worst States for Retirees

The Best and Worst States for Retirees

You may want to trade in those oceanfront retirement dreams for ones of rolling plains and corn fields. That's because Nebraska was named the No. 1 state for retirees.

In fact, the top five states in LPL Financial's Retirement Environment Index and the only ones to receive an "A" grade are all in the Midwest.

The study ranked each state in six categories important for retiree desirability: financial (the state's fiscal health and the financial health of its pre-retirees), health care (accessibility and cost), housing (availability, affordability and presence of nursing care), community quality of life, employment and education, and wellness. Here are the winners:

The Best States to Retire In

1. Nebraska
2. Michigan
3. Minnesota
4. South Dakota
5. Wyoming

What really gave Nebraska its edge this year, moving it up eight spots from last year, was high marks in the financial and community quality of life categories. (The financial factor was the most important category, comprising 35% of a state's ranking.)

Each state also received a letter grade based on its percentile rankings. Sadly, the majority of states would be embarrassed to show their parents their report card, with 22 C's, 11 D's and 6 F's.

So, which states fared the worst? These six flunked out entirely:

The Worst States to Retire In

1. New York
2. California
3. Oregon
4. New Mexico
5. New Jersey
6. Hawaii

Overall, the Midwest led in the financial and housing categories, while the Northeast stood out in health care, employment and education, and wellness. Meanwhile, the South came in at the top for community quality of life and wellness. To see where your state ranked, check out the full report — and then maybe give those retirement plans another look.

RELATED: 7 Common Mistakes Financial Planners See When It Comes to Retirement

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