Virginia is 2020’s 7th best state to retire, study shows

Posted at 7:02 AM, Jan 13, 2020
and last updated 2020-01-13 07:02:32-05

VIRGINIA BEACH, Va. – Virginia is the 7th best state to retire in, according to a Wallethub study.

The study compared the 50 states across 47 key metrics to help retirees find a safe, enjoyable and wallet-friendly place to call home.

The data set ranges from adjusted cost of living to weather to quality of public hospitals.

The top ten places to retire, according to the study, are as listed:

  1. Florida
  2. Colorado
  3. New Hampshire
  4. Utah
  5. Wyoming
  6. Delaware
  7. Virginia
  8. Wisconsin
  9. Idaho
  10. Iowa

Retiring in Virginia (1=Best; 25=Avg.)

  • 14th – Annual Cost of In-Home Services
  • 24th – WalletHub ‘Taxpayer’ Ranking
  • 13th – Property-Crime Rate
  • 21st – Life Expectancy
  • 4th – Access to Adult Volunteer Activities

The study also shows that 25 percent of non-retired adults haven’t saved any money for retirement, though not necessarily through any fault of their own. Social Security benefits increase with local inflation, but they replace only about 39 percent of the average worker’s earnings, according to Wallethub.

For the full report, please visit this link.