Many of the worst states for retirement either suffer from high costs or a dearth of recreation and healthcare services, according to a new study by WalletHub.
The study focused on which states offer the best—and worst—environments for retirees, taking into account 47 data points within the three broad categories of healthcare, affordability and quality of life.
Many states at the bottom of the list are notable for their high cost of living, which in some cases offsets high marks for quality of life and healthcare services.
WalletHub said in its report that it should be no surprise that cost factors are weighted so heavily when considering retirement destinations.
"Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses," WalletHub said in the report. "Social Security benefits increase with local inflation, but they replace only about 37% of the average worker’s earnings."
The report also emphasized that finding the right location for retirement is critical considering that 25% of non-retired U.S. adults haven't saved any money for retirement.
"In addition, only 40% of non-retired adults think their retirement savings are on track," the report stated.
The following, in descending order, are WalletHub's worst states for retirement:
10. Arkansas
Arkansas is next to last in the nation in the quality of life category. It also has the fewest museums per capita in the U.S. The state does, however, rank high for affordability, placing 8th in that category.
9. Maryland
The state ranks 46th for affordability, while ranking 19th for healthcare.
8. Washington
The state ranks 45th for affordability. But its quality of life stands as a positive, ranking 13th among all states. Washington also has the nation's second-highest in-home services costs.
7. Illinois
Illinois is another state that placed lower on the list because of affordability, ranking 42nd in that category.
6. Louisiana
The state ranks 13th for affordability, but places 45th for quality of life and 47th for healthcare. It also tops the nation in the property crime rate.
5. New York
New York was ranked the most expensive state for retirees, while it ranked 10th for quality of life. It does, however, have the most museums and theaters per capita, and it ranks fourth for life expectancy.
4. Oklahoma
While the state ranks third in the nation for adjusted cost of living, it scored low in quality of life, ranking at 47th, and healthcare, where it finished at 43rd.
3. Mississippi
Similar to Oklahoma, Mississippi ranked second in the nation for adjusted cost of living, but it was judged the worst state for quality of life and 48th for healthcare.
2. New Jersey
The Garden State came in just behind New York for worst affordability, while it finished 34th for quality of life and 22nd for healthcare.
1. Kentucky
The state scored poorly across the board, ranking 33rd for affordability, 41st for quality of life and 45th for healthcare.
The full report can be viewed here.