Monday, May 06, 2013

Financial-advice magazine suggests rural retirement

Rural states are the best places to retire, according to a new study by Bankrate, a financial planning magazine. The magazine based its rankings on health, safety and costs, then gave states a number based on population rates per number of hospital beds, doctors, crimes and violent acts, state and local tax, average temperature, and cost of living. States were ranked by best overall average score. (Photo: Despite being cold, states such as the Dakotas were ranked in the top 10)

Tennessee was ranked No. 1, followed by Louisiana, South Dakota, Kentucky, Mississippi, Virginia, West Virginia, Alabama, Nebraska and North Dakota. Some rural states, though, were rated poorly, with Oregon coming in last, and Alaska 49th, but overall, rural states were in the top half of the list.

Chris Kahn, an analyst at Bankrate, said of Tennessee, "Not only does it have a Florida-like climate, but Tennessee also boasts the second lowest cost of living in the country," reports Melanie Hicken for CNN. Combined with a low tax burden and great access to medical care, Tennessee is ideal for retirees living on fixed incomes. The only downside: the state has one of the country's highest crime rates." (Read more)

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