Bankrate Survey: Maryland Among Worst States For Retirement

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Bankrate has published its full list of the best and worst states for retirement.

Bankrate.com found that South Dakota was the best state for retirees, beating out Utah (No. 2), Idaho (No. 3), New Hampshire (No. 4) and Florida (No. 5). "Residents in the other top states feel similarly. But if you look into it, you see how people there have very good social relationships, and feel a sense of goal with the community", said Bankrate.com analyst Taylor Tepper in an interview with Yahoo Finance.

In addition to placing tops overall, South Dakota ranked first in well-being, second in taxes, 10th in cultural vitality and 12th in healthcare quality.

'Don't think about retirement as something separate and apart (from what you want now),' he said. "Yes, South Dakotans enjoy a low tax burden, but they are also more satisfied with their lives than anyone else".

In addition to NY, the bottom five states included New Mexico, Maryland, Louisiana and Arkansas. It did pretty well in the crime and culture rankings, but cold winters and sky-high rents in places like New York City apparently make it an unappealing retirement spot. And unfortunately for those in the northeast, NY landed at the bottom, due in large part to its cost of living being higher than any other state in the union.

Louisiana and Arkansas followed to round out the five worst states in which to retire.

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