The 10 best US states for retiring rich
Flickr / Ruth Temple
If you're looking to settle down soon, you may want to consider the east coast.
In a recent report, GOBankingRates found that the 10 best states to "retire rich" lie east of the Mississippi River, while seven of the 10 worst states to retire rich are located in the west and midwest.
The site surveyed all 50 states to determine the spots that are not only affordable, but where you can maximize your retirement savings. It based the ranking on multiple factors, including:
- taxes (state sales tax, state tax on Social Security benefits, and property tax
- living expenses (average home listing price, median home value, and a cost of living index)
- banking rates (savings account interest rate and two-year CD account interest rate)
- health insurance costs
- Social Security payments
(Visit GOBankingRates for the full methodology.)
Read on to see which east coast states cracked the top ten. We also included the average Social Security benefits, average home listing price, and the cost of living index, all from GOBankingRates.
Melissa Wilkins/flickr10. Georgia
Average Social Security benefits: $1,304
Average home listing price: $264,670
Cost of living index: 91.7
Always Shooting/flickr
9. Ohio
Average Social Security benefits: $1,300
Average home listing price: $185,335
Cost of living index: 92.5
Nagel Photography/Shutterstock
8. Mississippi
Average Social Security benefits: $1,239
Average home listing price: $180,209
Cost of living index: 83.5
See the rest of the story at Business Insider