As clients begin to think about retiring, they may turn to you for advice on where to spend their post-work life, as well as when.
Almost 25% of non-retired adults haven’t saved any money for retirement, according to recent Fed data. One way clients may get in better financial shape is by relocating to a state that lowers their cost of living without requiring a drastic change in lifestyle.
To help inform clients on the best and worst places to retire, financial website WalletHub has compared states across three key metrics: affordability, quality of life and health care.
Affordability was calculated using metrics such as affordable taxes and adjusted cost of living. Quality of life noted crime rates along with water and air quality. Lastly, healthcare measured facilities, physicians per capita and life expectancy, among other factors.
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