TopRetirements.com released its 2012 list of the “Worst States to Retire.” It will probably come as no surprise to those of us that live here that Massachusetts finished fifth on the list – behind Connecticut, Illinois, Rhode Island, and Vermont. Among the reasons that Massachusetts made the list were high property taxes and the high cost of living. In the 2011 report, Massachusetts finished 8th.
Surprisingly – at least to me – was that Vermont finished in the fourth spot. In addition to the climate, the article cited very high property and income taxes as the reason. Only five factors were use to compile the list: fiscal health, property taxes, income taxes, cost of living, and climate. If those factors are not important to you, TopRetirement offers a site where you can customize your report.
The article acknowledged that there may be more important factors to people contemplating retirement: proximity to family and friends, social services, and the quality of medical care.