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(Steve Griffin | Tribune file photo) Utah ranks as the third-best state for retirement in a new bankrate.com study.
New study ranks Utah at No. 3 among states for retirement
First Published May 06 2014 11:04 am • Last Updated May 06 2014 04:38 pm

Utah ranks as the third-best state for retirement in a new report by bankrate.com.

Ranking ahead of Utah was South Dakota at No. 1 and Colorado at No. 2.

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Bankrate.com looked at several factors to determine which states offer the best quality of life for seniors including weather — sunshine and average humidity — plus cost of living, crime rate, health care quality, tax burden and well-being (a measurement from the Gallup-Healthways Well-Being Index that quantifies how satisfied residents are with their surroundings).

South Dakota came out on top due to its low tax burden (7.1 percent of state income vs. Utah’s 9.4 percent), low crime rate (actually higher in violent crime than Utah’s but lower in property crime) and high wellness score (70 compared to Utah’s 68.2).

The Top 5 states round out at South Dakota, Colorado, Utah, North Dakota and Wyoming.

"While the states that ranked highly may not be thought of as typical retiree havens, seniors should consider more than sunshine when choosing a place for their golden years," said Bankrate.com research and statistics analyst Chris Kahn.

The five states that ranked the lowest for retirement are New York, West Virginia, Alaska, Arkansas and Hawaii.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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