This Midwestern State Was Just Named One of the Best Places to Retire for Affordability and Tax Perks

Live out your golden years in style in Missouri.

You know what they say, "The days are long, but the years are short." Getting to retirement age can sneak up on you, and that's why it's key to be prepared as early as possible for post-working life. Part of that preparation can mean thinking about where you will live in your golden years to make your dollar stretch just a bit further. And there's a state in the Midwest that may be the perfect fit.

In late July, Bankrate released its list of the best and worst states for retirement after analyzing "dozens of data points for each U.S. state," including each state's living costs, health care costs, weather, crime stats, and overall well-being of its citizens. After looking at all the data, it named Missouri its No. 5 best spot for retirement.

"Fifth-place Missouri shines for affordability, ranking well for cost of living and property taxes," the findings revealed. "Affordability carries a 40 percent weight in the ranking, which is why we see Missouri ranked high on our list." The one place this state struggles, the findings added, is with its quality of health care, crime, and potential for natural disasters, which is why it didn't take the No. 1 spot. Still, five out of 50 is a fantastic showing.

Other states to make it to the top of the list include the No. 1 ranked Delaware, which came out on top thanks to its retirement-friendly taxes, diversity, and overall well-being. It was followed by West Virginia, which ranked third thanks to having the best affordability score in the entire U.S., but lost out on a higher ranking due to its lower scores on wellness and quality of health care.

Georgia came in at No. 3, making a huge leap from the 15th spot in 2023 thanks to its lower cost of living and quality of health care. South Carolina came in fourth, also making a major leap from the 19th spot in 2024 due to its fantastic weather, well-being, and access to quality health care.

See how every state ranked and a few pieces of critical retirement advice at bankrate.com.

Related: 8 of the Cheapest Countries to Retire Around the World

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