Thinking about retiring? New study ranks WA among the five worst states for retirement
If you’re thinking about retiring anytime soon, you might want to rethink Washington state as an option.
A new Wallethub study ranks Washington one of the worst states for people to retire in. The study compared and ranked all 50 states based on 46 key metrics ranging from retirement-friendliness, financial factors such tax, access to quality medical care and fun activities.
Chip Lupo, a Wallethub writer and analyst, noted in the study that although retirement is supposed to be a time for people to finally relax, it can also be stressful depending on where they choose to retire since retirement usually puts people on a fixed income and that can affect their comfortable living.
“As a result, the best states for retirees are those that have low taxes and a low cost of living to help retirees’ budgets stretch as far as possible,” Lupo noted. “Having access to excellent medical care and homemaking services is also crucial, especially for people who don’t plan to retire in close proximity to their families.”
The top 5 states for folks to retire in, according to the study, are:
Florida
Minnesota
Colorado
Wyoming
South Dakota
The Evergreen State didn’t even come close to making the top of the list, it actually sits near the very bottom with Washington ranked at No. 47 for best states to retire.
Why is Washington one of the worst states to retire in?
The study ranked Washington in 47th place for the best states to retire in mainly because of the high cost of living and the economic environment that is not favorable to retirees, Lupo said in email through a spokesperson to McClatchy. Other recent studies have ranked it similarly, including a Bankrate rating in July 2024 that placed Washington at 48.
“Despite the state’s natural beauty and access to cultural activities, it leaves much to be desired in affordability metrics, ranking 45th in adjusted cost of living and 48th in the annual cost of in-home services,” Lupo stated. “High housing costs and taxes contribute to these challenges, making it harder for retirees on fixed incomes to stretch their savings.”
Lupo added that another large contributor to Washington’s low ranking is due to healthcare being unaffordable for seniors, with the state ranking 47th in adult day health care.
Washington also ranked low in categories such as in the annual cost of in-home services (48th), property-crime rate (49th) and tax-friendliness (36th).
The Evergreen State, however, does rank well in the quality of life metrics such as access to public transportation and volunteer opportunities, Lupo stated. Public transportation access was ranked 7th and volunteer opportunities 16th in the study.
“Its low rankings in tax-friendliness (36th) and elder care costs weigh heavily on its overall retirement-friendliness,” Lupo noted. “Collectively, these factors illustrate why Washington ranks so low in WalletHub’s Best States to Retire study for 2025.”
This story was originally published February 1, 2025 at 5:00 AM.
