The 5 Best States to Retire During TURBULENT Financial Times

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Published 2022-10-09
This video discusses the 5 best states to retire during turbulent financial times. There is no doubt that we are in difficult financial times and the effect on retirees is particularly pronounced. There are a lot of considerations when thinking about moving to a friendlier more cost-effective state including, crime, culture, proximity to family and friends and of course the cost of living.

This video takes the 50 states in the United States and methodically eliminates those that don’t serve a retiree using the categories above. The end result is a well thought out conclusion on the best places to retire in the USA.

Link mentioned in the video:
meric.mo.gov/data/cost-living-data-series

FREE Retirement Ready Checklist:
HolySchmidt.com/Checklist/

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Geoff's Facebook Page
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Federal Reserve Board Survey of Consumer Finances:
www.federalreserve.gov/econres/scfindex.htm

Social Security Administration Application for Benefits
secure.ssa.gov/iClaim/rib

Current Social Security Cost of Living Adjustment
www.ssa.gov/cola/

Social Security Payment Estimator
www.ssa.gov/benefits/retirement/estimator.html


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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.

All Comments (21)
  • @mvp019
    One problem in the USA is that no matter where you live, medical care is never affordable. The criminal cabal between legislators and the medical industry (Pharma, Insurance, and facility-owning corporations) has created a complete mess for the country.
  • Left Michigan and retired in Vermont. Great decision for us. Low crime, low cost insurances. Beautiful seasons, active community. Would like warmer weather, but didn't have that in Michigan, either.
  • @terrimykland1621
    I'd love a version of this video showing the top 5 states that fit these criteria with moderate weather - I want to be able to walk outdoors year round - better for health, saves on utilities - great for retirement.
  • @Ted_E_Bear
    Harland David Sanders was an American businessman, best known for founding fast food chicken restaurant chain Kentucky Fried Chicken and later acting as the company's brand ambassador and symbol. His name and image are still symbols of the company.
  • THANKS, JEFF! FOR THE INFORMATIVE INFORMATION! AND THE PICTURE OF YOUR DAD WITH THE COLONEL!
  • Colonel Harland David Sanders - the iconic image behind Kentucky Fried Chicken. His life story is a perfect example of the tenacity and hard work that paved the way for so many fledgling entrepreneurs. This video is very timely in that I am just starting to plan on where I want to retire in the next two years. Sadly, the five states mentioned are no where near my radar - but the information you have provided to reach the list of five is outstanding!! Along with affordability and safety, I would want to add tax information; active adult community; friendliness; drivability and weather. Part of my research at the moment is finding active senior condos/apartments in a variety of states. Like you said early on in your video, it would be nice to live near people my own age with similar interests. Thank you for ALL of your very informative and helpful videos. Really appreciate the time you take to educate your followers!!
  • A lot of affordability depends on your personal situation. If you live in an expensive state, but you bought your house many years ago and paid it off, and you live in a town with low property tax, you may have a great deal already. Studies have shown that retirees spend about 40% of their income on housing, so if your housing costs are very low you might consider staying put.
  • @lukemn29
    An isolated island in the South Pacific sounds great right about now.
  • @cgeorge6250
    Col Sanders!! Always so much great info. Thank you
  • I’m in south Florida. While the weather is great , crime and cost of living is bad!
  • I appreciate this list and would love it if expanded it to the top 10 or 20.
  • @pnowikow
    Great information as always thank you
  • @Crazyreseller
    I take serious issue with Illinois being on your list. I live here and it’s expensive! The property taxes are insane. Cost of living is high as well. Further evaluation is needed.
  • @willjay916
    Geography doesn't solve problems because wherever you go, there you are. Grow where you are planted. At retirement you need your MD, your attorney, your accountant, and a community that sustains you. You will need to pick and choose how you allocate your ime, talent, and resources, but you've been doing that all along.
  • Love your videos! I thought it was very interesting to hear you lived in Hawaii as a child and that your father was a helo pilot. I also lived at Schofield Barracks as a 10 year old (1973-1976) And my father was a helicopter pilot, 2 tours in Nam. Hawaii was definitely my favorite tour! Waianae was the best beach on the Island in my young memory. North shore came in 2nd. Keep up the great videos and Shaka brah!!! Col Sanders!!!
  • @clwest3538
    I have really learned a lot from your vids! Thank you! I'm a couple years out from retirement. As you stated, the criteria is personal. Personally, I would not want to be trapped on a large collection of volcanoes located miles out to sea (I don't care how 'wonderful' it is!) nor a spongy, alligator ridden, swampy, hurricane prone peninsula - all that water! Not a strong swimmer and after having the sand sucked out from under my feet and landing on a stinking pile of kelp as a kid on a CA beach, I gave up the ocean (well, any body of water actually like lakes etc) - I like to visit, but not live there. Additionally, getting a crick in my neck trying to see the sky doesn't interest me either so mountains are out for me. But then, I'm a flat-lander who loves watching the sky & weather, working with my horse and a 'southwest US lite" lifestyle. Living in OK I have found the weather and the medical to be quite adequate (within reason - 3 day springs & autumns are a bit nuts) - but I am generally healthy, outdoorsy type; and it helps that my extended family live within a 2 mile and/or 3 hour driving radius.
  • Jeff, I enjoy your videos. I was watching on your "competitors" regarding the 2022/2023 Spending Bill, specifically parts related to retirement. I hope that you will do a video regarding retirement changes. Finally, as I'm listening to your video on Christmas Eve, in Kansas City, I'm freezing, as we are stuck in a refrigerator (which should break by midweek).
  • Thanks for the video! None of the top 5 would be in my retirement list!
  • I appreciate all that you do to keep us informed on money matters. That said, numbers and statistics can be misleading and don’t tell the whole story. This analysis paints with a broad brush. There are huge differences with these metrics within each of the mentioned states. For example; in Florida, the cost of living difference from Miami/Ft. Lauderdale area and the Ocala Gainesville area is substantial.