More info @ http://lpl-research.com/~rss/Thought_Leadership/TL_Retirement_Environment_Index_2017.pdf
The Retirement Environment Index seeks to discover the complicated answer to the simple question: “Which state is most desirable for pre-retirees?”
The LP Financial Research REI takes a holistic look at each state’s desirability for pre-retirees, ranking them based on a variety of factors considered important for many 45- to 64-year-old who trying to maximize their dollars as they start thinking about, if not actively planning, for retirement, as well as continuing to learn, work and socialize.
This unique index looks specifically at the 45- to 64-year-old cohort (pre-retirees) and collectively assesses strengths and weaknesses of pre-retiree desirability on a state level, rather than city or regional level.
NEBRASKA – The New #1
Nebraska moved several spots higher to take the number one spot this year’s rankings. In doing so, it dethroned Virginia, which had maintained the top spot for two years running. Although Nebraska slipped one grade in Housing, improved scores in the Financial and Community Quality of Life subcategories helped the state power higher in the rankings. Virginia, for its part, still ranked highly in most categories, though a slight downgrade in the Financial subcategory (from an A to a B) pushed it to a still respectable seventh place this year..
RHODE ISLAND – Previous Ranking 36, Now 26
Moving from a B to an A in Healthcare helped Rhode Island move 10 spots higher this year. The state scored well across the board, but high rates of preventive health screenings and a lower rate of hospital discharges due to preventative issues were factors. The state also scored well in Employment and Education across the board, helping its overall rating.
ALASKA – Previous Ranking 50, Now 39
Improvements in Financial and Community Quality of Life scores helped Alaska move 11 spots higher for 2017. Low poverty and foreclosure rates helped quality of life scores, while an increase in median income and slight decrease in a still relatively high cost of living helped move the Financial score higher.
WISCONSIN – Previous Ranking 26, Now 16
Marginal declines in Financial, Healthcare, and Community Quality of Life scores led Wisconsin to fall from an overall score of A in 2015 to a C in 2016. While the state maintained an overall C rating for 2017 a bounce back in Healthcare and Community Quality of Life scores pulled the overall ranking ten spots higher to 16th. Above-average healthcare expenditures per capita, above-average rates of health insurance coverage, and high rates of preventive care helped move the overall Healthcare score higher. Declining poverty, foreclosure, and crime levels helped move the needle for Community Quality of Life..
WASHINGTON, D.C. – Previous Ranking 16, Now 30
Washington, D.C. saw the largest drop in rankings year over year, driven primarily by a decline in its Financial score. An increase in cost of living (where the district already ranked second highest of any state), coupled with continued low scores in Housing and Community Quality of Life hurt the district’s 2017 ranking. On the plus side however, Washington, D.C. continues to rate highly in the Healthcare and Employment and Education categories.
NEW YORK – Previous Ranking 49, Now 51
Low Financial, Community Quality of Life, and Housing scores combined with a slight drop in Healthcare scores from an A to a still very respectable B were the largest drivers in New York’s fall to the bottom of this year’s rankings. California, which was at the bottom of last year’s rankings, managed to move one spot higher on a slight increase in its Housing score.
The retirement environment in each state is unique, and some states differ vastly from neighboring states. However, regional trends are worth highlighting. States in the Midwest scored the best on averages this year (average 15th place out of 51 states), followed by the South. The West had the largest range of scores, with Wyoming ranking number five, and California coming in at number 50. Within each category, there are also distinct regional trends among the four major U.S. census regions (Northeast, South, Midwest, and West):
Financial: The Midwest was the clear regional winner in the Financial category for 2017, with metrics in line with national averages except for cost of living, which is well below the national average, and just below that of the South. The Northeast’s higher cost of living and tax burden pulled average financial scores lower for the region.
Healthcare: The Northeast remains the standout in the Healthcare category, doing well in most subcategories that demonstrate excellent access to, and cost of, quality care. The Midwest trails in this metric across all subcategories.
Housing: The Midwest leads, followed closely by the South, based primarily on broad housing affordability. The Northeast trails for the same reason.
Community Quality of Life: The South comes in at the top of our ranking, with high scores across all metrics. The Northeast came in at the bottom this year due to higher crime and foreclosure rates.
Employment and Education: The Northeast stands out, followed by the West. The Northeast’s advantage is driven by higher college degree attainment rates and higher employment rates. The Midwest trailed.
Wellness: The Northeast and the South were strong across all categories, whereas the Midwest followed behind, largely due to higher levels of obesity and lower life expectancy for 65 year olds. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
June 29, 2017 at 10:51PM