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Virginia has emerged as the top state for retirement in 2023, surpassing Florida, according to an extensive study conducted by WalletHub. The "2023's Best States to Retire" study evaluated all 50 states based on three critical criteria: affordability, quality of life, and access to health care. By analyzing data from credible sources such as the U.S. Census Bureau, the Centers for Disease Control and Prevention, and the Council for Community and Economic Research, WalletHub provided valuable insights into the most desirable retirement destinations.
While Virginia ranks sixteenth in affordability, its exceptional performance in quality of life and health care propelled it to claim the coveted top spot. With impressive rankings of 11th in quality of life and health care, Virginia offers a well-rounded and attractive retirement location for individuals seeking a high standard of living and access to top-notch health services.
Despite its popularity among retirees, Florida fell second in this year's study. Although it ranked fourth in quality of life and ninth in affordability, Florida's position was significantly affected by its 28th ranking in health care. Nevertheless, the state continues to allure retirees with its mild climate, recreational opportunities, and thriving retirement communities.
In addition to Virginia and Florida, WalletHub's study highlighted the top 10 states for retirement as Colorado, Wyoming, Delaware, New Hampshire, South Dakota, Minnesota, Idaho, and North Dakota. These states offer a winning combination of affordability, quality of life, and access to health care, making them highly appealing retirement destinations.
When considering the best state to retire, factoring in individual priorities and objectives is essential. Elements such as cost of living, proximity to family and friends, climate, and recreational activities should be thoroughly evaluated. Engaging in extensive research and visiting potential retirement locations during different seasons can provide valuable insights into each state's lifestyle and experience.
As you prepare for this exciting chapter in your life, making an informed decision about your retirement destination is essential. You can ensure a fulfilling and enjoyable retirement by carefully weighing each state's opportunities and amenities against your personal preferences. Choosing the right location can significantly impact the overall quality of your retirement, and that's why we invite you to schedule a call with one of our financial advisors for a free consultation. They can provide expert guidance and assist you in making the best choices for your financial future.
The forgoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of The Lynch Retirement Investment Group and not necessarily those of Raymond James.
There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct.
 Lynch Retirement Investment Group2016, 2017, 2018, and 2019 |
 John M. Lynch, CIMA®, CPWA® |
John M. Lynch, CIMA®, CPWA® Managing Director – LRIG
Financial Advisor– RJFS, of The Lynch Retirement Investment Group, LLC.
Was named on the 2021 Forbes Best-In-State Wealth Advisor List.
 John M. Lynch, CIMA®, CPWA® |
.png?width=202&height=202&name=Untitled%20design%20(14).png) Andrew Fentress, CFP® |
Adam Tobin, CFP®, CRPC |
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Barron's "Top 1,200 Financial Advisors," March 2022. Barron's is a registered trademark of Dow Jones & Company, L.P. All rights reserved. The rankings are based on data provided by 6,186 individual advisors and their firms and include qualitative and quantitative criteria. Factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice, and philanthropic work. Investment performance is not an explicit component because not all advisors have audited results and because performance figures often are influenced more by a client's risk tolerance than by an advisor's investment picking abilities. The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of the advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron's is not affiliated with Raymond James. The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience, and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and a lack of audited data. Out of approximately 32,725 nominations, more than 5,000 advisors received the award. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of (individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info
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