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The 10 worst states for clients to retire

Retirement is an ongoing challenge for clients and advisors given how few are aggressively saving for the future. Almost 25% of non-retired adults haven’t saved any money for retirement, according to the Fed. That is a looming problem given increased life expectancy and threats to Social Security.

But smart decisions about where to retire may help clients make their post-work savings go even further. Some states are better than others. Financial website WalletHub has compared states across three key metrics: affordability, quality of life and healthcare.

Affordability was calculated using metrics such as state taxation of income and assets, including estate taxes, as well as cost of living. Also included: pension, Social Security, inheritance and adjusted cost of living. Quality of life measured areas including crime rates and water and air quality. Lastly, healthcare put weight on areas including healthcare facilities, physicians per capita and life expectancy.

According to WalletHub’s research, these states came up on the bottom. For the full report, click here. To see our companion piece on preferred states for retirement, click here: The 10 best states for clients to retire

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10. Maryland
Total score: 50.55
Affordability score (ranked out of 50): 42
Quality of life score (ranked out of 50): 30
Healthcare score (ranked out of 50): 19
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9. Louisiana
Total score: 50.06
Affordability score: 10
Quality of life score: 45
Healthcare score: 45
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8. Mississippi
Total score: 48.87
Affordability score: 3
Quality of life score: 50
Healthcare score: 50
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7. Arkansas
Total score: 48.53
Affordability score: 11
Quality of life score: 49
Healthcare score: 46
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6. New Mexico
Total score: 47.92
Affordability score: 33
Quality of life score: 47
Healthcare score: 39
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5. New Jersey
Total score: 47.85
Affordability score: 45
Quality of life score: 33
Healthcare score: 29
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4. Vermont
Total score: 47.76
Affordability score: 50
Quality of life score: 6
Healthcare score: 23
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3. West Virginia
Total score: 47.26
Affordability score: 22
Quality of life score: 41
Healthcare score: 49
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2. Rhode Island
Total score: 45.94
Affordability score: 46
Quality of life score: 43
Healthcare score: 18
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1. Kentucky
Total score: 43.85
Affordability score: 32
Quality of life score: 48
Healthcare score: 47