Experts are warning you NOT to Retire in Illinois

If you are planning for retirement in 2024 you have to avoid doing it in Illinois according to the experts, why is it so bad to retire in the Land of Lincoln? Here are the details...

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According to the experts at WalletHub, Illinois is one of the 10 worst states to retire in this year. Illinois ranked 41st of the 50 states on the list of the best states to retire in this year, and it ranked only ahead of states like Mississippi, Louisiana, Kentucky, and New Jersey. How did WalletHub determine these rankings? On their site, they say...

"Many people fear that retirement will mark the end of their financial security, and others worry they might never actually get to retire...Living in the right place after you retire can make your money go a lot further. To determine the best states to retire, WalletHub compared the 50 states across 46 key indicators of retirement-friendliness, from financial factors like tax rates and the cost of living to things like access to quality medical care and fun activities."

The main reason Illinois ranked so low on the list of states to retire in? Cost. Illinois was 47th out of 50 in the affordability category. and was dead last in the Taxpayer ranking behind even California, and New York. On the positive side, Illinois was ranked 16th in the Quality of Life category, so at least your life will be good here even though you'll be broke... To see the full rankings for yourself, click here!

Did they get it right?

I think they did, Illinois would be a much better place to retire if it was more affordable. But when you factor in the weather and the insane costs it doesn't make sense to retire in the Land of Lincoln. The leaders of the state need to find a way to bring the costs down if they want to get people to retire here because they can't do anything about the weather.