There are many things to consider when deciding where you are going to retire. Economic factors that will affect your nest egg may be the most important. Why? It may be that things like low crime rate and beautiful weather come at a very high price. The price may be more than you are willing to pay or even more than you can afford. In order to compare cost of living, tax rate and long-term care costs, I looked into several different sources. First of all, Investipedia.com compared the cost of living index and tax rate data from bankrate.com’s list of “Best and Worst States to Retire” and Kiplinger’s list of “10 Worst States for Retirement” to come up with their list of “The Most Expensive States to Retire In.” Then we factored in Genworth’s “2015 Cost of Care Survey” in order to come up with a list of the five most expensive states when considering all the factors. In alphabetical order they are:
