Mississippi Magic: Retirement Dreams Blossom In The Magnolia State

For prospective retirees seeking the ideal haven for their golden years, Mississippi is the best state to retire in.

As retirees increasingly prioritize the cost of living, healthcare and quality of life, the Magnolia State's combination of affordability and natural beauty came out on top of CreditDonkey's analysis of the best states to retire in.

The study looked at nine factors to determine the score for each state:

• Average salary
• Annual utility bills
• Annual medical costs
• Food and beverage expenditure
• Car insurance costs
• House prices and tax rates
• Crime rates
• Population over 65
• Average temperature

Mississippi is the best place to retire with an index score of 62.54 out of 100. At $6,436 per year, it has the nation's lowest utilities cost. It also is among the states with the lowest property tax rates at an average of 0.6%.

Alabama, which has an average property tax rate of 0.4%, is the second-best place to retire. It also scored high in the utilities category with the eighth-most affordable utility cost overall.

Idaho, the state with the lowest crime rate, comes in as the third-best place to retire. It also has among the nation's lowest costs of car insurance starting at $267 per year. The Gem State has the second-lowest medical costs with an average of $8,148 per year.

Ranking fourth is Iowa, which has the most affordable car insurance starting at $223 per year. Iowa also is the 15^th safest state in the nation.

Coming in fifth is Arkansas, which has the third-lowest property taxes in the country.

Top 10 Best States To Retire In

Source: CreditDonkey

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The study found that Alaska is the worst state to retire in with an index score of 25.8. It has the second-highest annual medical costs nationwide at an average price of $13,642. New York has the highest annual medical expenses at an average of $14,007."A retirement strategy is vital in helping facilitate retirement in the most stress-free way possible," said Anna Ge, director of research at CreditDonkey. "These findings prove a useful guide to the best places to retire across America that are affordable and safe. Knowing the cost of living in new locations can help you decide on potential areas to move to and can help you anticipate how much you will need to save to live comfortably."

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