A WalletHub study has ranked the best and worst states for retired military families based on data from 28 key metrics that range in factors such as healthcare, tax policies and job opportunities. Florida took the top spot for the best state for military retirees, followed by South Carolina and Virginia. On the other hand, Oregon ranked last, while the District of Columbia and Nevada ranked 50th and 49th, respectively.
According to Jill Gonzalez, a WalletHub analyst, there are more veteran-owned businesses and lower cost of living in top-ranking states. Whereas states that tend to lack affordable housing end up with homeless veterans and higher veteran suicide rates. Republican states tend to be more favorable towards military families.
Florida had the highest ranking on the list due to factors such as authorizing veterans’ preference in private hiring, tax-friendliness, a strong job market and the existence of veteran treatment programs for mental health and substance abuse. Furthermore, Virginia and South Carolina had the highest percentage of veteran-owned businesses, while Arkansas and Virginia had the lowest percentage of homeless veterans.
The WalletHub study also found that transitioning from military to civilian life can be made easier if veterans live in areas where their military-acquired skills are valued by local employers. Additionally, these areas should offer robust veteran services and easy access to quality healthcare.
If you are looking for ideas on where to retire, you can check out MarketWatch’s Where Should I Retire? column.
