retirement

10 worst states for retirement

Retirement » 10 Worst States For Retirement

No. 9: Maryland
Maryland © Jon Bilous/Shutterstock.com

No. 9: Maryland

The primary knock on Maryland is that it's more expensive to live there than in many other states. The cost of living for retirees is especially high, and residents pay one of the highest tax rates in the country.

According to the latest analysis from the Council for Community and Economic Research, retirees can expect to pay $1.12 more than the national average for a movie ticket and $9.58 more for a trip to the beauty parlor. Medications like Lipitor and ibuprofen also are higher than the national average.

The Tax Foundation calculates that Maryland residents pay 10.6 percent of their combined income in various state and local taxes. Its analysis, which includes property and sales taxes, says that Maryland is the seventh-highest taxing state in the country.

Maryland also posted low scores for health care quality, and its crime rate is above the national average.

Sources: Agency for Healthcare Research and Quality; Healthways; the Council for Community and Economic Research; the FBI; the Tax Foundation, and the National Oceanic and Atmospheric Administration.

Source methodology: Bankrate collected the latest available statistics on cost of living, violent and property crime, health care quality, state and local taxes, wellness and weather (humidity, percent available sunshine and temperature). States were then given standardized scores, with more points going to a lower cost of living, lower crime rate, lower tax burden, stronger health care, better wellness grades and better weather. The scores were combined to create a composite score.

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