retirement

Where are the worst states for retirement?

Retirement » 10 Worst States For Retirement

No. 7: Hawaii
Hawaii © iStock

No. 7: Hawaii

Weaknesses: Extremely high cost of living

Lying on the beach in paradise may seem like a great way to spend your retirement, and what better place to do that than Hawaii? The Aloha State is simply gorgeous, and Gallup-Healthways gave it the highest score in the country for personal well-being.

The problem with Hawaii is the same with any other major tourist haven: It's expensive.

Honolulu residents pay top dollar for just about everything. In Honolulu, ibuprofen costs around $14.63 -- a whopping 55 percent above the national average -- while the cost of the average apartment rental is $2,975 a month. Overall, Hawaii has the highest cost of living in the nation, according to the Council for Community and Economic Research.

Hawaii's individual income tax also ranks the second highest among all states.

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

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