When it comes to finding seniors who may benefit from a reverse mortgage, the states that are ranked the best place to retire could be a good place to start.
Seniors want to age in place, but they also want to be in a safe and affordable area, as well as place that is close to their loved ones, according to a recent study from MoneySavingPro.com, which ranked the best states for retirement based on life expectancy, tax friendliness ranking, violent crime rate per 100,000, the cost of living index and health care costs.
Taking the number one spot on the list is Idaho. The state has a life expectancy of 79.5 years old, a tax friendliness ranking of 28, violent crimes per 100,000 is 212.2, a health care cost per capita of $5,658 and a cost of living index rating of 88.2.
In second place follows Utah, which has a life expectancy of 80.2, a tax friendliness ranking of 27, violent crimes is 215.6 of 100,000, a cost of living index rating 92.4 and a health care cost per capita of $5,031, which is the lowest on the top 10 list.
The states with the best tax friendliness rankings are Alaska in first place and Colorado in second place, the study found.
There are also a few warmer-weather climates on the top 10 list, which many seniors strive for. Those states include Hawaii, Arizona, Kentucky and Georgia.
On the flip side, the the 10 worst states for retirement were revealed, the worst of which was West Virginia. The state has a life expectancy of 75.4, a tax friendliness ranking of 46, 302 violent crimes per 100,000, a health care cost per capita of $7,667 and a cost of living index rating of 103.7.
Others topping the Worst States list include Tennessee, South Carolina, Nevada, New Jersey, Massachusetts, Texas and New York.
View the full study from MoneySavingPro.com to see the top-10 Best and Worst states for retirement.
Written by Alana Stramowski