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Maine Tops New England for Retirement

Maine ranks tops in New England in a new report on best states for retirees. It is still expensive to live in Maine, but the state also offers plenty quality of life. (Mike Clifford)
Maine ranks tops in New England in a new report on best states for retirees. It is still expensive to live in Maine, but the state also offers plenty quality of life. (Mike Clifford)
January 29, 2016

AUGUSTA, Maine - Maine is tops in New England in a new report that sizes up the best states to live for retirees.

The survey by the personal finance website WalletHub ranked Maine 30th in the nation, and the best state in New England for people to spend their retirement years.

Wallethub analyst Jill Gonzales said you have to take into account that it is relatively expensive to live in any state in the Northeast. She said Maine makes up for the cost with a number of factors including great places to spend your time.

"A lot of venues per capita, also great air quality, drinking-water quality and low violent- and property-crime rates," she said.

Connecticut ranked last in New England in the nationwide report at 48th for best states for retirement. Next in line when it came to less attractive states are Vermont, Massachusetts and New Hampshire.

The survey said nearly one-third of working Americans haven't saved anything for their retirement. According to Gonzalez, that can be an important consideration when planning where to retire.

"Those people that do retire and really haven't accounted for how much they're going to need to live on have to go back to work," she said. "So, you want to be in a place where they're very friendly to hiring older people."

Maine did best when it comes to quality of life issues, ranking 11th nationwide. Florida was rated the best place to retire, and Rhode Island came in last.

The WalletHub survey is online at wallethub.com.

Mike Clifford, Public News Service - ME