Bankrate names Georgia No. 2 best state to retire in 2022

A report from HireAHelper found that 226,000 relocated for retirement last year. Luckily, that doesn’t have to be the case for Peach State residents.

Ranked as the second-best state to retire in by Bankrate, Georgians can enjoy their life after retirement without the hassle of moving elsewhere.

The consumer financial services company looked at five different categories when determining the best retirement spots. They were: affordability, wellness, culture, weather and crime. As inflation affects the nation at 8.5%, Bankrate weighed affordability the highest as retirees need to live comfortably without burning through their savings.

Data from the Council for Community and Economic Research’s Cost of Living Index, the Tax Foundation, Sharecare Community Well-being Index, the U.S. Census Bureau, the National Oceanic and Atmospheric Association, and the FBI’s 2019 Crime in the United States Report was used for the state rankings.

While Florida topped Bankrate’s list of the best states to retire in 2022, runner-up Georgia’s overall score was 30.37. The state ranked No. 4 in weather, No. 29 in crime, No. 35 in well-being, and No. 37 in culture and diversity.

“For retirees considering a move to Georgia, affordability is one big selling point. The state combines a low cost of living and a light tax burden to rank No. 7 in affordability,” Bankrate said.

“The state’s only weak spot is in the culture category — the Peach State has one of the nation’s lowest percentages of over-65 residents, and it ranks near the bottom in arts and entertainment establishments per capita, based on a Bankrate analysis of Census data.”

Not only is Georgia one of the best places to retire, but the state capitol came in at No. 13 on a separate ranking of 182 cities by WalletHub. Atlanta ranked No. 5 in activities, No. 49 in affordability, No. 114 in healthcare, and No.128 in quality of life.

“Retirees want to live in a place where they enjoy safety and access to good healthcare, especially in the wake of the COVID-19 pandemic,” the personal finance website said. “The ideal city will also have lots of ways to spend leisure time, along with good weather.”

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