West Virginia and South Carolina are retirement hotspots

Retirement is becoming increasingly attractive in certain states. Many retirees are moving to places that offer low costs and a high quality of life. A recent study by Bankrate examined factors like affordability, healthcare costs, crime rates, and weather to identify these desirable locations. West Virginia and South Carolina are among the top choices for retirees. West Virginia ranks as the second-best state for retirement, just behind Delaware. The state's cost of living is 16% lower than the national average. It also has the ninth-lowest average property tax rate in the U.S. Some benefits for retirees include no tax on Social Security benefits by 2026 and affordable housing options. Cities like Charleston provide a blend of scenic beauty and cultural richness. However, West Virginia faces challenges. Access to healthcare in rural areas can be difficult to navigate, and winters may be harsh with heavy snowfall. South Carolina has also gained popularity among retirees, moving up in Bankrate's rankings. While its overall cost of living is slightly above average, housing remains affordable. The state has no estate tax and offers favorable tax policies for retirement savings. Its beautiful coastline attracts many, with options for seaside homes. Yet, potential retirees should be aware of the state's hot summers and the risks of hurricanes and flooding. Health care costs are also a concern, ranking moderately in the study. Overall, both states offer unique benefits and drawbacks, making them worth considering for those looking to retire.