There are many hopes a person may have regarding his or her retirement, including hopes related to financial security and a high quality of life. Many things can impact what retirement actually ends up looking like for a person. People approaching retirement age here in Virginia might be encouraged to hear that, according to a WalletHub report, the state may be a place particularly conducive to a good retirement.
The report ranked it the No. 5 best state in the country for retirees. The rankings were based off of a score calculated using over 40 factors. These factors were grouped into three categories: affordability, quality of life and health care.
In all three categories, Virginia ranked in the top half of states. The category it did the best in was quality of life, with a rank of No. 9. It ranked 18th in affordability and 21st in health care.
In your opinion, what are the most retiree-friendly aspects of the state?
Now, while Virginia may have particularly good conditions for retirees, how a person’s retirement ends up going in the state is affected by many individual factors. This includes what a person does when it comes to planning for the future.
One thing that can have impacts on a person’s retirement is what he or she does in his or her estate plan when it comes to long-term care planning. Many individuals will end up having long-term care needs sometime during their retirement. How they address these needs, and the costs connected to them, can impact both their financial security and quality of life. Making preparations through long-term care planning can put a person in a better position to address such needs in a way consistent with his or her overall goals.