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The five best and worst states for retirees

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Best & worst states to retire in

Retirees might want to pick up a pair of hiking boots instead of board shorts., a financial rate information website, released a report in which the mountain region overtook coastal spots in its list of best states for retirement. The study ranks states by how well retirees do in that state. Bankrate examined cost of living, taxes, health care, weather, crime and residents' overall well-being to determine its ranking.

Claes Bell, a senior analyst at, said that because retirees tend to live on a fixed income, financial conditions were more heavily weighted than weather.

"The important thing when picking a place to settle down when retiring is not thinking about it as a permanent vacation, but having to live there. You want to go to places where you can maximize what you've been able to save. The last thing you want to do is run out of money and go back to work," Bell said.

Did your state top the best or worst list? Click ahead to find out.

—By CNBC's Christine Wang
Posted 1 March 2016

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