Invest in You: Ready. Set. Grow.

Here are the three best states for retirement in 2021

VIDEO2:5902:59
These are the best states for retirees

Retiring in Florida is an American tradition, but there's no shortage of places to spend your golden years.

Georgia was named the best state to retire in 2021 by a Bankrate study, because it has a lot of the same qualities as Florida but at a more affordable price, according to Jeff Ostrowski, an analyst at Bankrate.com.

The study ranked states using five categories: affordability, wellness, crime, weather and culture.

Check out this video to learn more about how the rankings work and which other states may be a good option for retirees.

More from Invest in You:
Here are the three worst states for retirement in 2021
How much you can expect to get from Social Security if you make $40,000 a year
The real 'Catch Me If You Can' con artist says this classic scam is making a comeback

SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.