More than 50 million Americans today are 65 years of age or older. This figure is expected to roughly double over the next four decades. At that rate, older Americans will make up about 25% of the U.S. population by 2060, up from 15.6% in 2017.
The quality of life for elderly Americans often depends on the facilities, businesses, government spending, and living conditions in their home state. As is the case for Americans of any age, senior citizens are more likely to be happy and healthy if they are financially secure and living in a safe area.
Other factors, including access to public transportation, medical treatment facilities, and social venues, often are far more important for elderly Americans than for other age groups.
As these and other social and environmental factors vary by region, so, too, does the quality of life of elderly Americans.
24/7 Wall St. created an index of over a dozen measures related to income, health, environment, education, and access to amenities to identify the best (and worst) states in which to grow old. While the best states for the elderly span the country, the worst states are almost exclusively in the South.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.