California is one of top 5 worst states for retirement, study says. Here’s why

California offers everything from beach towns to bustling cities.

However, a recent report says it might not be the best state for folks looking to retire.

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According to a new study by retirement planning site Retirement Living, California ranks among the worst states for retirement because of its high cost of living and tax burden.

“With more Americans hitting retirement age than ever, that financial concern is entirely understandable,” Retirement Living said in its November report. “Where you decide to spend your golden years can have a major impact on both your financial security and daily happiness.”

To determine the best — and worst — states for retirement, the site analyzed factors including affordability, taxes, healthcare access and overall quality of life.

“Two retirees with the same savings can face very different outcomes depending on state taxes, housing costs, healthcare access and everyday expenses,” Retirement Living said. “The right location can stretch your income further and give you more peace of mind.”

Here’s why California is one of the worst states for retirement:

What is the worst state to retire in the US?

According to Retirement Living, Hawaii was the worst state for retirement in the country.

“While the year-round mild weather and natural beauty are undeniable, the cost of living is sky-high,” the retirement site said.

The state’s high income tax rate — up to 11% — adds to the financial strain.

Retirement Living estimates retirees would need about $1.7 million in savings to live comfortably in Hawaii.

However, the Aloha State still stands out for its quality of life.

“The state has a low violent crime rate, abundant green spaces and a peaceful, scenic environment,” Retirement Living said. “For retirees with a generous budget, Hawaii can offer a truly tranquil place to enjoy their golden years.”

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Why is California ranked among the worst states for retirement?

Retirement Living ranked California as the fifth-worst state for retirement, with the nation’s highest state income tax rate at 13.3%.

The retirement site said retirees in California need an estimated $1.2 million in savings to enjoy their golden years.

However, California remains appealing to many retirees because it comes with a retirement lifestyle for just about everyone.

“Retiring in California also means access to diverse landscapes, a rich cultural scene and countless lifestyle options,” Retirement Living said. “Ffor most retirees, those perks come with a price tag that’s simply out of reach, forcing some to relocate in search of affordability.”

Where are the best cities to retire in California?

According to Retirement Living, here are the 10 best cities to retire in California:

1. Chico
2. Daly City
3. Clovis
4. Vacaville
5. Thousand Oaks
6. Huntington Beach
7. Roseville
8. Visalia
9. Santa Rosa
10. Ventura

What are the best states to retire in US?

Retirement Living said these are the top five best states for retirement in the country:

1. Wyoming
2. West Virginia
3. Florida
4. Montana
5. Delaware

What are the worst states to retire in US?

According to Retirement Living, these are the five worst states for retirement:

1. Hawaii
2. New York
3. Massachusetts
4. New Jersey
5. California

How did Retirement Living come up with its findings?

Retirement Living ranked all 50 states for retirees by analyzing each one on its quality of life, affordability and economic strength.

Retirement Living used the most recent data available from government data and industry experts, including the , the U.S. Census Bureau and Tax Foundation.