Arizona is only the 29th "best state to retire in," according to a new survey by Bankrate. The consumer financial services company ranked cost of living, crime, culture, health-care quality, taxes, weather, and "well being." No 1? That would be South Dakota, followed by Utah, Idaho, New Hampshire, and Florida. The Grand Canyon State didn't even make the top 10 in weather.
If this is true, it's bad news for the retirement industry, which has been a lynchpin of the state's economy since Del Webb began Sun City in 1959. Social Security payments accounted for an astounding $1.4 trillion for nearly a million retirees in Arizona as of last year alone — not to mention the savings and other assets they bring from back home.
The survey is highly suspect, of course. South Dakota is a fascinating place, with Mount Rushmore and Deadwood, but between immense snowfall and isolation and being downwind from the ICBM fields of North Dakota should World War III erupt, it doesn't sound like the best place to spend one's sunset years.
Because of savage cuts that have destroyed 40 percent of newsroom jobs over the past decade, PR people now outnumber reporters by 5-1 or more. Every day at the Seattle Times, I get scores of pitches. Many are click bait such as this. I rely on more gold-standard information, such as that from the Federal Reserve, universities or authentic think tanks.
But that doesn't mean Arizona is quite out of the woods on retirement desirability.