WalletHub study shows Connecticut among worst states for military retirees

All military personnel face tough challenges when readjusting to civilian life upon retirement, which, for the average officer, happens at age 47, according to personal-finance website WalletHub. In conjunction with Military Appreciation Month, the website released its report on 2016’s Best & Worst States for Military Retirees.

To help ease the burden of retirement planning for our former military personnel, WalletHub’s analysts compared the 50 states and the District of Columbia across 20 key metrics — ranging from job opportunities for veterans to number of VA health facilities per number of veterans — that collectively speak to the economic environment, health care services and overall quality of life in each area.

Best States for Military Retirees Worst States for Military Retirees
1 Alaska 42 Arkansas
2 South Dakota 43 Nevada
3 Montana 44 New York
4 Wyoming 45 Utah
5 Florida 46 Connecticut
6 Maine 47 District of Columbia
7 New Hampshire 48 Indiana
8 North Dakota 49 Oregon
9 Hawaii 50 New Jersey
10 South Carolina 51 Rhode Island

Comparing the Best & Worst

  • Alaska has the highest percentage of veterans, 10.1 percent, which is more than two times higher than in New York, where it is lowest, 4.6 percent.  
  • Virginia has the lowest percentage of homeless veterans out of total veterans, 0.08 percent, which is nearly 18 times lower than in the District of Columbia, where it is highest, 1.37 percent.
  • New York has the highest number of VA health facilities per number of veterans, which is nearly eight times higher than in Rhode Island, where it is lowest.
  • Alaska has the highest number of VA benefits-administration facilities per number of veterans, which is 24 times higher than in Michigan, where it is lowest.
  • Maine has the highest percentage of the population aged 40 and older, 54.6 percent, which is more than 1.5 times higher than in Utah, where it is lowest, 35.1 percent.
  • South Carolina has the highest percentage of veteran-owned businesses with paid employees, 12.4 percent, which is more than two times higher than in New York, where it is lowest, 5.7 percent.

For the full report and to see where your state ranks, visit:

https://wallethub.com/edu/best-states-for-military-retirees/3915/

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