Minnesota Ranked As 4th Worst Place To Retire Early

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MINNEAPOLIS (WCCO) -- Minnesotans looking to retire in the bold north may want to explore other options.

According to a new study, Minnesota ranked fourth among the worst states for people planning to retire early.

The study reviewed data from the U.S Census Bureau, the Centers for Medicare & Medicaid Services and the Journal of the American Medical Association, among others.

Each state's ranking was determined by average life expectancy, income, housing costs, income tax rates, insurance tax rates, insurance premiums, consumer spending and average temperatures.

Here's how Minnesota ranked:

• Median household income: $70,315
• Average health insurance premium: $279 (No. 3 highest in the country)
• Median monthly housing cost: $1,091
• Average temperature: 40.6 (No. 3 lowest in the country)
• Median life expectancy from birth: 80.8 (No. 3 highest in the country)

The study found the 5 best states to retire early were: Texas, South Dakota, Florida, Nevada and Wyoming.

According to the study, the worst state to retire in is West Virginia.