Florida Ranked Best State For Military Retirees

CORAL GABLES, FL — Florida topped the list of the best U.S. states for military retirees, according to a new study by personal finance website Wallethub. The findings were based on 27 key metrics, ranging from veterans per capita to number of VA health facilities and job opportunities for veterans. Florida edged out Virginia, New Hampshire, Alabama and South Carolina to take top honors.

"Retirement is typically viewed as the end of the line — a time for rest, relaxation and the pursuit of interests long ago put on the back burner," said Wallethub in releasing its findings on Monday. "But the story is far different for military retirees who must deal with the trials of re-assimilation into civilian life."

Wallethub noted that the average retirement age for military officers is only 45 — 42 for nondisability enlisted personnel.

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The Sunshine State ranked 11th in the number of veterans per capita, sixth in the number of VA health facilities per number of veterans, 12th in job opportunities for veterans, sixth in the number of VA Benefits Administration facilities per number of veterans and ninth in tax friendliness.

"Many of those who reenter the job market face tough challenges during the transition while others struggle with more difficult problems, such as Posttraumatic Stress Disorder, disability and homelessness," according to Wallethub.

"As such, military retirement can be a far more complicated issue than one might assume, given the extent to which state tax policies on military benefits vary, the relative friendliness of different job markets toward veterans and other socioeconomic factors," Wallethub said. "This year, the military’s retirement system is also changing for new recruits and current personnel who opt in, going from a 'defined benefit' to a 'Blended Retirement System' that awards funds not just based on years served but also matches contributions to a 'Thrift Savings Plan.'

Washington, D.C. ranked as the worst place for military retirees along with Oregon, Vermont, Nevada, New Mexico and New York.

Click here to read more on the findings.

Photo by Paul Scicchitano