These 5 states give US retirees the best shot at long-term retirement success and security, according to a new study — does your state make the list?

The study highlights the top five states for financial readiness, explains why they scored so highly, and offers insight into what retirees should weigh when deciding where to live.

Top 5 states to set older Americans up for success in retirement

Below are the five states that scored highest in the study — and why each one stands out for retirees looking to make their money last.

5. Illinois

• Retirement Score: 6.43

The state doesn’t top the charts in any single category, but it performs solidly across the board — retirement income, savings, and homeownership rates are all close to national averages. What helps Illinois stand out is its relatively affordable housing market compared with coastal states, which can make fixed retirement budgets stretch further.

Still, the state’s higher overall tax burden can offset some of those gains, making Illinois best suited for retirees who value stability over extremes.

4. Minnesota

• Retirement Score: 6.48.

A higher-than-average household income helps residents build stronger retirement savings than many of their peers, while homeownership rates remain robust. That financial foundation gives Minnesota retirees a solid cushion, though the state’s higher cost of living can erode some of those advantages. For retirees who have already built up a healthy nest egg, Minnesota offers a stable environment, but it may be less attractive for those who need to make every dollar stretch.

3. Connecticut

• Retirement Score: 6.53

Connecticut, at No. 3, has the highest average retirement savings. And retirees with an adjusted gross income (AGI) of less than $75,000 are partially exempt from taxes on Social Security. (2)

Connecticut is also one of 10 states with active state-sponsored retirement plans, which can make it easier to contribute to savings (since it’s automatic). Many other states are considering retirement mandates. (3)

But if you live in Alabama, Florida, Montana, South Dakota or Texas, you’re out of luck — no steps have been taken toward state-sponsored retirement mandates at this point.

2. Virginia

• Retirement Score: 7.20

Virginia, which came in at No. 2, has a high median household income of $89,931, which could explain why Virginians have more retirement savings than many other Americans — averaging $492,965, the sixth-highest amount in the country. (4)

1. Delaware

• Retirement Score: 7.45

According to Caring.com’s study, Delaware is the state that sets people up for the most success in retirement. This is because in Delaware, the average retirement income is eighth-highest in the country (at $31,300 per household). While it’s not the highest, residents have a relatively lower cost of living than many other states, spending on average 16% less on groceries than Colorado and California.

But the state has other perks for seniors: their Social Security retirement benefit isn’t taxed and there’s no shopping tax, either. And, with certain retirement plans like 401(k)s, residents aged 60+ can deduct up to $12,500 from their taxable income. That means they can hold onto more of their money. (5)

Other factors to consider

Of course, the top five aren’t the only states worth considering. Your personal priorities — from affordability to health care — could matter even more than a high rank in one study.

Cost of living: While retirees in Connecticut might have a larger-than-average nest egg, they still fall short of what they need in retirement by 35%, according to the Caring.com study. In part, that’s because the state has a higher cost of living, including the cost of health care. (6)

In states that have a lower cost of living — for housing, health care, transportation and food — seniors can stretch their dollar further.

When that’s taken into consideration, West Virginia is considered the most affordable state because of its low property costs and lower-than-average costs for groceries and utilities, which allow retirees to live comfortably on $58,190 a year. Trailing behind West Virginia is Oklahoma and Kansas. (7)

Homeownership: The Caring.com study focuses on monetary assets rather than physical assets like property. But, if you pay off your mortgage before you retire, you’ll have fewer fixed costs in your golden years — especially if you live in a state that provides property tax relief for seniors.

Almost four in five West Virginians (79.1%) own their homes, followed by Mississippi (75.8%) and Delaware (75.1%), according to Caring.com. While Delaware was the top state for setting up retirees for success, West Virginia and Mississippi didn’t crack the top 10 — so while homeownership is important, it’s not the only factor for a successful retirement. (8)