Nevada ranks as 9th worst state to retire

The top three best places to retire according to to new rankings from

Maryland: Maryland is also not a great state for retirement as its cost of living ranks at number 47 overall.

Financial advisor Bankrate.com has named South Dakota the best state to retire in.

The bottom of the barrel for retirement was NY, according to Bankrate's findings.

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In South Dakota - one of the most tax-friendly states in the USA - residents pay no personal income tax, and the median rent for a 1-bedroom apartment is $565, according to data from Apartment List.

Analysts say people living in South Dakota are more satisfied with their lives than anyone else, enjoy low taxes, feel financially secure and enjoy a sense of community. Maryland had one of the highest costs of living, the survey found, and ranked 43rd in taxes.

In addition to NY, the bottom five states included New Mexico, Maryland, Louisiana and Arkansas. Weather was the only metric to hit the bottom rung of the ranking ladder.

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The study looked at a number of factors including cost of living, taxes, health care quality, weather, crime and senior well-being.

If retirement is in your near future, you may want to take note. It did pretty well in the crime and culture rankings, but cold winters and sky-high rents in places like New York City apparently make it an unappealing retirement spot.

Utah, Idaho, New Hampshire and Florida followed to round out the top five destinations for the 65-and-older crowd to settle down for their golden years. Arkansas was slightly worse than California.

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