However, there are also downsides, such as the cold weather and limited access to certain amenities. The state’s economy is diverse, with a strong presence in agriculture, manufacturing, and healthcare. This diversity helps to mitigate the risk of economic downturns.

The study found that Minneapolis boasts a robust healthcare system with a high concentration of hospitals and specialists. This is further supported by the presence of renowned medical institutions like the Mayo Clinic and the University of Minnesota Medical Center. Furthermore, Minneapolis offers a vibrant cultural scene with a plethora of activities for seniors. From art galleries and museums to theaters and book clubs, there’s something for everyone.

Some downsides to Minnesota for retirees include its taxation. 401(k) and IRA withdrawals are taxable in the state, and Social Security benefits are partially taxable. If you love being active and enjoying outdoor activities, Minnesota might be a good fit for you. It’s called the “land of 10,000 lakes,” but it reportedly actually boasts close to 12,000 lakes. It also offers lots of cultural enjoyment, via state and country fairs and music festivals. Many retirees will decide, quite reasonably, to stay put. But if you’re thinking of relocating, consider living in your destination town for at least a few months first, to get a feel for it.