OKLAHOMA CITY (KFOR) – Retirement might be a goal for most Americans, but a new report suggests that many workers are not prepared to quit their careers.

According to the Federal Reserve, most non-retired Americans have some type of retirement savings, but only 36% feel like their retirement savings are on track.

However, 27% of non-retired adults say they haven’t saved any money for retirement.

When it comes to the right time to retire, experts say you should also consider locations where your money can go farthest.

“People too often move somewhere based on their health status and preferences at the time that they retire. But it is worth remembering that at the beginning of retirement health is at its best, but it can decline. Retiring to a living situation that will be manageable should health decline – i.e., locations like grocery stores and pharmacies are nearby, master bedrooms are on the first floor, a relative or friend is nearby for assistance – is important. It is also a money saver – if you are somewhere you can live for the long-term, you do not need to go through a process of selling and buying a new home that might be rushed. The good thing is that all states have these sorts of locations within them,” said Boston College Associate Professor Geoffrey Sanzenbacher, Ph.D.

WalletHub recently released its “Best States to Retire” list for 2022 by comparing the 50 states across 47 key indicators.

Researchers looked at affordability, health-related factors, and overall quality of life.

According to the study, the top places to retire included:

  1. Florida
  2. Virginia
  3. Colorado
  4. Delaware
  5. Minnesota.

Oklahoma ranked 46th overall on the list, making it one of the worst states in the country to retire.

The Sooner State ranked 21st for affordability, and 44th for quality of life and health care.

“​Retirees need to consider how close they are to the family. While retiring to a warm, sunny climate has a lot of appeals, being an eight-hour car ride or even plane flight from close family members can be difficult emotionally, financially, and socially for retirees. Retirees also need to consider the cost of living including tax codes. Property tax varies widely by locality. Cost of living includes local access to doctors who accept Medicare and are taking new patients,” Longwood University Associate Professor JoEllen Pederson.