Determining where you'll spend what will hopefully be some of the most peaceful years of your life is not an easy decision.

Personal finance website WalletHub has come to the rescue with a new analysis rating the best and worst states in the United States for retirees based on characteristics such as cost, quality of life, and health-care access and availability. While some of the most picturesque places on the list, such as warm Florida and mountains Colorado, are at the top of the list, the bottom of the list includes two of the most populous states in the northeast: Massachusetts and New Hampshire.

As determined by WalletHub, New Jersey is the worst state in the United States for retirement. It's followed by Mississippi and New York on the list. Money considerations play a significant role in those low rankings, with New York rating as the least inexpensive state and New Jersey ranking close behind it, whilst Mississippi falls at the bottom of the quality of life rankings, according to WalletHub, which evaluates the states.

The fact that money is such a crucial aspect when picking the ideal spot to spend your retirement years should come as no surprise. After all, according to a Federal Reserve research published in 2021, 26 percent of non-retirees have no retirement plan at all.

Despite this, the average household in the United States has around $400,000 in liquid assets. In areas such as Connecticut, where the typical person has a retirement account worth around $520,000, this figure is much greater.

Others, on the other hand, are not as well-prepared to leave the employment, which is why cost is one of the most important elements to consider while looking for a place to call home. In fact, Florida and Virginia, the two most affordable states in the United States according to WalletHub's rankings, are both within the top ten most affordable states in the country.

Check out WalletHub's list of the top 10 best states for retirement to ensure that you get the most out of your retirement years:

1. The state of Florida

Rank in terms of affordability: 4.
5 out of 10 for overall quality of life
Rank in the healthcare industry: 27

2. The state of Virginia

Rank in terms of affordability: 9.
Rank in terms of overall quality of life: 7.
Rank in the healthcare industry: 13

3. The state of Colorado

Rank in terms of affordability: 11
Rank of life satisfaction: 21
4th place in the healthcare category

4. The state of Delaware

Rank 6 in terms of affordability
Rank of life satisfaction: 35
Rank in the healthcare field: 15

5. The state of Minnesota

Rank in terms of affordability: 36
3rd place in terms of overall quality of life
1st place in the healthcare field

6. The state of North Dakota

Rank in terms of affordability: 25
16th place in terms of overall quality of life
Rank in the healthcare field: 16

Montana is number seven on the list.

Rank in terms of affordability: 14.
Rank in terms of overall quality of life: 18.
Rank in the healthcare industry: 31

8. Utah

Rank in terms of affordability: 19
20th place in terms of overall quality of life
Rank in the healthcare industry: 26

Arizona is tied at nine points.

Rank in terms of affordability: 15
32nd place in terms of overall quality of life
24th in the field of healthcare

New Hampshire is tied for ninth place.

Rank in terms of affordability: 34
Rank 2 in terms of overall quality of life
Rank in the healthcare industry: 8