PHOENIX — Arizona pitches itself as a great place to retire.
But an analysis of factors by WalletHub shows that, at least for retired veterans, the state is not the top spot to finally settle down. It isn’t even in the top 10.
The financial advice website rates Arizona No. 18 nationwide, with a host of negatives dragging down Arizona’s score.
For example, WalletHub looked at the number of veteran-owned businesses per 1,000 residents. Arizona did no better than 39.
The state has fewer hospitals per capita than almost anywhere else.
And when it came to arts, recreation and leisure establishments, the state came in No. 48, even when factored for population.
Jill Gonzalez, a WalletHub staffer, said there’s something else that’s of particular concern: job opportunities.
“The average officer is only about 47 years old upon retirement,” she said.
“So living off that pension really is unlikely, more so that working until you’re in your 60s,” Gonzalez continued. “People still might be looking for jobs after retirement.”
To come up with a ranking, WalletHub looked at the unemployment rate for veterans versus the number of jobs for which they would qualify. That put North Dakota and Vermont at the top of the list.
Arizona came in at No. 34.
That ranking came despite the fact WalletHub figures that, on a per-capita basis, Arizona gets $1,724 annually in defense contracts, a figure that is bested by only five other states.
There are factors where Arizona did better than average, starting with what might be called the “sunshine factor.” WalletHub rated the weather here the third-best in the nation.
The state’s income tax rate on military pensions is also slightly better than a majority of the states.
Arizona also came in No. 23 in terms of the number of homeless veterans, at 16 per 1,000 veterans.
One interesting set of figures relates to the Veterans Administration facilities in the state.
WalletHub also chose to look at the number of patients willing to recommend the VA hospitals in their home state. The figures it had put Arizona at No. 12.
But Gonzalez acknowledged these came from a survey done by the U.S. Department of Veterans Affairs. And the most recent version of that survey was done in 2012, long before the national stories that broke about waiting times at the VA hospital in Phoenix.
Even at that, though, Gonzalez noted that Arizona ranks No. 13 in terms of the number of VA facilities per veteran.
To see the full study, go to http://wallethub.com/edu/best-states-for-military-retirees/3915/
