NEW YORK (TheStreet) -- Ready to hit the golden years and looking for the best states to retire that help you preserve and grow your nest egg? Well, don't head to Florida.
Instead, you may want to check out Wisconsin, Idaho and Arkansas to name a few such states, according to a recently released list by GOBankingRates.
"With this study, we wanted to take a comprehensive look at the costs that affect those in retirement and find the states that will offer low-cost of living and the opportunity to grow wealth. Our study considered key cost factors for retirees that similar state-by-state studies have failed to consider," said Elyssa Kirkham, editor with GOBankingRate.
Here's a look at the 10 top states that offer retirees the best bang for their buck and help them retire with more money in the bank based on three main criteria: Taxes to be paid, daily living costs and healthcare.
No. 10 Arkansas
Arkansas has an abundance of recreational areas, but not taxes. The state doesn't ding its residents and seniors with Social Security income tax, nor estate or inheritance taxes. However, Arkansas' combined sales tax the second highest in the nation at roughly 9%. As for healthcare costs, individual insurance premiums are fairly cheap, averaging $184 per month. Medicare coverage is also "decent."
The state, unfortunately, has fewer dentists per capita than other states. The daily living costs are fairly forgiving, with Arkansas' average home listing price one of the lowest in the nation at $211,000.