Iowa ranked as the No. 9 best state in which to retire, according to a ranking from financial news publisher Bankrate.

 

Bankrate ranked all 50 states according to factors such as their cost of living, crime rate, health care quality, personal well-being, and weather. Bankrate used information from the Gallup-Healthways Well-Being Index.

 

Iowa was helped by having the 10th-lowest cost of living, the sixth-highest health care quality, the 16th-lowest violent crime rate and 10th-lowest property crime rate.

 

South Dakota was No. 1 on the list and Colorado was No. 2. Utah, North Dakota, Wyoming, Nebraska, Montana and Idaho are the other states that placed ahead of Iowa.

 

But, the better question might be whether you will actually get a chance to retire, according to this article on Yahoo Finance. The article, citing a recent blog post written by David Marotta, president of Marotta Wealth Management in Charlottesville, Va., asserts that a 20-year-old today will need more than $7 million to have the same lifestyle when they retire.

 

That means those young people would need to start out at age 25 with a salary of $50,000, and would need to save about 14.65 percent of their salary throughout their careers. Notable, though, is that the math assumes an average inflation rate over the next 45 years of 4.5 percent, and the current inflation rate is 1.5 percent.

 

Experts in Central Iowa, though, warned in a recent Business Record article that scare tactics aren't the best motivation to get your employees to start planning for retirement.

 

The better tactic is to get them to just start saving something.