Maine ranked one of the best states for military retirees

Richard R. Shaw | BDN

Leading off the Pearl Harbor Day ceremony held Dec. 7, 2013 in Bangor, members of a Veterans of Foreign Wars color guard march across the footbridge spanning the Kenduskeag Stream between Exchange Street and Pickering Square. Marking the 72nd anniversary of the 1941 Japanese naval attack on Pearl Harbor, the ceremony attracted some 100 area residents.

By Pattie Reaves, BDN Staff • August 12, 2015 1:55 pm
Updated: August 14, 2015 7:20 am

For service members, Maine might not be such a bad place to retire.

When considering the state’s economic environment, quality of life and access to health care, Maine ranked fourth on Wallethub.com’s 2015 Best State for Military Retirees list.

According to WalletHub’s rankings, Maine placed exceptionally high for the most veterans per 100 inhabitants (third place), the lowest percent of homeless veterans per number of veterans (fifth place) and the most veteran-owned businesses per 1,000 inhabitants (second place).

Wallethub.com, a personal finance website that often writes rankings like these, described the study’s methodology as “bearing in mind the needs and benefits unique to former military personnel.”

After Wallethub published this list at the end of May, the Maine Legislature passed a budget in June exempting military pensions from taxes, a plan expected to save Maine’s 8,000 veterans about $9.6 million per year.

For more information on the methodology, and to see how other states ranked, visit Wallethub’s website.