ORLANDO, Fla. – For many people, a Florida retirement means warm year-round weather and no shoveling snow. But retirement living is a big decision. It’s not paradise if you run out of money. A state with good healthcare might have a high cost of living and high taxes. A state with affordable housing may have limited access to hospitals.

To determine which U.S. state was best overall for retirees, WalletHub weighed 45 variables, including affordability, quality of life and healthcare. Florida wasn’t the No. 1 state in many categories, but the study determined that Florida, overall, was the No. 1 U.S. state for retirees considering a move.

According to WalletHub, cost is a major concern for many retirees, and “Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses.”

But safety and healthcare also weigh heavily in relocation decisions.

WalletHub’s advice: “If retirement is still a big question mark for you because of finances, consider relocating to a state that lets you keep more money in your pocket without requiring a drastic lifestyle change.”

To determine the best places to retire, WalletHub compared the 50 U.S. states based on those 45 key indicators and came up with a score for retirement-friendliness.

In the analysis, No. 1 Florida had a total score of 61.09 compared to second-place Colorado. For affordability, Florida ranked fourth; for quality of life it ranked sixth; for healthcare, it raked 28th.

Colorado had a 60.94 overall score, but it ranked 13th in affordability and 16th in quality of life. It beat Florida only under healthcare at fifth.

New York and New Jersey hugged the bottom positions, with scores of 41.86 and 37.41, respectively. New York ranked 49th in affordability, 17th in quality of life, and 27th in healthcare. No. 50 New Jersey ranked 50th in affordability, 35th in quality of life, and 33rd in healthcare.