FARGO-North Dakota is the fourth best state to retire early, a recent study conducted by HavenLife, a New York life insurance agency, says.


The study measures by three main factors: well-being, cost of living and health care quality.


The study states that North Dakota was ranked third in health care quality just behind Massachusetts and Minnesota.


North Dakota is also ranked 11th in the well-being factor and 24th in the cost of living category.

"At first glance, North Dakota might seem like an unlikely choice for retirees, but the state offers many benefits, including terrific health care, low crime rates, and low income and property taxes," the study says.


"Additionally, despite its small population of 755,393, North Dakota is ranked ninth for access to entertainment and recreational activities. Grand Forks is North Dakota's third-largest city with a population of around 55,000, and is a top choice among retirees. Grand Forks offers its residents a vibrant arts scene, miles of recreational trails for walking and cycling, as well as a lively downtown."


South Dakota ranked as the second-best state for early retirement. It ranks second in cost of living, ninth in the well-being category and 22nd in health care quality.


"While the weather is prone to extremes, South Dakota is one of the safest states for crime and offers myriad entertainment and cultural activities to choose from. Additionally, South Dakota does not have a state income tax and its prices of goods and services are 12 percent below the national average, making South Dakota one of the least expensive states."


To find out more about the methodology, you can find the study here.