Minnesota Tops AARP List of Best States to Retire In

AARP, a nonprofit, nonpartisan organization that advocates for the elderly, has ranked Minnesota first in its list of the best states to live or retire in.

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AARP’s annual long-term services and supports (LTSS) scorecard aims to measure the performance of LTSS in five categories: affordability and access, choice of setting and provider, quality of life and quality of care, support for family caregivers, and effective transitions.

Minnesota was the only state to have scored in the top quartile for all five categories. It also ranked first in two categories: quality of life and care and choice of setting and provider.

Minnesota’s suitability as a retirement location has not gone unnoticed. The state is predicted to experience a sizable shift in demographics from 2020 to 2030. According to the Minnesota Metropolitan Council, in that 10-year period, for every one person of “working age” added to the Twin Cities’ population, there will be 21 people added to the retired group.

Although retirees have traditionally flocked to warmer states like Florida, Minnesota’s friendly citizens, beautiful scenery, and year-round outdoor and cultural activities, as well as the availability of senior services, have made Minnesota a popular retirement destination in recent years. It is also a favorite among investors and private developers eager to address the need for housing before the demand truly sets in.

Image source: states.aarp.org

Headed by Steve Liefschultz, Equity Bank is a locally-owned and managed financial firm that addresses the needs of real estate, agricultural, and business clients in the Minnetonka and Claremont areas. For more local real estate news and updates, follow this Twitter account.

Federal Reserve Bank Of Minneapolis Appoints New Bank Director

Image source: www.federalreserveeducation.org

The Federal Reserve Bank of Minneapolis recently announced the appointment of Harry Melander, the president of the Minnesota Building and Construction Trades Council, as a new member of its board of directors.

Selected as a new Class C member under a three-year term, Melander will replace Pentair CEO Randy Hogan, who is retiring from the board this year. Joining him as new Class A and B directors, respectively, are MayKao Y. Hang, the chairwoman of the board and CEO of the Wilder Foundation, and Ken Powell, the deputy chairman and CEO of General Mills.

The Class C group of directors is appointed by the Federal Reserve Bank System’s Board of Governors in Washington while member banks elect the Class A and B directors. Both Class B and C directors shall supervise the hiring of Federal Reserve Bank presidents.

Image source: blogs.mtu.edu

With over 25 years of experience representing unions in the construction industry, Melander, who also serves as vice chair of the Metropolitan Council, is one of only a few union leaders nationwide serving as a Federal Reserve Bank director. As a new board member, his responsibilities range from overseeing the general operations of the Minneapolis Fed to reporting on district economic conditions.

Located in Minneapolis, Minnesota, the Federal Reserve Bank of Minneapolis covers the 9th District of the Federal Reserve, including Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan.

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