News Department

WalletHub: New Jersey is 2023’s 2nd worst state to retire

NEW JERSEY – New Jersey is 2023’s 2nd worst state to retire, according to a study done by WalletHub.

With 25% of all nonretired adults having no retirement savings, the personal-finance website WalletHub Monday released its report on 2023’s Best States to Retire.

To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 47 key metrics. Our analysis examines affordability, health-related factors and overall quality of life.

Retiring in New Jersey (1=Best; 25=Avg.):

  • 38th – Adjusted Cost of Living
  • 31st – Annual Cost of In-Home Services
  • 41st – WalletHub ‘Taxpayer’ Ranking
  • 37th – Elderly-Friendly Labor Market
  • 30th – % of Population Aged 65 & Older
  • 46th – Health-Care Facilities per Capita

Source: WalletHub
Here are the top 5 best states to retire
  1. Virginia
  2. Florida
  3. Colorado
  4. Wyoming
  5. Delaware

Here are the top 5 worst states to retire:

  1. Kentucky
  2. New Jersey
  3. Mississippi
  4. Oklahoma
  5. New York

For the full report, click here.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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