NEW JERSEY – New Jersey is 2024’s 2nd worst state to retire, according to a study done by WalletHub.
With more than 3 in 10 Americans feeling anxious about retirement, the personal-finance website WalletHub Tuesday released its report on 2024’s Best & Worst States to Retire, as well as its 2024 Retirement Savings Survey.
To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 46 key metrics. Their analysis examines affordability, health-related factors and overall quality of life.
Retiring in New Jersey (1=Best; 25=Avg.):
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- Overall Rank for New Jersey: 49th
- 37th – Adjusted Cost of Living
- 31st – Annual Cost of In-Home Services
- 42nd – WalletHub ‘Taxpayer’ Ranking
- 34th – Elderly-Friendly Labor Market
- 30th – % of Population Aged 65 & Older
- 45th – Health-Care Facilities per Capita
Source: WalletHub
Here are the top 5 best states to retire
- Florida
- Colorado
- Virginia
- Delaware
- Wyoming
Here are the top 5 worst states to retire:
- Kentucky
- New Jersey
- Mississippi
- Rhode Island
- Oklahoma
For the full report, click here.
Retirement Savings Survey
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- Americans worry about retirement. More than 3 in 10 people feel anxious when thinking about retirement.
- Too many people lack a plan. More than 1 in 3 Americans don’t have a retirement plan.
- Nearly half the nation lacks confidence. 46% of Americans are not confident they will have enough money to retire.
- Many people may never retire. 39% of people say they expect to work until they die.
- Debt takes precedence. More than 3 in 5 Americans think paying off debt is more important than making retirement contributions.
- Many people are obsessed with retirement. 31% of people think about retirement all the time.
