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WalletHub: New Jersey is 2024’s 2nd worst state to retire

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.):

    • 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
  1. Florida
  2. Colorado
  3. Virginia
  4. Delaware
  5. Wyoming

Here are the top 5 worst states to retire:

  1. Kentucky
  2. New Jersey
  3. Mississippi
  4. Rhode Island
  5. Oklahoma

For the full report, click here.

Retirement Savings Survey

    • 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.

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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