WalletHub: New Jersey ranked 4th worst state to retire in

NEW JERSEY – A new study ranked New Jersey as the 4th worst state to retire in.

WalletHub released their 2020’s best states to retire in on Monday.

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

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

The worst state to retire in was Kentucky (50) followed by New Mexico (49), Rhode Island (48), New Jersey (47) and West Virginia (46).

Here are the top 5 best states to retire in:

1. Florida
2. Colorado
3. New Hampshire
4. Utah
5. Wyoming

To see the full list, click here.

Source: WalletHub

To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 47 key metrics. The data set ranges from adjusted cost of living to weather to quality of public hospitals.

In order to identify the most retirement-friendly states, WalletHub compared the 50 states across three key dimensions: 1) Affordability, 2) Quality of Life and 3) Health Care.