New Jersey Is One Of The Worst States To Retire In

If you were dreaming of a comfortable retirement in the Garden State, you may want to start adjusting your plans.

According to a report at kiplinger.com, New Jersey is among the worst places to retire in America. Want some good news? Ok, we're not THE worst. Here's the bad news. We ARE the second worst.

The report studied all states in the nation in 2016 to determine how they ranked for retirement, and New Jersey was the second worst. New York was the only state that ranked worse.

So what were the reasons for the bad ranking? Let's start with a cost of living in New Jersey that is 22% above the average in the nation. And then there's the fact that the Garden State is considered "least tax friendly" for retirees.

And of course, our combination of local and state taxes are second worst in America and our cost of living ranks at 4th worst. We live it every day, so none of this surprises us, but every once in a while, a reminder of these rankings shakes us back into the reality of just how challenging finances in New Jersey can be.

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