You've worked your entire life, trying to save every penny and dollar possible so you can retire comfortably — an incredibly difficult task in New Jersey where taxes are high and everything is expensive.

However, when you're in your 60s, you'll have to answer this question: should you retire in New Jersey?

The short answer, apparently: no #$*@&!% way.

WalletHub has released it's "Best and Worst States to Retire" study and the Garden State, well, tanked.


Their research took these topics into account:

  • Affordability (cost of living and tax benefits)
  • Quality of life (weather and number of people over the age of 65)
  • Healthcare (availability of doctors, quality of hospitals, etc.)

Last year, Virginia took the top spot from Florida. This year, the Sunshine State returns to the top of the hill.

Top 5 States

Currently, these are the top five states where you should be looking when you retire:

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

Certainly, an eclectic mix of states.

Florida - Photo: Google Maps

Florida, obviously offers terrific weather (except for the occasional hurricane) and Colorado has some beautiful mountain landscapes. Virginia is nice, whether you want the hustle and bustle of living near DC or a slower lifestyle in the mountains.

If the wild, wild west is calling, head out to Wyoming...

Outside Gillette, Wyoming
Outside Gillette, Wyoming - Photo: Google Maps

...or maybe Delaware is close enough to New Jersey.

What About New Jersey?

So where did New Jersey rank?

Out of 50 states, the Garden State is #49.

Only Kentucky is a worse place to retire.

Crab Orchard, Kentucky
Crab Orchard, Kentucky - Photo: Google Maps


The Bottom 5

According to WalletHub, here are the five worst states for retirement:

  • 46. Oklahoma
  • 47. Rhode Island
  • 48. Mississippi
  • 49. New Jersey
  • 50. Kentucky

As always, if you are getting ready to retire, you should always speak to a financial advisor or retirement expert and not make a decision based on a single survey.

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