photo by ArtChick

January 20,2018

the staff of the Ridgewood blog

Ridgewood NJ, some bad new for New Jersey retirees according to a WalletHub Study, “Best & Worst States to Retire ” New jersey ranked 2nd worst. With almost 30 percent of all nonretired adults having no retirement savings or pension, the personal-finance website WalletHub today released its report on 2018’s Best & Worst States to Retire.

To help retirees find a safe, enjoyable and wallet-friendly place to call home, WalletHub compared the 50 states across 41 key metrics. The data set ranges from adjusted cost of living to weather to quality of public hospitals.

The 5 Best States to Retire
1 Florida
2 Colorado
3 South Dakota
4 Iowa
5 Virginia

The 5 Worst States to Retire

45 West Virginia
46 Arkansas
47 Mississippi
48 Rhode Island
49 New Jersey
50 Kentucky

Best vs. Worst

Mississippi has the lowest adjusted cost-of-living index for retirees, 84.91, which is 2.2 times lower than in Hawaii, where it is highest at 185.73.

Louisiana has the lowest median annual cost of elderly housekeeping, $34,320, which is 1.9 times lower than in North Dakota, where it is highest at $63,972.

Alaska has the highest share of the population aged 65 and older still working, 23.01 percent, which is 1.8 times higher than in West Virginia, where it is lowest at 12.56 percent.

Florida has the highest share of the population aged 65 and older, 19.1 percent, which is two times higher than in Alaska, where it is lowest at 9.4 percent.

To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/best-and-worst-states-to-retire/18592/