The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, with more than 3 in 10 Americans feeling anxious about retirement, the personal-finance website WalletHub today released its report on 2024’s Best & Worst States to Retire, as well as its 2024 Retirement Savings Survey.
Continue reading New Jersey Rated 2024’s 2nd Worst State to Retire In
file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, a new WalletHub Study rates New Jersey the worst place to retire. With 27% of all nonretired adults having no retirement savings, the personal-finance website WalletHub today released its report on 2022’s Best States to Retire.
Continue reading WalletHub Study : New Jersey Is 2022’s Worst State to Retire
file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, with 26 percent of all nonretired adults having no retirement savings or pension and a quarter of Americans expecting to delay their retirement due to the economic impact of COVID-19, the personal-finance website WalletHub today released its report on 2021’s Best States to Retire, as well as accompanying videos.
Continue reading New Jersey Is 2021’s Worst State to Retire In
the staff of the Ridgewood blog
Ridgewood NJ, With 26 percent of all nonretired adults having no retirement savings or pension, the personal-finance website WalletHub today released its report on 2020’s Best States to Retire as well as accompanying videos.
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.
New Jersey Is 2020’s 4th Worst State to Retire.
Continue reading New Jersey Is 2020’s 4th Worst State to Retire
Rick Pendykoski is the owner of Self Directed Retirement Plans LLC
Saving for retirement is a critical part of financial planning. It helps you ensure that you will be comfortable and secure after retiring from work. But simply putting money away isn’t enough. It’s also important to understand how to maximize your savings so they last you through the golden years.
Most people use either a 401(k) or IRA to invest their retirement savings and help them grow. Let’s look at 401(k) vs IRA in more detail, so you can choose which one fits your
Continue reading Retirement Planning: Should You Put Money Into a 401k or IRA?
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the staff of the Ridgewood blog
Ridgewood Nj, New Jersey has been ranked the 9th-worst state to retire, according to a Bankrate.com report.
Bankrate.com determined the rankings by examining 11 public and private datasets related to the life of someone who is retired, broken down into five categories: affordability (40%), wellness (25%), weather (15%), culture (15%) and crime (5%).
Continue reading New Jersey is Not the Place You Want to Retire
file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, according to PHILADELPHIA (CBS) , The Jersey Shore may be a favorite spot to vacation, but New Jersey is according to a new study one of the worst states to retire in, while neighbors Pennsylvania and Delaware are among the best.
A new study from WalletHub found that New Jersey ranked 46th in the United States for retirees. Pennsylvania cracked the top 10 at No. 9 while Delaware just missed the cut at No. 11. WalletHub used three main indicators for the study: affordability, quality of life and healthcare.
Continue reading New Jersey Ranked as One of the Worst States to Retire In
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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/
Published: May 13, 2017 11:33 a.m. ET
If there’s one financial task that causes many of us to stick our heads in the sand, it’s taxes.
Planning ahead to reduce a tax bill is not most people’s idea of a fun time. But for those on a fixed income, keeping taxes low is one of the key ways to reduce retirement expenses. And for people who plan to relocate when they retire, it’s crucial they understand the tax implications of that move.
For example, if you’re keeping an eye on your retirement expenses, you probably should rethink any plans to move from Nevada—which levies no individual income tax—to New Mexico, which taxes Social Security benefits and, to some degree, income from pensions and retirement accounts, according to an analysis by Wolters Kluwer Tax & Accounting, a research and software company. (Keep in mind that states frequently change their tax laws.)
file photo by Boyd Loving
2016’s Best and Worst States to Retire
by Richie Bernardo
Retirement might be the end of the line, but it doesn’t have to be the end of financial security or life satisfaction. For many of us, our primary concern with retirement is timing, which often coincides with the age at which we become eligible to receive Social Security or pension benefits. Hopefully the choice will be ours and not dictated by our circumstances — the unfortunate case for nearly a third of nonretirees who haven’t put away a single penny for retirement, though not necessarily through any fault of their own.
But in addition to when you want to retire, you might want to ask yourself where. That can be an awfully difficult question to answer if you haven’t adequately planned — or been able to plan — for the rest of your life. Even in the most affordable areas of the U.S., retirees often cannot rely on their Social Security or pension checks alone to cover all of their living expenses. Social Security benefitsincrease progressively with local inflation, but they replace only about 40 percent of the amount you earned if you were an average worker, according to the Center on Budget and Policy Priorities.
https://wallethub.com/edu/best-and-worst-states-to-retire/18592/
