WalletHub: N.J. is one of the worst states to retire

What should you consider when retirement is on the horizon? If your planning to stay in New Jersey, or go elsewhere, where you decide to settle down could dramatically change your financial security or life satisfaction, according to a new list by WalletHub.

The financial watchdog site released its 2019’s Best States to Retire list on Monday and (unsurprising to most) New Jersey ranked among the worst states to retire.

WalletHub determined its rankings in three “retirement friendliness” categories: affordability, health-related factors and overall quality of life, taking into account things such as cost of living, tax-friendliness, risk of social isolation, mildness of weather, quality of health care and more.

New Jersey came in as the 46th worst state to retire, followed only by Vermont (47), West Virginia (48), Rhode Island (49) and Kentucky (50).

Source: WalletHub

New Jersey ranked No. 45 in the affordability category, No. 33 in the quality of life category and No. 29 in the health care category.

The Top 10 states to retire, according to WalletHub:

  1. Florida
  2. South Dakota
  3. Colorado
  4. New Hampshire
  5. Virginia
  6. Utah
  7. Iowa
  8. Wyoming
  9. Pennsylvania
  10. Minnesota

To see the full report and methodology, click here.