We know New Jersey is a great place to raise a family, but is it a good choice for retirement? WalletHub compared all 50 states across three key dimensions: 1) Affordability, 2) Quality of Life and 3) Health Care and well, let’s just say that you might want to consider Florida or even Montana for your golden years. All kidding aside, it’s no surprise that some of the top states on the list for best places to retire had lower costs of in-home services and a greater percentage of the workforce being 65 and older.
“Finding the best states to retire can be difficult without doing lots of research,” said the study authors. “Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses.”
The study said that while affordability is one of the biggest concerns of retirees, there are other things to also consider “like how safe the state is and how good its health care is (especially during the COVID-19 pandemic), as well as what activities it offers to keep retirees busy.”
And while New Jersey may have taken spot number 50 on the list, we still think it’s a pretty great place to work, live, raise a family and maybe even retire (unless, of course, you’ve got dreams of chaise lounges and shuffleboard in mind!).
The top 10 best places to retire according to the study:
- North Dakota
- New Hampshire
At the bottom 10:
- West Virginia
- Rhode Island
- New Mexico
- New York
- New Jersey
Hey, since we know both New York and New Jersey are both places for movers and shakers, we’re not surprised by the results. But from our farmer’s markets and wineries to our beaches and theaters, we think the Garden State has plenty to offer our awesome seniors. Plus, retiring in New Jersey offers one thing that Florida can’t for some people – close proximity to the grandkids!