Is New York the Worst State to Retire In?
Retirement might be the end of your career, but it doesn’t have to be the end of financial security or life satisfaction. Retirement generally coincides with the age at which we may receive Social Security or pension benefits.
But in addition to when to retire, a good question to ask is where. Finding the best states to retire can be difficult without doing lots of research. 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.
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 York was ranked as the 9th worst state to retire in. Here is the breakdown:
Retiring in New York
- 46th – Adjusted Cost of Living
- 31st – Annual Cost of In-Home Services
- 47th – WalletHub ‘Taxpayer’ Ranking
- 35th – Elderly-Friendly Labor Market
- 26th – % of Population Aged 65 & Older
- 37th – Health-Care Facilities per Capita
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