When it comes time to retire, most people seem to jump at the chance to get out of New York. In a shocking twist, New York was not named the worst state to retire.

Retirement seems like a thing that is harder to think is really going to happen the older I get. Will I actually be able to retire? Or will I be working until I die? Roughly 26 percent of all nonretired adults don' have retirement savings or a pension, and according to Wallethub, many Americans expect a delay in retirement, due to the COVID-19 pandemic.

Figuring out when to retire is just as important as determining where you want to retire to. Obviously, you're looking for a place that is affordable, but even then it's difficult to cover all your living expenses no matter where you go. Social Security benefits or pension checks alone are not something retirees can rely on.

Living expenses are a top concern for retirees, but not the only concern. Other concerns include healthcare, how safe the state is, and activities to keep them busy. Wallethub, in order to help retirees find the best state to retire, compared all the states across 45 key metrics. For each state, they analyze affordability, health-related factors, and overall quality of life.

Surprisingly, New York was not the worst state to retire. A title that I'm sure we're okay not holding. According to the study, New Jersey was listed as the worst state to retire, followed by New York, yeah sorry, we weren't much better. As you guessed I'm sure, Florida was listed as the best state to retire.

Retiring in New York:

  • 45th – Adjusted Cost of Living
  • 29th – Annual Cost of In-Home Services
  • 48th – WalletHub ‘Taxpayer’ Ranking
  • 39th – Elderly-Friendly Labor Market
  • 25th – % of Population Aged 65 & Older
  • 41st – Health-Care Facilities per Capita
  • 44th – COVID-19 Positive Testing Rate in the Past Week
Source: WalletHub

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