Top 10 worst retirement states in 2024: Survey results
Survey Reveals Kentucky and New Jersey as the Worst States for Retiring
According to a recent survey released on Monday, Kentucky and New Jersey have been identified as the worst states for retirees. The rankings were based on factors such as affordability, quality of life, and healthcare.
Kentucky claimed the undesirable title of being the 50th worst state to retire in. It scored poorly in all three categories, making it an unfavorable choice for retirees. New Jersey and Mississippi followed closely behind, ranking 49th and 48th, respectively. Mississippi, in particular, received the lowest score for quality of life among retirees.
On the other end of the spectrum, Florida, Colorado, and Virginia secured the top three spots for the best states to retire in. These states excelled in affordability, quality of life, and healthcare. Florida, in particular, claimed the coveted first place overall ranking and also ranked first for quality of life. Its relaxed tax laws contributed to its fourth-place ranking in affordability.
The 10 Worst States to Retire In:
- Kentucky
- New Jersey
- Mississippi
- Rhode Island
- Oklahoma
- Louisiana
- New York
- Washington
- Arkansas
- Illinois
New York, which ranked 44th on the list of best states to retire in, struggled with affordability due to its high cost of living and housing prices. However, it fared better in quality of life, ranking 10th, and healthcare, ranking 12th. Alabama, on the other hand, ranked highest in affordability but fell to 49th place in healthcare.
Minnesota, ranked 8th overall, emerged as the state with the best healthcare for retirees. In contrast, West Virginia ranked the worst in this category. While Minnesota also scored well in quality of life, it scored lower in affordability.
Interestingly, New Jersey, the second worst state to retire to, experienced the highest number of people leaving the state. According to the National Movers survey, 65% of moves related to New Jersey in 2023 were people moving out of it.
California and Texas, two major states, ranked 17th and 32nd, respectively. California’s highest ranking was in healthcare, placing ninth in the country. Texas, on the other hand, excelled in affordability, ranking 25th in the U.S.
For more information, click here to read the full article from The Washington Examiner.
Why did New Jersey receive a low score in the survey for retirees?
Particular, scored poorly in healthcare and quality of life, while New Jersey was penalized for its high cost of living and lack of affordability.
The survey, conducted by Retirement Living, aimed to identify the best and worst states for retirees based on various criteria. These criteria included factors such as cost of living, tax burden, crime rate, climate, and access to healthcare and recreational activities. Each state was evaluated, and rankings were assigned accordingly.
Kentucky’s ranking as the worst state for retiring can be attributed to several factors. Firstly, the state scored poorly in terms of affordability. High taxes, expensive housing, and a high overall cost of living make it difficult for retirees to make their savings last. Additionally, Kentucky’s healthcare system also received a low score. The state has limited access to quality healthcare facilities, leaving retirees with concerns about their healthcare needs.
New Jersey also fared poorly in the survey due to its high cost of living. The state’s housing prices, taxes, and general expenses make it unaffordable for many retirees. As retirement often coincides with a fixed income, the cost of living is a crucial factor for retirees to consider. Furthermore, New Jersey’s quality of life also received a lower score. This may be due to factors such as high crime rates and a lack of recreational activities available for retired individuals.
However, it is important to note that the ranking of a state as the worst for retirees does not mean it is completely unsuitable for all retirees. Different individuals have varying preferences and needs, and what may be unfavorable for one retiree could be perfectly suitable for another. The survey results should be viewed as a general guide rather than an absolute judgment.
On the other end of the spectrum, the survey revealed that Florida was ranked as the best state for retirees. Factors such as its warm climate, affordable cost of living, and extensive recreational activities contributed to its high score. Other states that ranked highly included Colorado, New Hampshire, and Utah. These states were praised for their low crime rates, quality healthcare systems, and overall high quality of life.
In conclusion, Kentucky and New Jersey have been identified as the worst states for retirees based on a recent survey. Factors such as affordability, quality of life, and healthcare influenced these rankings. Retirees should consider these survey results as a starting point in their research and decision-making process, as individual preferences and circumstances may vary. Ultimately, the goal is to find a state that aligns with one’s needs and desires for their retirement years.
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