Kentucky Is The Only State Worse Than New Jersey For Retirees
According to a new report from WalletHub, New Jersey turns up second to last on their list of states that are the worst places to retire. Only one state is worse for retirees and that’s Kentucky. They say New Jersey is one of the worst places to retire.
The analysis from WalletHub was released on January 22, 2024. Their report factors in multiple financial factors and a few quality-of-life factors to drop our beloved Garden State to 48th on the list of places to retire. The report uses these factors in their analysis:
- Affordability
- Health care
- Quality of life
Taking a look at their list, affordability makes sense as retirees are on a fixed income. Additionally, New Jersey’s high taxes (highest in the country if you look at some lists) are a giant red flag for retirees. Let’s not forget the cost of real estate is also a giant red flag. This recent report shows how astronomical home prices are in Monmouth County. WalletHub considers access to quality healthcare important for retirees as well. For WalletHub, “quality of life” includes things like mild weather, the presence of “scenic byways” and the “number of bingo halls per capita”.
Ummm, bingo halls? Are they serious about that one? My apologies if I’m missing something on the popularity and necessity of bingo halls for people in their golden years. If I am, please educate me.
This report is confusing because didn’t this same website list New Jersey as a pretty good place to live? WalletHub ranked Jersey as 5th happiest in the country back in 2022. And also in 2022 they ranked our state as 2nd best place to live in the country.
According to their results this time around, New Jersey ranks 49th on the list of states in which to retire. Only one state in the entire country is below New Jersey. That last state… would be Kentucky.
OUCH. Only Kentucky is worse than New Jersey? Kentucky, ranked 41st for health care? That place that’s ranked 45th for education? Kentucky, with it’s 6th highest poverty rate in the nation… That’s the only place worse off for retirees than New Jersey? Hmmmmm.
On the other hand, Kentucky is where all my favorite bourbon comes from so maybe there is a good reason to retire there even if they are last on this list.
Bottom line: clearly New Jersey can do better for retirees. Let’s get at that.
Things We Love: Sandy Hook
