The 10 most expensive states to retire in
Jack Birle
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New York is among the states that are the most expensive to retire in, and California does not make the top 15 on the list, according to a report.
A new report from WalletHub showed the Empire State is one of the worst states to retire in.
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The 10 least affordable states to retire in are New York, New Jersey, Vermont, Massachusetts, Maryland, Washington, Connecticut, Maine, Illinois, and Oregon.
California, known for its high cost of living, is the 19th least affordable state to retire in, and the state most associated with retirement, Florida, finished as the ninth most affordable.
The 10 most affordable states to retire in are Alabama, Tennessee, West Virginia, South Carolina, Wyoming, Delaware, Georgia, Arkansas, Florida, and Mississippi.
The report also suggested the best state to retire in is Virginia. That assessment is based on a combination of affordability, quality of life, and healthcare, and Florida finished second for those factors. Based on those same factors, the worst state to retire in is Kentucky, and New Jersey finished in second worst.
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A 2021 report from the Federal Reserve found only 40% of adults feel their retirement savings plan is on track, and 75% of adults said they have retirement savings.
The report also found that retirees make up 27% of the adult population in the United States.