There’s no shortage of retirement advisors online who recommend the best cities, states and even countries for retirement. If you’re looking for lower income taxes, there are places for that. If you want miles of sandy beaches, there are places for that.
And if you dream of being close to friends and family, you’re probably there already. But are all retirement destinations created equal? If there are excellent retirement destinations out there, what are the worst?
As reported recently by AARP.org, the 10 worst states for retirees are:
3/ New York
4/ Rhode Island
5/ New Jersey
The reasons for these 10 states varied, but they ranged from the poor financial health of the Illinois and California state governments, high property taxes in New York and Wisconsin, unemployment and cold temperatures in Ohio, and a high volume of home foreclosures in Nevada. As well, Social Security in Connecticut is taxed, so people who rely on that as a source of income don’t keep the entire amount.
But if you’re looking for a beachfront home in California, or if you want to be close to your family in Ohio, then don’t let a list deter you. But when considering relocating, think about all factors before you move.