WalletHub: New Jersey ranked as 5th worst state to retire in

Posted: Updated:
EDISON -

It may not come as a surprise to some – but New Jersey is not a good state to retire in, according to one financial website.

WalletHub released its list of the best states in the nation in which to retire – with New Jersey coming in at No. 45. Only Vermont, West Virginia, Rhode Island and Kentucky ranked lower.

The report looked at a state’s affordability, health care and overall quality of life to make the determinations.

"When you get to a point in your life when you have a fixed income, I mean that's a deal breaker,” says Matt Rooney, founder and editor of SaveJersey.com

Rooney says that the real issue about where to retire comes down to money.

"People have to make a decision whether or not they're going to pay their property tax bill or be able to put food in the fridge,” he says.

The best states to retire in, according to WalletHub, are Florida, South Dakota, Colorado, New Hampshire and Virginia.

The report used data from the U.S. Census Bureau, FBI and the Centers for Disease Control and Prevention.

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