By using this site, you agree to the Privacy Policy and Terms Of Use.
Accept
WhatsNew2DayWhatsNew2Day
  • Home
  • Australia
  • Business
  • Economy
  • Entertainment
  • Gaming
  • Health
  • Lifestyle
  • Science
  • Sports
  • Tech
  • US
  • World
Reading: New York tops the list for the most expensive places to spend your post-work years, but California is NOT listed
Share
Aa
WhatsNew2DayWhatsNew2Day
Aa
  • Home
  • Contact
  • About us
  • Privacy Policy
  • Home
  • Australia
  • Business
  • Economy
  • Entertainment
  • Gaming
  • Health
  • Lifestyle
  • Science
  • Sports
  • Tech
  • US
  • World
Follow US
© 2022 WhatsNew2Day News Network. All Rights Reserved.
WhatsNew2Day > US > New York tops the list for the most expensive places to spend your post-work years, but California is NOT listed
US

New York tops the list for the most expensive places to spend your post-work years, but California is NOT listed

Last updated: 2023/03/19 at 11:34 PM
Jacky 4 days ago
Share
New York has been ranked as the least affordable state to retire in the United States, as well as being home to the world's most expensive city to live in.
SHARE

New York has been ranked as the least affordable state to retire in the entire United States, while California doesn’t even make the top 10.

A report of WalletHub compared all 50 states using three main metrics: affordability, quality of life, and health care.

A particular state’s affordability was calculated using data from various sources, including the US Census Bureau and the Council for Community and Economic Research.

New York State ranked 10th in quality of living and 16th in health care, but ranked last (50th) in affordability, as the state has the second-highest adjusted cost of living, behind Alaska, and the third highest tax rate in the country.

The report goes on to suggest that even for someone with $1 million in retirement savings, that could only cover living costs for about 14 years, much less than the 25 years a retirement typically lasts.

New York has been ranked as the least affordable state to retire in the United States, as well as being home to the world’s most expensive city to live in.

Other northern states, including Maryland (46) and Illinois (42), were near the bottom of the table when it came to affordability.  Above, the Chicago River and Trump Tower are shown.

Other northern states, including Maryland (46) and Illinois (42), were near the bottom of the table when it came to affordability. Above, the Chicago River and Trump Tower are shown.

THE MOST EXPENSIVE STATES TO RETIRE IN

1. New York

2. New Jersey

3.Vermont

4.Massachusetts

5.Maryland

6.washington

7.connecticut

8.Maine

9.Illinois

10. Oregon

Across the Hudson from New York, New Jersey ranked as the second least affordable state in which to retire.

California ranked 32nd in terms of affordability, but ranked 10th when it came to health care, as the state is home to some of the best hospitals in the country.

Several New England states, including Vermont, Massachusetts, Connecticut, and Maine, developed the bottom 10 spots for least affordable places to live.

Vermont’s Green Mountain State ranked 48th followed by Massachusetts at 47th, though the Bay State ranked first for quality of life. Connecticut and Maine ranked 44 and 43 for affordability. However, Maine ranked sixth for quality of life.

Other northern states, including Maryland, 46, and Illinois, 42, were near the bottom of the table when it came to affordability.

The solidly Democratic northwestern states of Washington and Oregon came in 45th and 41st.

At the other end of the table, Alabama ranked first in affordability, followed by Tennessee and West Virginia in second and third, respectively.

South Carolina, Delaware, Wyoming and Georgia were next, with Wyoming also scoring high for quality of life, with the state ranking ninth.

Florida and Mississippi ranked ninth and tenth. Florida also ranked fourth in the nation for quality of living.

Massachusetts ranked fourth from bottom with 47, though Bay State ranked first for quality of life.  Above, the view from one of the units of the new high-end apartment building in Boston.

Massachusetts ranked fourth from bottom with 47, though Bay State ranked first for quality of life. Above, the view from one of the units of the new high-end apartment building in Boston.

Several New England states, including Vermont, Massachusetts, Connecticut, and Maine, developed the bottom 10 spots for least affordable places to live.  Pictured is the Riverside Yacht Club in Greenwich, Connecticut

Several New England states, including Vermont, Massachusetts, Connecticut, and Maine, developed the bottom 10 spots for least affordable places to live. Pictured is the Riverside Yacht Club in Greenwich, Connecticut

Downtown high-rise apartments near the marina glow in the morning waters of the Willamette River in Portland, Oregon.  Portland has embraced its national reputation as a city inhabited by strange and independent people.

Downtown high-rise apartments near the marina glow in the morning waters of the Willamette River in Portland, Oregon. Portland has embraced its national reputation as a city inhabited by strange and independent people.

Vermont's Green Mountain State was ranked 48th followed by Massachusetts at 47th. Pictured, Burlington, Vermont, Church Street in downtown with restaurants and tourists outside

Vermont’s Green Mountain State was ranked 48th followed by Massachusetts at 47th. Pictured, Burlington, Vermont, Church Street in downtown with restaurants and tourists outside

Concern about retirement finances has increased this year, as Americans anticipate that they will need to significantly increase their retirement savings.

On average, American adults now expect to need $1.25 million to retire comfortably, up 20 percent from a year ago, according to a recent survey published by northwest mutual.

But at the same time, the median retirement balance for Americans has fallen 11 percent to $86,869, down from $98,800 last year.

The expected retirement age has risen to 64, up from 62.6 last year, indicating that Americans believe they will have to work more years to accumulate enough for retirement.

The median retirement balance for the average American has fallen 11% to $86,869, down from $98,800 last year.

The median retirement balance for the average American has fallen 11% to $86,869, down from $98,800 last year.

On average, American adults now expect to need $1.25 million to retire comfortably, 20% more than a year ago, although more than half

On average, American adults now expect to need $1.25 million to retire comfortably, 20% more than a year ago, although more than half

“This is a period of uncertainty for many people, driven in large part by rising inflation and volatility in the markets,” said Christian Mitchell, Northwestern Mutual’s executive vice president and chief customer service officer.

“We’ve also seen year-over-year spending increases not only as a result of inflation, but also as people have regained a sense of normalcy in their lives after the early days of the pandemic,” he added.

“These factors are leading many people to recalibrate their thinking about how much they will need to retire and how long it will take to get there.”

You Might Also Like

Bar Refaeli flaunts her sizzling figure in a skimpy brown bikini in cheeky snaps

Named: England fan who posed with flag mocking Diego Maradona’s death

LGBTQ jerseys at the center of NHL controversy involving Panthers’ Staal brothers

Australian Billionaires Listed: Sam Arnaout and Edward Craven Among the Lesser Known

Helen Flanagan shows off her toned abs in a pale blue sports bra and matching leggings.

TAGGED: California, dailymail, expensive, list, listed, news, places, postwork, spend, tops, years, York
Jacky March 19, 2023
Share this Article
Facebook Twitter Email Print
Share
Previous Article Ducks eliminated from playoff contention in loss to Canucks Ducks eliminated from playoff contention in loss to Canucks
Next Article Flowers and candles are placed in front of the entrance to a community center of Jehovah's Witnesses in Hamburg, Germany, Monday, March 13, 2023. Memorial to Jehovah’s Witness shooting victims in Hamburg, Germany

Latest

Meet the South African school using extended reality to facilitate learning
Meet the South African school using extended reality to facilitate learning
News
Urethra of Healthy Men Is Teeming With Microbial Life – Vaginal Sex Results in Distinct Microbiome
Urethra of Healthy Men Is Teeming With Microbial Life – Vaginal Sex Results in Distinct Microbiome
News
The Apprentice: who is the series 17 winner?
The Apprentice: who is the series 17 winner?
Tech
Best Resident Evil 4 remake Steam Deck Settings
Best Resident Evil 4 remake Steam Deck Settings
Science
Jonathan Kuminga Draws Twitter Love as Steph Curry, Warriors Beat Luka Dončić, Mavs
Jonathan Kuminga Draws Twitter Love as Steph Curry, Warriors Beat Luka Dončić, Mavs
News
Sexy: Bar Refaeli, 37, sizzled in a series of racy bikini snaps flaunting her enviable figure as she enjoyed a getaway to paradise on Friday
Bar Refaeli flaunts her sizzling figure in a skimpy brown bikini in cheeky snaps
Entertainment

nba 2k23 mt

© WhatsNew2Day News Network. All Rights Reserved. Email: contact@whatsnew2day.com

  • Home
  • Contact
  • About us
  • Privacy Policy

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?