New York Ranked 5th Worst State to Retire
Bad news for New York residents near retirement age, you might be better served by moving to another state to enjoy your retirement years.
According to a study by Adam McCann of Wallethub, New York was ranked 46th of the 50 states when it comes to retirement, ranking dead last in affordability. On the bright side, New York ranked 10th in quality of life and 16th in health care.
But there's good news for the many New Yorkers who plan on retiring to Florida, the state was rated as the second best state to retire in behind only Virginia. Colorado, Wyoming and Delaware rounded out the top five.
There's a lot to dislike about New York in the retirement years. Living here is expensive no matter what part of the state you live in so you may have to work a couple extra years to save up enough money. And if you happen to retire in Upstate New York, you'll be spending half of your year battling the winter weather and that's not enjoyable for anybody.
But still, there's plenty of New Yorker's like myself who say it's New York or nowhere. Even if that means we have to work a few extra years to enjoy retirement comfortably, we know we're already living in the best place in the world. So maybe we can work on some of the issues facing retirees in New York so that when I get to that stage of my life I can rest easy knowing New York is a great place to retire. But for now, we'll have to come to terms with being the 5th worst.