Poll: Majority of New Jerseyans Don’t Plan to Retire in NJ [AUDIO]
“Our survey of non-retirees finds that only a third plans on staying in New Jersey with 52 percent who say they intend to move elsewhere,” said Krista Jenkins, director of PublicMind and professor of political science at FDU. “When those who say they are planning on leaving were asked why – the biggest reason has to do with affordability and high taxes.”
Fifty-seven percent say New Jersey is just too expensive a place for retirees, especially given the state’s sky-high property taxes. The second reason is a desire for a warmer or different climate.
“People are living longer and need their retirement savings to last beyond what previous generations expected and retirees are obviously looking for places where they can stretch their dollars and their home state isn’t looking to palatable for many these days,” Jenkins said.
Even those New Jerseyans under 40 plan to leave the state after they retire, with 55 percent indicating they have set their sights elsewhere.
So where is everybody going?
“Forty percent say their sights are set on a Southern state,” Jenkins said. “About equal numbers say they’ll remain in the Northeast (14 percent) or they intend to move abroad (13 percent), with a fifth (20 percent) who say they’re undecided beyond knowing that they intend to leave New Jersey.”