Is your goal to retire in NJ? How we compare to other states
💵 Bankrate's annual ranking
💵Good and bad news for NJ ranking
💵Find out how much money is needed to retire in NJ
We all dream of retirement, but to get there, it’s no small feat.
But once the milestone is achieved, where makes the most sense to settle down?
Bankrate takes the guesswork out of the equation — they assembled a ranking of the best and worst states for retirement. The different categories considered: well-being, affordability, weather, crime and health care.
There’s good and bad news for New Jersey: it ranks middle-of-the-pack.
Scroll down to see where New Jersey ranks 👇
Retirement advice
- consider cost and quality of available health care
- think about how the state handles taxes
- calculate how long your retirement income will last
- visit the desired state beforehand to see if it’s a good fit
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The 10 best and 10 worst states to retire
Gallery Credit: Bankrate/New Jersey 101.5
Where does New Jersey rank?
Bankrate ranks the Garden State as number 35. Neighboring New York comes in at 49 and Pennsylvania is number seven.
New Jersey saw a dip in its placement from 2023; the Garden State went from 32 to 35.
SEE ALSO: NJ living history museum back open after brief pause
The First State, Delaware, took first this time around — rising from the second-place spot in 2023.
“Delaware moved from No. 2 to No. 1 because of the affordability metric. It carries the heaviest weight to reflect what’s been happening in the economy, with the cost of living rising as much as it has,” Bankrate analyst Alex Gailey said to CBS MoneyWatch.
Retirees in New Jersey need around $900,000 to comfortably live, according to a 2023 report from NJ.com.
The full Bankrate ranking can be found here.
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LOOK: Best counties to retire to in New Jersey
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