TRENTON, N.J. – New Jersey is the worst place in America to retire according to the latest analysis from WalletHub. The Garden State finished behind New York (#49), Connecticut (#43), and Pennsylvania (#32).
“In order to identify the most retirement-friendly states, WalletHub compared the 50 states across three key dimensions: 1) Affordability, 2) Quality of Life and 3) Health Care,” the site’s explanatory blurb begins.
New Jersey finished 50th in affordability, 35th in quality of life, and 33rd in health care.
“We evaluated those dimensions using 45 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for retirement. For metrics marked with an asterisk (*), we used the square root of the population to calculate the population size in order to avoid overcompensating for minor differences across states,” the Wallet Hub team elaborated. “We then calculated each state’s weighted average across all metrics to determine its overall score and used the resulting scores to rank-order the states.”