6 Most Expensive States for Retirement

55% of Americans worry about securing retirement, with 20% of adults aged 50+ having no savings. New York, California, Connecticut, Vermont, New Jersey, and Maine are the most expensive states for retirement due to high living expenses and taxes. These states have high income taxes, sales taxes, and property taxes, with little relief for pensions or Social Security. Consider budget-friendly states like Georgia, Tennessee, and Wyoming, and keep in mind that some states like Maine are easing pension tax breaks. Balance financial factors with family ties and lifestyle for a successful retirement.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.