It is NEVER too soon to think about your future financial security. What IS the WORST state to retire in? What is the BEST? Is Massachusetts the most expensive?
When you’re young, retirement seems like a million years away. Then it all changes. You get married, have one or two kids, and buy a house. Now you wonder, how will we pay for college? Then it hits you, you never really started to think about your future financial security with a plan for retirement. You say “I’ll get to it.” But because life gets in the way, you never really do, get to it. Or like many, you’re in your thirties and you’re NOT married or have started a family. Should you buy that house, or stay mobile?
Retirement Stats
Our friends at Wallethub is sharing their in-depth report finding the BEST and WORST states to retire to. With inflation hitting an all time high, and credit card way up, it makes sense that people are worried about their financial security.
According to the report Americans worry about retirement. More than 3 in 10 people feel anxious when thinking about retirement. Add to that, too many people lack a plan. More than 1 in 3 Americans don’t have a retirement plan. Nearly half the nation lacks confidence. 46% of Americans are not confident they will have enough money to retire. Many people may never retire. 39% of people say they expect to work until they die. Debt takes precedence. More than 3 in 5 Americans think paying off debt is more important than making retirement contributions. Many people are obsessed with retirement. 31% of people think about retirement all the time.
Below we’ll look at the top three BEST states, and the WORST state to retire in, and where Massachusetts ranks.