California Voted a “Worst State” for Retirement
What are the 10 worst states in which to spend your retirement? According to TopRetirements.com, factors such as fiscal health, taxation, and climate make these 10 states the worst for your golden years: Illinois, California, New York, Rhode Island, New Jersey, Ohio, Wisconsin, Massachusetts, Connecticut and Nevada.
It is intersting to note that six of the 10 worst states for retirees on this list were among those just identified by a Pew Center for States report as being in “fiscal peril.” These are the states we have previously mentioned have troubles balancing their budgets and a high risk of default.
The Pew Center report, “Beyond California: States in Fiscal Peril,” stated that “some of the same pressures that have pushed California toward economic disaster are wreaking havoc in a number of other states, with potentially damaging consequences for the entire country.”
Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island, Wisconsin and California are the 10 most financially troubled states, according to Pew’s analysis.
You can compare these lists with the 2010 US Census Bureau list of the top 10 states with people living in poverty: Mississippi, Arizona, New Mexico, District of Columbia, Arkansas, Kentucky, Georgia, Texas, Louisiana and Tennessee. A total of 16 US states have poverty rates of 15% or higher.
