Great News! New Jersey Is Not The Most Expensive State To Retire In
It will never surprise a New Jersey resident to find out that our state is not cheap to live in, but it might surprise us that we're not the most expensive state in some categories.
In the past, New Jersey has often been right at, or right near, the top of the list when it comes to the most expensive states to retire in. But not every source agrees with that notion.
We found an article that doesn't even have New Jersey in the top 5 most expensive states to retire in. We feel like sending them a gift basket or something. Not that being the 7th most expensive state to retire in is something worthy of a parade or even a minor little celebration.
But, despite that, New Jersey has been listed by the website A Piece of Rainbow as the #7 state on the list of most expensive places to retire.
While we're sending out gift baskets, we might want to send one basket each to Vermont, Massachusetts, Washington, Oregon, Colorado, and Hawaii for being the states that are even more financially challenging to retire in than the Garden State is.
For the record, Hawaii is the most expensive in the whole country with a median household income of nearly $600,000, compared to the measly $328,000 here in the Garden State.
So where is the most reasonable, inexpensive state to enjoy your retirement? These experts say you should head straight to Mississippi, where the median home is about $114,000. That's about the same price as a cup of coffee in New Jersey.