WalletHub is out with its annual “Best States to Retire” and New Jersey ranks dead last in the nation. The primary reason is that NJ is dead last in “Affordability” (NJ is 35th for “Quality of Life” and 33rd for “Healthcare”). The bottom ten for affordability are Maryland, Oregon, Washington, Massachusetts, Rhode Island, Maine, Connecticut, Vermont, New York and New Jersey – almost entirely so-called “Blue States” with strong government unions. See a pattern?
Remember that older people tend to be wealthier, so wealth leaves NJ along with the retirees. So WalletHub confirms a big reason reason why people and wealth leave NJ: high taxes and high costs make it too expensive to live here.