2. California
- Cost-of-living index: 142.2
- Average one-bedroom rent (January 2022): $1,652
California is a captivating place full of travel destinations due to its natural beauty, coastlines, theme parks, and vibrant towns not seen anywhere else on Earth. Truth be told, the Golden State is perhaps the most renowned state in America, and many people visit this place for its lifestyle, landscape, as well as other activities.
Financially speaking, the average household income for seniors is significantly above average, yet plenty of seniors are unable to handle the heavy burden: 1 in 10 residents age 65 and older are living in poverty. But not just that: excluding the Social Security benefits, retirement income is fully taxable.
With above-average costs in almost every cost-of-living category and a housing index above 200, California has earned its reputation as a high-cost retirement place. If you’re planning to retire on Social Security checks alone, the California dream will likely remain just that.
6 Responses
I would think Pennsylvania should be listed as 1 of the worst states to live in for retirees
PA living is reasonable away from the cities. There is no sales tax on groceries, clothing, shoes, and non prescription meds. Residents of adjacent states travel to PA to buy clothing, shoes, and other untaxed items. Eastern PA residents go to DE to buy other stuff since DE has no sales tax at all. School taxes are high for PA property owners statewide, especially near and in the cities. Really, school taxes should be frozen or reduced for seniors at age 65 but the state legislature “won’t go there”.
The EPA wrecked most heavy industry in PA for the last 54 years and PA has had difficulty recovering lost revenue from manufacturing but continues to spend regardless.
Comments about #3 New York zero in on NYC which is not the real New York. When it comes to New York State “go west young man, go west”. NYC is too expensive plus it’s a rat-infested pit. Go westward into New York and live a much better quality of life. Avoid NYC at all cost!
Western NY born, raised, and educated and lovin’ it.
You forgot IL
If your only source of income is Social Security and you don’t own a home think about a roommate and Medicare does not cover ALL MEDICAL Expenses I get billed for Dr visits
and the rents DON”T have to be that high, greedy landlords,
maybe if heat/ac and lights included