It is expensive to retire these days.

But how expensive? And where are the worst places to retire?

The answer may or may not surprise you.

Senior woman sitting alone on a chair at home
Getty Images/iStockphoto

Unfortunately, news is not good for those of you who hope to stay in New Jersey even after your working days are over.

We aren't the worst out there but the overall outlook is still bleak.

Let me hit you with the worst to start to soften the blow.

According to, Hawaii is the worst state in America to retire in. You would need a whopping $2 million to retire comfortably.

“The median household income in Honolulu County, for example, is $88,000," explained CNBC author Sam Dogen. "If someone wanted to withdraw that $88,000 from their assets each year, they’d need about $2,200,000 in investments to withdraw at a rate of 4%."


I am going to guess that all of us are going to be avoiding Hawaii during our retirement years because the average American only has about $35,000 saved for retirement.

New Jersey the garden State, view of license plates in a flower garden
Kathleen Gail

Are you above or below that line? Yea, I'm below too.

So where does New Jersey rank? Let's find out.

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Here are the seven least affordable states to retire in 2022, according to Bankrate:

  1. Hawaii
  2. California
  3. Connecticut
  4. Massachusetts
  5. New Jersey
  6. Vermont
  7. Rhode Island

That's right, New Jersey ranked as the 5th worst state to retire in. I am not all that surprised.

According to, you would need approximately $1.2 million saved to comfortably retire in the Garden State.

Getty Images Signature/Townsquare Media photo illustration
Getty Images Signature/Townsquare Media photo illustration

Again, YOWZA.

Here's the breakdown of how World Population Review got that number:

To live comfortably in New Jersey after retirement, you'll need about $77K per year.

On average, retirees will live until 80 years old meaning that your retirement funds need to last for approximately 15 years.

$77,000 X 15 years = $1,200,000.

Man, living in the northeast is rough.

Ya know what? I'll see you in Florida.

How is the Awesome New Jersey Home So Inexpensive?

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