10 Worst States to Retire in 2021

What is going on everyone? Welcome back to the  world according to briggs and a video about   retirement most people have their dream retirement  location it's that place you have in your brain   that you go to when you're stuck in traffic on  your commute from your job you hate it's normally   a place that you have in mind where you could  relax and enjoy life after decades of working   for the man at least most people work for the man  some like myself have their own businesses i get   it stop typing but one man's dream spot is another  man's pipe dream some of us just can't afford to   retire wherever we want according to kiplinger.com  the number one factor on where a person retires   is the cost and also how much they'll pay in taxes  on their retirement income which is kind of part   of cost i think myself after cost living they look  at the weather and how cold it gets they're not   worried about how hot it gets so they just want to  know how cold it gets there are other factors like   family is the place pet friendly and quality of  healthcare they're all taken into consideration   when finding the ideal place to retire on this  video we'll be putting more focus on the most   important two cash and the cold what i found funny  when researching this list is that the top two on   this list are two of the warmest states we have  in the country but the cost of living is so high   they ranked as the two worst alright let's see  what we found number 10 rhode island little roadie   is not a place many people plan on retiring to  it's actually quite the opposite rhode island is   one of the states that have the highest number per  capita of retirees putting the home state in their   rearview mirror besides the cost the cold season  lasts about three and a half months from december   3rd to march 23rd that's their coldest time of  year with average daily temperatures below 45   degrees fahrenheit the coldest day of the  year is january 30th with an average low of 20   degrees fahrenheit and a high of about 35 degrees  fahrenheit it is estimated to live comfortably in   retirement in rhode island you need to make about  two thousand four hundred thirteen dollars a year   yeah pricey and cold you only stay there if you  like seafood cold weather and you got family there   number nine new jersey most people leave new  jersey because it sort of sucks retirees leave   there because it's expensive and it sort of sucks  my great uncle started talking about how he wanted   to retire in new jersey from southern california  we all thought it was kind of strange you know   it just didn't sound like him but he kept talking  about it and my aunt his wife started seeing other   strange things and she finally took him to the  doctor and found out that he was having a reaction   to his blood pressure medication that made him  have crazy thoughts when they got that all figured   out he had no desire to move to the garden state  that's how you end up moving to the garden state   in retirement your blood pressure medication has  to be out of whack housing costs of living and   cold are what's driving them out of new jersey  you need an estimated 64 736 dollars to live   comfortably in new jersey in retirement number  eight connecticut even though connecticut has   some of the wealthiest towns in the united states  they have more than their fair share of towns that   can be best described as a train wreck or maybe  dumpster fire yeah they got some real stinkers yet   with all those bad towns and cities like hartford  they still have a very high cost of living that's   breaking the rules when you suck you're supposed  to be cheap not connecticut on top of all that   all types of retirement income are subject to  connecticut's income tax although social security   is exempt for some seniors not all just some the  state has a sales tax that's slightly below the   national average and some of the highest property  taxes in the united states yeah it's brutal there   then it's new england so you know it's painfully  cold winter sometimes i mean sometimes they'll   have decent winters but sometimes it gets  bad it is estimated that you need sixty six   thousand five hundred and forty three dollars  annually to live in connecticut comfortably number seven alaska alaska is a great state  especially if you're a nature lover that's   kind of obvious what isn't terribly obvious is  unless you live there you might not know they have   an incredibly high cost living this of course is  because almost anything you need other than salmon   and moose roadkill has to be shipped to the state  on top of all that winters are cold dark and long   you need about sixty six thousand nine hundred  and fifty six dollars to live here comfortably   now keep in mind this isn't like our places you  could survive on fifteen hundred dollars a month   in retirement videos we had a couple months back  that was just housing food utilities this video   is about everything and live comfortably meaning  you don't have to worry about where your next meal   is coming from and your utilities and stuff are  paid i've been asked a bunch of times for a video   that didn't include numbers that would have you  eating top ramen like two or three times a week   so here it is number six maryland maryland is  a bit more expensive and i honestly think it'll   be getting more expensive in the coming years the  largest city baltimore starting to show signs of a   major turnaround thanks to incoming tech companies  if they get baltimore's crime rate under control   it could possibly be a tech hot spot so  to speak maryland exempts some types of   retirement income from the state income taxes  including social security and 401k distributions   but it fully taxes other types maryland is the  only state in the country with both an estate   and an inheritance tax so you might be leaving as  much as you thought to your kids if you live in   maryland this is another place that gets really  rough winters like anything in the mid-atlantic   new england area it gets rough you need sixty  seven thousand two hundred fourteen dollars to   live comfortably in maryland in retirement number  five oregon the beaver state wasn't always what   it is today its largest city portland used to be  a great city that everyone's flocking to was a   really nice place the great isn't really a thing  anymore and the flocking has slowed down to half   of what it was a decade ago it has also become  less appealing for retirees in that decade too   the economy the homeless situation the increase  in rent and home prices and of course all the   protests and civil unrest have tarnished the shine  that used to be on this great state it doesn't get   terribly cold unless you're somewhere like the  mountains where you're expecting it to snow in   every once a while but it rains more months than  not so that's usually a bummer for retirees they   just want to flock someplace warm oregon exempts  social security retirement benefits from the state   income tax so that's good oregon does tax income  from retirement accounts like 401ks and ira though   at the full state income tax rate which state  income tax in oregon sucks but the state has no   sales tax so that's pretty good you need sixty  eight thousand seven hundred and twelve dollars   to live comfortably in oregon in retirement  number four massachusetts it's massachusetts   so you know right off the bat it's going to be  cold and expensive massachusetts has a lot of   positives for younger people but not many for the  retirement crowd other than solid healthcare they   do they have really good healthcare like all new  england states winters here can be a pisser as   they say in boston and no i won't attempt it with  that boston accent i would just sound ridiculous   and i would get more comments than i'd ever want  the cost of living here is crazy the bright spot   is massachusetts fully exempts social security  retirement benefits while taxing most other   forms of retirement income so that kind of sucks  but at least your social security's left alone   the state tax has an exemption of just a million  dollars that ties them for the lowest in the u.s   so that's good i guess cold and the cost is what  puts it at the fourth spot now if you like seafood   and you're pretty much a beer snob and only like  high-end beer this is a great place to live they   got a lot of both anyway you need 69 279 dollars  to live comfortably in massachusetts in retirement   number three new york state the empire state  has a lot of residents leaving and the largest   demographic are retirees and soon-to-be retirees  when it comes to income taxes new york state is   very tax friendly state for retirees all social  security retirement benefits are exempt from   taxation income from retirement accounts or  private pensions is deductible up to 20 000   so that's a plus what kills this state is the  cold health care and cost of living that shouldn't   be real the cost of living is that bad it really  shouldn't be real it should be some sort of sci-fi   future stat for new york in like 2047 and we find  out what soylent green is really made of that type   of thing it doesn't seem real when i look at the  numbers sometimes but in the state alone all the   state not just new york city you need 69 847  dollars to live comfortably in new york state   in retirement all right here's where it gets weird  number two california the golden state blows for   anyone that isn't well into the six digit income  area if you live in a part of the state that isn't   terribly expensive there's probably a butt load  of reasons why it's so cheap those reasons range   from you're living in death valley you live in a  trailer in the backwoods of northern california   you're survivalist and living illegally off the  land or you live in an apartment building that   is so run down it doubles as an open-air street  pharmacy yeah it's that bad the weather is great   and the healthcare is decent in california  while california exempts social security   retirement benefits from taxation all other forms  of retirement income are subject to the state's   income tax rate which ranges from one percent  to 13.3 percent additionally california has   some of the highest sales taxes in the u.s so  it could get expensive you need 72 207 dollars   to live comfortably in california and that's you  know an average throughout the whole state if you   get in any of the coastal cities it's much higher  before we get to number one don't forget to hit   that like button hit that subscribe button and  uh hit that little bell notification so you know   when we upload it next all right on to number one  and number one hawaii paradise comes with a price   tag and spam hawaii is like alaska with their  cost living situation most things have to be   shipped to the islands and that can get expensive  very expensive in this case what drives prices up   beyond shipping is housing costs people want to  live in hawaii almost 70 percent of americans   surveyed said hawaii is their top five list of  dream retirement locations and 64 of non-retirees   said this was one of their top 10 places to  live being so popular this drives up prices   on everything especially housing where the median  listing price for a single family home is 650 000   that's just the middle price it's way higher and  it doesn't get a lot lower i mean you've got to be   living down a farm road someplace to get something  under 400 000 in hawaii you know and you're 10   miles out from anything that could resemble a  town or a city hawaii entirely exempts some types   of retirement income so this is good including  social security retirement benefits and public   pension income on the other hand the state fully  taxes income from private pensions and retirement   savings accounts so that sucks all right that's  our list today hope you guys enjoyed it hope   you got some information out of it everybody  have a great day and be nice to each other

Channel: World According To Briggs

Views: 220,480

Keywords: Travel, where to live in America, Top 10, Top Ten Lists, Move to, Top 10 reasons not to, worst cities to live in, world according to Briggs, United States, Ranked, Lists, Best States, Best Cities, Relocate, Maps, Retirement, worst states for retirement, Highest cost of living, Retirement taxes, worst states, where to live in america, worst states in america, worst cities to live in 2021, social security taxes in retirement, united states of america

Id: VmKw1kh516c

Length: 10min 33sec (633 seconds)

Published: Mon Mar 08 2021