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10 of the Worst States to Retire

This list that includes high property taxes, taxations of retirement income, estate taxes, and cost of living. Retirees should factor in other considerations such as medical care, recreational and cultural opportunities, natural beauty, transportation, crime and natural disasters.

New Jersey: One of the highest cost of living (ranking 46 out of 51.)

Illinois: Has an estate tax and the fifth highest gas tax.

Wisconsin: The fourth highest property taxes in the U.S. Retirement income is taxable.

Nebraska: The sixth highest property tax as a percent of home value.

Michigan: High property taxes as a percent of home value (No. 7).

Vermont: High cost of living (No. 41)

Ohio: Marginal tax rate is 5.95%.

Connecticut: Social Security and retirement income is taxable for higher income residents.

Rhode Island: Social Security and retirement benefits are taxed.

New York: The 13th highest property tax as a percent of home value.

Read More: http://www.marketwatch.com/story/10-of-the-worst-states-to-retire-in-2014-03-25

 

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