5 Worst States to Retire On Social Security

This article takes a look at the 5 worst states to retire on social security. If you wish to check out our detailed analysis on the shifting trends of middle America, Boomer moves, and financial considerations, you may go to the 15 Worst States to Retire On Social Security.

5. New York

Insider Monkey Rank: 7.9

Cost of Living Index: 126.5

Health Index: 108.4

Tax Friendliness: Moderately Tax Friendly

One of the most expensive states to live in the United States is New York. The cost of living in the state is 26.5% higher than the national average. Social security benefits are exempt from taxation here. However, private pensions and income from retirement accounts are deductible up to $20,000. Moreover, sales and property tax rates are both higher than the national average. There is an estate tax as well.