What Does It Cost to Retire in These US States?
9. New Jersey
New Jersey is considered a higher-end retirement option. Retirees need to plan for living on $75,861 or more per year. Social Security does draw federal taxes, but not state taxes, and those with an adjusted gross income of less than $100,000 from private pension schemes can deduct $60,000 or $80,000 depending on how they file. Homeowners over 65 are eligible for rebates, and the state eliminated estate taxes in January 2018.
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