8. New York
The Empire State is also among the list of the toughest states for retirees. Now, if you have deep pockets, New York can be a great place to retire. However, if you don’t, it’s going to be a financially tough to swing.
While seniors living here can qualify for some tax breaks, experts say sales and property taxes are burdensome. For example, the state’s combined sales taxes can reach 8.2%.
And if your mobility or health become an issue one day, you’ll need to have enough saved up to cover expensive nursing home costs. According to New York’s Department of Financial Services, nursing homes can cost anywhere from$96,000 to $142,000 per year, depending on where you live.
New York no longer sounds like a good retirement spot, does it?
If you liked our article on the toughest states for retirees, you may also want to read 8 Best Senior Communities in the US.
