Study: NY ranked 2nd worst state to retire in

A new study has ranked New York as the second worst state to retire in. The study, conducted by Bankrate.com, found the Empire State ranked

The study, conducted by Bankrate.com, found the Empire State ranked only behind Arkansas when cost of living, crime, health care, taxes and weather were factored in.

The study, conducted by Bankrate.com, found the Empire State ranked only behind Arkansas when cost of living, crime, health care, taxes and weather were factored in. (3/23/15)

WOODBURY - A new study has ranked New York as the second worst state to retire in.

The study, conducted by Bankrate.com, found the Empire State ranked only behind Arkansas when cost of living, crime, health care, taxes and weather were factored in.

Retirement planning expert Michael Kresh says that if you want to retire in New York, put off selling your home for as long as you can.

“The expensive real estate in New York makes it harder to stay, but the value of the real estate means if you can stay for your first five or ten years, you will have more money and flexibility later on, which is not common in a lot of other states,” Kresh told News 12.

According to the study, Wyoming ranked first on the list of states due to their favorable tax rate. Colorado ranked second and Utah came in third.

 

advertisement | advertise on News 12

Top 5 Must See

Rev. John Barres, of Allentown, Penn., will succeed 1 Pope Francis appoints new bishop to Diocese of Rockville Centre
The accident happened just before 11:30 p.m. Thursday 2 2 injured in Mount Sinai head-on crash
A house on Joyce Drive in Hauppauge was 3 House destroyed in early morning Hauppauge fire
According to police, the swastikas were drawn on 4 Swastikas found scrawled inside Nassau Community College building
News 12's Elisa DiStefano and Newsday's Anne Bratskeir 5 Festive Friday: Subscription Boxes

advertisement | advertise on News 12

Features

Need help this holiday season? We've got you Holiday Help Series

Need a gift idea? Perhaps you need a fun idea to do with the kids?

Each week a different shelter visits News 12 Dog Day Fridays Series

Each week a different shelter visits News 12 Long Island with pets up for adoption.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE