Rhode Island Ranks as the Worst State to Retire, Says New Study

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Rhode Island Ranks as the Worst State to Retire, Says New Study

According to a new study, Rhode Island is the worst state in America to retire -- it ranks 51 in the new study that includes the District of Columbia.

The study finds that 31 percent of all nonretired adults having no retirement savings or pension.

"Even in the most affordable areas of the U.S., most retirees cannot rely on Social Security or pension checks alone to cover all of their living expenses. Social Security benefits increase progressively with local inflation, but they replace only about 40 percent of the amount you earned if you were an average worker, according to the Center on Budget and Policy Priorities," write WalletHub, the author of the annual study.

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Many of the New England states rank poorly: Maine #22, New Hampshire #24, Massachusetts #35, Vermont #44, Connecticut #48 followed by RI at #51.

The best state to retire?

Florida comes in at #1 followed by Wyoming at #2 and South Dakota #3.

Source: WalletHub

The 50 Greatest Living Rhode Islanders

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