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Don’t move to 1 of these 5 States if you live with your Social Security alone

These are the 5 worst states to live in if you have only your Social Security benefit payment as your financial income

TD Editorial by TD Editorial
16/08/2022 12:31
in Money
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The United States is such a large country that it is normal that there are places for all kinds of people. Prices in different states change a lot, and ex-workers who only collect Social Security can’t live just anywhere. Retirement puts a lot of economic limits, so it is best to avoid many places where higher overall prices are common. If you only collect Social Security, watch out for these states.

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You should also keep this information in mind if you have not yet applied for Social Security but plan to do so in the future. It’s not easy to find the best place for retirement, but avoiding these places will give you a little more money every month. Remember that it’s also important to live in a place where you’ll be happy and have your family nearby.

Worst places to live on Social Security alone

These places are not recommended to live in if you only have Social Security because it is hard to pay rent and bills with that kind of money. They are the most expensive places, so it is best not to live in them if our income is low.

  • 5. New Jersey: Overhead costs are more expensive in New Jersey. The average tax rate is also higher. And you have to pay taxes on almost everything. Therefore, New Jersey is not a good place to live if you only have Social Security.
  • 4. Massachusetts: Forget this place if you only have Social Security as income. The average prices are much higher than in the rest of the states, so it is impossible to live comfortably on a retirement benefit.
  • 3. New York: With an average rent of 1,600 dollars for a one-bedroom apartment, New York is a bad destination if you do not have much income. Other expenses are also very high, so the retirement benefit will not be enough to live in the Big Apple State.
  • 2. California: Rent is even more expensive than in New York, costing almost $1,700 per month. On top of this, taxes are very high and so are the price of food and medicine. It is not a good idea to move to California with only Social Security.
  • 1. Hawaii: It surpasses in the price of rent for a room all the previous places on the list. Besides this, it is good to remember that Hawaii is almost a paradise for many people, but a very expensive paradise. It is not cheap to live in this place and to do it with only Social Security is impossible.
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