7. New Jersey
On average, New Jersey retirees get $1,337 a month from Social Security, as of 2012, according to AARP. And 3 in 10 rank this monthly payment as their sole source of income. And while many retirees pass the time enjoying the Jersey Shore beaches, that’s about all they will be able to afford once their checks get allocated elsewhere. Get Rich Slowly found New Jersey residents haven’t capitalized on savings as much as they could have and will feel the heat once their income is cut during retirement.
Next: Arizona will need Social Security.
2 thoughts on “Top 15 U.S. States Where People Mostly Rely on Social Security”
Looks like these states are the most liberal states in the USA.
New Hampshire does not have a high tax rate. In fact, there are comparison websites that show it is the third lowest tax rate (from the States) in the nation. We do not have any income tax. We do not have any sales tax. True, the real estate taxes are relatively high, but when you take into consideration that there are essentially no other taxes, we’re getting off easy. Also, the cost of living is rather low, compared to most other places. Food, gas, and insurance are lower here than in most other places that I have lived. So I have no idea what this survey is talking about. Perhaps New Hampshireites do rely on social security to a large extent, but when all things are considered, that government payout comes a lot closer to paying all their bills than in New York, for example.