15. Connecticut
- Connecticut ranks No. 43 in terms of money management, and has the third highest average credit card balance ($4,907) in the nation.
How much you’ll need to rely on Social Security depends largely on your history with money management. CreditCards.com used credit scores and the average credit card balance in comparison to household income to determine each state’s track record with money management. It seems retirees won’t be doing themselves any favors when it comes to preparing for retirement in Connecticut. With a track record of irresponsible spending and credit debt, they’re likely to need Social Security more than most.
Next: A state crawling with retirees
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.