13. Rhode Island
- Despite East Coast income, Rhode Island is not a place overpopulated with savers.
Get Rich Slowly compiled the list of states least likely to be successful savers by examining the income tax rate, credit card debt, and total deposits per capita as told by the FDIC in every state. It seems Rhode Island residents will need that Social Security check to pay those high taxes and other daily expenses because this state didn’t show the best track record for saving. Rhode Island ranks No. 37 for saving money and getting ahead.
Next: A trendy state with a need for 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.