Financial Readiness for New Jersey Retirees

The outlook for retirees in this state is not too rosy, according to this study from the National Institute on Retirement Security. On a scorecard ranging from 1 to 10, with 10 highlighting maximum retirement security, New Jersey comes in at a 4. The report states that”… the 4 out of 10 score on the Financial Security Scorecard means that the next generation has a higher potential for financial insecurity in retirement than counterparts in many other states; however, there is still room for improvement.” New Jersey’s score has dropped steadily since 2000 and is now below the national average of 5.5. Other states’ ratings can also be accessed.

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