When it comes to getting the biggest bang for your social security bucks, Monmouth, Burlington and Ocean rank 5th, 6th and 8th respectively as the best counties in New Jersey, according to a new study.

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SmartAsset, a financial technology company, uses data to provide advice on big financial decisions such as home buying and saving for retirement.

AJ Smith, the company's Managing Editor, pointed out that social security can impact how much a person needs to save for retirement and what size home they can afford.

"We work with over 130 data partners to power that advice for people. Our goal is to provide that transparency and give people information so they are empowered to make decisions they can be confident about," said Smith.

The study used census data to determine average social security checks of those living in each county as well as the cost of living, including for basic necessities, which could explain why Monmouth was surprisingly cheaper by about $262.

A year of basic necessities in Monmouth totaled $22,173 compared to $22,435 in Ocean, according to the study.

"When we're talking about those life necessities, that may not be what you or someone would consider sort of a good retirement, so there are certainly additional costs that people will encounter in their retirement or may chose to encounter in their retirement," Smith said.

SmartAsset plans to conduct the study annually to see how the the trends change as different generations move into retirement, according to Smith.

"I think we'll see these numbers evolve over time, so I think it will be really interesting to track these trends over the years," she said.

Comparing the different counties and states nationwide can help people decide where they want to live during retirement.

"Seeing these numbers plainly and next to each other can help you make that decision," said Smith.

For a more national perspective, the company has a national map on its website as well a personal retirement calculator at www.SmartAsset.com.

Check out the top counties in New Jersey below:

RankCountyMedian Household WealthSocial Security IncomeCost of LivingIncome Tax as a % of Gross IncomeRetirement Readiness Index
1Hunterdon, NJ$159,394$20,669$26,0320.40%91.20
2Morris, NJ$114,536$20,555$22,9550.40%80.05
3Sussex, NJ$97,682$19,443$22,5290.40%72.65
4Somerset, NJ$115,974$20,511$26,2990.40%72.55
5Monmouth, NJ$85,522$19,407$22,1730.40%67.61
6Burlington, NJ$76,640$18,973$21,2720.40%65.04
7Cape May, NJ$63,870$19,082$19,9200.40%61.48
8Ocean, NJ$72,611$19,534$22,4350.40%60.86
9Warren, NJ$63,088$19,058$20,7390.40%59.28
10Gloucester, NJ$63,887$18,590$20,8610.40%59.20

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