You do not have to be 65+ to start thinking about your retirement. In fact, the earlier you do start making plans for retirement the better you will be when that time comes later in life. So maybe "now" is the time to start considering planning for the future, before the future is here, and trust me it gets here quickly.

 

 

92.7 WOBM logo
Get our free mobile app

 

 

Unsplash.com Towfiqu barbhuiya
Unsplash.com Towfiqu barbhuiya
loading...

 

 

The Senior List recently put together a list of the "worst" states to retire and one of the states on that list is New Jersey. "When retiring, most people draw from a variety of income sources, including pensions, 401(k)s, IRAs, Social Security benefits, and other private or public funds. Unfortunately, many states tax these income sources, making it essential to consider how much tax is levied in your area."

  • New Jersey
  • Hawaii
  • Connecticut
  • Maryland
  • New York
  • Kansas

 

 

Unsplash.com Harli Marten
Unsplash.com Harli Marten
loading...

 

 

In a recent article by the Senior List, They listed New Jersey among the worst six states for retirement. In New Jersey, "The sticking point will be the huge estate tax and the highest property tax in the country (2.21 percent). That means seniors with specific sources of public income may be able to retire to New Jersey without paying for it, while those who plan to purchase property there will be greeted with some of the highest overhead costs in the country."

I am planning on retiring here in New Jersey, despite this report coming out. I have lived here my entire life and Jersey is home. That being said "never say never" because with our kids living out of state, currently, who knows where life takes us and only time will tell, but the plan is to be here.

My advice for everyone is just to start thinking of "retirement" at any age, it's a marathon, not a sprint, so "the early bird gets the worm!"

How do you feel about retiring in New Jersey? post your comments below

 

KEEP READING: Here are the best places to retire in America

 

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

More From 92.7 WOBM