These Are The States Most Prepared for Retirement
Summary
A report from Caring.com ranks U.S. states on how well-prepared they are for retirement based on factors like retirement income, savings, and housing costs. Delaware ranked first, with high homeownership rates and personal savings. The report highlights the importance of considering healthcare and living costs when planning for retirement.Key Facts
- The report from Caring.com ranks states by retirement readiness based on income, savings, and costs.
- Delaware is ranked as the most prepared state for retirement.
- Delaware's average retirement income is $31,300 per household with a 75% homeownership rate.
- Virginia, Connecticut, Minnesota, and Illinois are also in the top five states for retirement preparedness.
- Virginians have an average retirement savings of $492,965.
- Connecticut allows automatic enrollment in retirement plans, with average savings of $545,754.
- Low cost of living and lack of taxes on Social Security are beneficial for retirees.
- Inflation and healthcare accessibility are significant concerns for retirees.
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