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Study Ranks New York As Worst State For Retiring

The midtown New York City skyline, including the Empire State Building, is seen from the air over New York   (Photo credit: SAUL LOEB/AFP/Getty Images)

The midtown New York City skyline, including the Empire State Building, is seen from the air over New York (Photo credit: SAUL LOEB/AFP/Getty Images)

NEW YORK (CBSNewYork)A new survey from Bankrate ranked New York state dead last on the list of places to retire.

Bankrate noted that New York City is home to nearly half of state residents, and the high taxes and cost of living were to blame for the low ranking.

New York state residents also have the fourth highest cost of living in the country, and “relatively low government scores” for health care quality and wellness.

As 1010 WINS’ Sonia Rincon reported Monday night, the finding about New York and retirement was not surprising to Eric.

“I definitely can’t retire in New York,” he said. “It’s too expensive; too much going on. There’s not relaxation,” he said, adding he would prefer “Arizona, Nevada, California – somewhere like that.”

But Janet has been retired in New York 20 years and enjoys all four seasons.

“I visit my family in Arizona – very interesting, very beautiful – been to Florida many times,” she said, “but there’s no place like New York City.”

She said in New York, you can have it all, and have it delivered – “including a vet for your dog, the liquor store, the cleaning.

“New York City is a vibrant city, and it’s keeping me young,” she said.

And another woman, Jordan, said the study can’t be right and argued that New York is the best place to retire.

“You have at your disposal the top-notch medical facilities in the world. You have for your pleasure all the greatest entertainment opportunities at the time in your life when you’re most able to take advantage of them,” she said.

Also ranking toward the bottom were West Virginia, Alaska, Arkansas and Hawaii. South Dakota topped the list as the best place to retire, due to a low tax burden, low crime rate, and high wellness score.

Colorado, Utah, North Dakota, and Wyoming also ranked high on the list.

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