SCOTCH PLAINS/FANWOOD, NJ -- New Jersey trails only New York as the worst state to live in for retirees, according to a new report by Kiplinger.
The magazine writes that "both living costs and taxes in New Jersey take a big bite out of retirement nest eggs." Further, the combined state and local tax burden is the second-highest in the nation.
If you get sick, it'll cost you dearly in the Garden State, where retiree health care costs rank third-highest in the nation, according to Kiplinger. The magazine also writes that the fiscal crunch "doesn't ease up after you pass on; the money you leave to your heirs is subject to both an estate tax and inheritance tax (with exemptions for spouses and some others)."
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