Transcription
Here are the five worst states you could ever retire to, financially speaking, of course. I'm Tyler. I'm a former financial advisor and portfolio manager. Now I make financial content for free, so you don't have to pay for it.
Number five, Kansas. Top 10 state income tax rate, taxes your social security benefits, and the weather will genuinely try to kill you. You did not just spend 40 years saving for this.
Number four, Minnesota. Beautiful state, wonderful people. Also taxes your social security, has a top income tax rate of 9.85%, and is cold for approximately 9 months a year. Your 401k should not be a down payment on frostbite treatment.
Number three, California. No social security tax, which is the only nice thing I'll say. Top marginal income tax rate of 13.3%, and can reach as high as 14.6% when combined with additional state income taxes. Median home price north of $800,000. Yes, the weather's perfect. You're taxed accordingly.
Number two, Hawaii. The most beautiful place in America, also the highest cost of living in America. 84% above the national average. A two-bedroom rental averages $2,800 bucks a month. You will love the sunsets, and you'll also love living on the beach when you can't afford the rent.
And number one, didn't see this coming, Oregon. No sales tax, which sounds like a gift until Oregon hands you the bill for everything else. State income tax is among the highest in the nation, the estate tax rate is third in the country, and $1 million in savings lasts approximately 15 years and 8 months, which is a terrifying sentence if you plan to live past 80. The public pension system carries a $30 billion deficit that somehow lost an additional $3.7 billion in 2025 due to non-compliant private equity strategies. And in one study, Oregon ranked 51st out of 50 states to live in because the researchers included DC just to make Oregon 51st. Now that should be on the license plate.
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