According to recent data, New Jersey is right at the top of the list of worst states to retire in unless you like to spend a lot of money.

When the folks at Deposit Accounts crunched the numbers, the Garden State is among the three worst states for your retirement in America.

New Jersey Is Among The Worst States For Retirement

Only two states are a worse choice for your retirement years than the Garden State, and they are California and Hawaii.

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When the experts determined the amount of money you'd have to spend in New Jersey during your retirement year, both on a yearly and monthly basis, the results were jaw-dropping.

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Try to wrap your head around these statistics. If you stay in New Jersey for your retirement years, it will cost you a stunning $4638 a month.

New Jersey Is Way Too Close To The Most Expensive State In The Country

The most expensive state in America is Hawaii, and they are only $92 a month more than the Garden State. Ouch.

When you calculate the annual numbers for New Jersey, the data becomes even more mind-boggling.

Your price tag for a year of retirement in New Jersey is a shocking $55,660. That's a lot of money out of your Golden Years account. It's hard-earned money right out of your pocket.

The state with the lowest price tag for retirement is West Virginia, where the average annual cost during retirement years is $33,388.

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