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If you're banking on Social Security consider Hunterdon county

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Hunterdon, Morris and Somerset counties lead the way for getting the most bang for your buck if you’re living primarily or exclusively on Social Security income.
Hunterdon, Morris and Somerset counties lead the way for getting the most bang for your buck if you’re living primarily or exclusively on Social Security income. - ()

On the heels of its ranking Hunterdon as the New Jersey county with the lowest credit card debt, SmartAsset has revealed it also ranks No. 1 for where residents can expect their Social Security benefits to go the farthest.

To determine their rankings, the financial technology company calculated net income using the average social security income for each county and the taxes a “typical retiree” would be required to pay based upon that income.

SmartAsset also determined the reach of each income in its county and indexed the results to 100.

The higher a county’s Social Security Index, the better suited the county is for living off of Social Security benefits. Here are the results:

1.  Hunterdon
Cost of living: $25,144
Annual Social Security: $22,377
Annual Social Security index: 91.41

2. Morris
Cost of living: $24,580
Annual Social Security: $21,788
Annual Social Security index: 87.98

3. Somerset
Cost of living: $25,144
Annual Social Security: $21,630
Annual Social Security index: 87.06

4. Sussex
Cost of living: $24,580
Annual Social Security: $20,956
Annual Social Security index: 83.13


5. Monmouth
Cost of living: $23,908
Annual Social Security: $20,805
Annual Social Security index: 82.24

6. Bergen
Cost of living: $26,632
Annual Social Security: $20,792
Annual Social Security index: 82.17

7. Ocean
Cost of living: $23,908
Annual Social Security: $20,785
Annual Social Security index: 82.13

8. Warren
Cost of living: $22,036
Annual Social Security: $20,433
Annual Social Security index: 80.08

9. Burlington
Cost of living: $22,636
Annual Social Security: $20,274
Annual Social Security index: 79.22

10. Cape May
Cost of living: $21,124
Annual Social Security: $20,274
Annual Social Security index: 79.15

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Jessica Perry

Jessica Perry


Jessica is the Web Editor for NJBIZ. You can reach her at jperry@njbiz.com.

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