Report: New Mexico ranked 31st overall for retirement

New Mexico is just one of 9 states that imposes a tax on Social Security. But, as we know, retirement is about more than “just” taxes. Of course, taxes DO matter, but how does New Mexico stack up overall as a retirement destination? A new Wallethub report ranks the Land of Enchantment 31st overall. The report included multiple variables including: affordability, quality of life, and health care.

On affordability, New Mexico ranked 20th, quality of life a disappointing 45th, and health care 35th. Not surprisingly, crime is a big drawback to our overall quality of life and not ALL variables apply to ALL retirees, but the report does a solid job of looking at various considerations that might impact retirees in their decision-making process.

And, while “affordability” may have been our best category analyzed in the report, doctors pay taxes too. Reducing tax burdens (including our gross receipts tax which burdens seniors with taxes on needed services) with our multi-billion dollar annual surpluses would seem like a wise move on both fronts.