With any investment in a client’s portfolio, advisors should do their due diligence on the risks and rewards and on the person or company managing the money. But as WalletHub’s latest ranking shows, a client’s state of residence is also an investment, requiring some due diligence.
Each state has its tradeoffs. Some may have much higher taxes, but residents may enjoy better quality government services. So where can clients get the best bang for their taxpayer buck?
To rank the states, WalletHub compared state and local tax collections with the quality of government services, measured across education, health, safety, economy and infrastructure and pollution.
For example, Connecticut has the best water quality, but it has the second worst roads and bridges in the country, according to the analysis. New Jersey has one of the lowest percentages of residents in poverty, yet it is also among those with the worst hospital systems.
Flip through to find out which states have the best and worst taxpayer return on investment.