THE ENVELOPE PLEASE… Every year, Kiplinger’s publishes a list of the best and worst states for retirees. It makes perfect sense that my parents live in one of the best… and I live in one of the worst!
The publication considers the share of each state’s population that is age 65 or older, as well as average income, average cost of living, and average healthcare costs for older Americans (relative to the national average). The economic health of each state and its citizens, and the taxes imposed on retirees also are considered.
For 2016, the best states for retirees include:
- South Dakota
- South Carolina
The worst states for retirees include:
- New York
- New Jersey
- Rhode Island
Interestingly, taxes weren’t the most important factor in determining the states where retirees might be happiest. Just four of the most tax-friendly states in the nation made the list of best places to retire. Utah, Tennessee, Alabama, South Carolina, and Washington were all in the tax friendly category, while Idaho fell into the mixed group.
Weekly Focus – Think About It
“If a country is to be corruption free and become a nation of beautiful minds, I strongly feel there are three key societal members who can make a difference. They are the father, the mother and the teacher.”
–A. P. J. Abdul Kalam, Former President of India