Study: Kentucky makes top 10 list of ‘Best and Worst States for Retirement’
LOUISVILLE, Ky. (WAVE) - While some look forward to it and others dread it, retiring is a significant milestone. The decision on where to retire is just as important.
A study from Retirement Living broke down the best and worst states for retirees.
Retirement Living ranked Kentucky as the 9th best state in the nation to retire; Indiana came in at 33rd on the list.
To determine their ranking, they calculated the cost of living, cost of care, the average income versus the average price of a home, and the percentage of people older than 65. Sixteen-point-four percent of Kentuckians are older than 65, and 15.8 percent of Hoosiers are over 65.
Fifteen hundred people across the United States were surveyed and asked how they'd rate their state.
Surveyees gave Kentucky brownie points because some retirees, such as veterans and government employees, are exempt from income taxes. They also boasted about the Commonwealth's weather and scenery.
The best state for retirees is Arkansas, followed by Florida and Alabama, according to the study. California was the worst state on the list, followed by New York, Alaska, and Rhode Island.
Copyright 2020 WAVE 3 News. All rights reserved.