Earlier this year, Kiplinger ranked the 10 best states for retirement in 2016 based on “quantifiable factors that are important to many retirees.” Utah came in second place on this retiree-friendly list, just behind South Dakota and right in front of Georgia. While most of us can agree Utah is a great place to live for a variety of reasons, here are some reasons Kiplinger gives for Utah’s high ranking on the list.
Kiplinger’s rankings focused on the following three key factors while ranking all 50 states:
- Affordability – low taxes and health care costs for retirees.
- Health – both economic health of the state and the overall health of the population.
- Prosperousness of the age 65+ population.
Utah’s low cost of living (8 percent below the national average) helps offset a particularly unfriendly tax law – the taxation of Social Security benefits. Health care costs in Utah for a retired couple are well below the national average.
Kiplinger noted Utah’s many outdoor recreation options as a great way to stay active in retirement. According to the United Health Foundation, Utah ranks fifth in the nation for the overall health of its 65+ population.
Prosperousness of 65+ population
Utah’s poverty rate for people 65 and older is the fourth-lowest in the U.S. At $49,996, Utah’s average retirement-age income comes in as the second-highest of all states in the top 10.
Are you one of our local retirees? What do you like about living in Utah?