Should You Retire in Kentucky?
If you're a fan of horses, low living costs, and all that Mother Nature has to offer, the state of Kentucky may be the right place for you to retire. Conversely, if you thrive on the hustle and bustle of densely populated metropolitan areas, the Bluegrass State might not be for you.
Life's a little slower than average for most of the state's 4.5 million residents, but it's also cheaper. Depending on the expense in question, costs range from 10% to 20% less than the national average. Housing is particularly affordable compared to most other states.
Taxes are modest too. This year's top marginal income tax rate is 4%, and Social Security income isn't taxed at all. The first $31,110 of other retirement income (from pensions, 401(k) accounts, IRAs, etc.) is also exempt from taxation. Statewide sales tax on most goods stands at a reasonable 6%.
Source Fool.com
