A new study shows the Mountain State region is the most affordable for retirees.
Yellowstone Public Radio’s Orlinda Worthington gives us the most - and least - costly places to retire.
A new study shows the Mountain State region is the most affordable for retirees.
Rising healthcare costs and living expenses led to affordability being the top criteria with people who are choosing a place to retire according to a study by Seniorly, a senior living online resource.
Wyoming ranks as the most cost-effective for retirees in the U.S.
The state’s ranking is supported by its favorable cost of living, Medicare expenses, a low senior poverty rate, and most homeowners allocate less than 30% of their income toward housing expenses.
Also, Wyoming has no state income tax, which makes it financially attractive for retirees.
Utah ranks second and Montana third for most financially-friendly states to retire.
That might surprise some, as Montana boasts living costs that are slightly higher than average, but the study says the state compensates for the higher costs through lower Medicare spending per beneficiary, reduced home utility costs, and lower senior poverty rates.
