5 Best States to Retire in The US Financially

This article takes a look at the 5 best states to retire in the US financially. If you wish to check out our detailed analysis on navigating retirement in turbulent times, you may go to the 15 Best States to Retire in the US Financially.

5. Missouri

IM Retiree Affordability Ratio: 1.10

Average Hourly Earnings: $31.11      

Average Social Security Payout:  $1,782.82

Estimated After Tax Total Income: $2,922

Cost of Living Index: 88.5    

Adjusted Cost of Living: $2,655

Missouri has been a good state to retire for taxes and cost of living, but the cherry on top is that the state no longer taxes Social Security retirement income. The cost of living in this state is 11.5% lower than the national average, and a retiree who works part-time would have an estimated 10% of his income saved after covering living expenses.