WEST VIRGINIA — Retirement Living is an organization focused on providing senior-aged citizens with resources and information regarding retirement opportunities. They recently conducted a study to determine the “Best and Worst States for Retirement in 2021,” which projected West Virginia as the 3rd best state to retire.
Jeff Smith with Retirement Living explained, “To determine which states are the best and worst for retirees, we evaluated the cost of living, quality of life, and healthcare metrics for each state. In addition to publicly available data sources, we surveyed over 1,700 consumers across the U.S. about how they would rate their state.”
Surpassed only by Florida and Texas, West Virginia ranked 3rd of the 10 best states to retire. Studies determined that more than 20% of the state’s population is 65 or older. One of West Virginia’s biggest contributor was the fact that the cost of living is very affordable, with low property and sales taxes. West Virginia’s senior care homes are affordable, and the West Virginia University Health System provides health care and dental care to senior citizens throughout the state. The Mountain State was also recognized for offering low property and sales taxes.
One negative attribute mentioned when living in West Virginia was the lack of things to do during the winter months. In addition, some contributors in the study explained that income taxes are high for some residents in the state, but West Virginia is reportedly working to phase out the tax on Social Security income.
The good greatly outweighed the bad, making West Virginia one of the best states to settle down and enjoy retirement. Smith explained, “To determine that West Virginia was in the top 10 best, we normalized and weighted each data point based on greater or lesser importance. The weighted scores were combined to produce the final rating.” West Virginia is great for many things and retirement is definitely one of them as it was recognized with a 9.12/10 rating from Retirement Living’s study.