Kentucky – Retirement Guide

Kentucky   Retirement Guide

Not a fan of the Derby? Never drank a Mint Julep? Hate bourbon? No problem! Kentucky’s charms are far greater than being home to America’s most famous horse race and the majority of the nation’s bourbon producers. Though, let’s be honest — those things are pretty awesome, too.

The Bluegrass State lies nestled into the foothills of the Appalachian Mountains, which lend it a green, rolling landscape, dotted with hundreds of horse farms sprawling across undulating hills. The state earned its nickname thanks to the acres of fields rustling with uniquely colored grasses, and it’s expected that many residents here chose to spend as much time as possible enjoying the state’s vistas and outdoor activities, like hiking, bicycling, bird watching and fishing.

Still, Kentucky is also an affordable retirement destination. The cost of living is 12% lower than the national average, while the median home price is $122,700. The state also offers a number of tax benefits to retirees.

Pros: Beautiful landscape, outdoor activities, small college towns
Con: High unemployment

At a Glance:
Best For: Outdoor lovers
Population: 4,380,415
Cost of Living: 12% lower than national average
Median Home Cost: $122,700
Unemployment: 8%
Top State Income Tax: 6%

Social Security income is tax exempt, as are federal, state and private pensions up to $41,100.

A number of small college towns attract retirees, including the funky town of Berea, which is one of the the fastest growing towns in America, and Bowling Green, which has been ranked as a good value town for retirees.

Photo by  PandamicPhoto.com via Flickr. All statistics were up to date as of publication. See these sources for the most current data.