Retiring on a Budget? Here’s Why Kentucky Should Be Considered

Thinking about retiring without breaking the bank? Kentucky might be your ideal destination. Here's why!

I Moved to Kentucky and Never Looked Back

Are you getting close to retirement? You've worked your entire life and deserve to make the most of the time and health you have left. Early retirement gives you more time to travel, pursue interests, spend time with family, and avoid job burnout. Of course, the big question is: Can you afford it? With planning, many people can. My husband just retired, and I’ve seen firsthand the transformation with less stress and mornings that begin with a smile. The work weight has been lifted from his shoulders. Although I’m still a few years away, I’m already dreaming of a slower, simpler life. How about you? What does your next chapter look like?

Kentucky Ranks Among the Top 5 Most Affordable States to Retire in 2025

According to a recent study by NetCredit, Kentucky ranks as the 5th most affordable state to retire in the U.S. for 2025. With a comfortable retirement estimated to cost just $737,264, well below the national average, the Bluegrass State is a good place to settle down. The Commonwealth is often considered an affordable state for retirement due to its low cost of living, affordable housing, and favorable tax policies. The state’s natural beauty, central location for travel, and relaxed pace of life make it an appealing place to enjoy your golden years. I moved to Kentucky from Michigan in 1994 and never looked back. While I still miss my family up north, I’m grateful to be retiring in a place I proudly call home.

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Kentucky Faces Challenges for Retirees to Consider

While Kentucky offers many advantages for retirees, it's important to consider the challenges identified by WalletHub's recent report on the best and worst states to retire. Kentucky ranks 50th overall in retirement rankings affecting quality-of-life factors. Despite a low cost of living, the state faces challenges with healthcare access, ranking 47th in life expectancy. Additionally, the annual cost of in-home services ranks 43rd, which could impact those needing extra care. For those planning to retire, weigh these potential downsides against the benefits of affordability and a slower pace of life.

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Once you do that, I feel the good will outweigh the drawbacks, and you'll be eager like me to call Kentucky home!

LOOK: These are the 100 best cities to raise a family

Stacker collected 2023 data from Niche to compile a list of the top 100 cities to raise a family, based on school systems, crime rates, and more.

Gallery Credit: Emily Sherman

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

Gallery Credit: Bethany Adams

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