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Old 07-13-2019, 05:17 PM
 
13,261 posts, read 6,273,277 times
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This is published by Bankrate taking into consideration cost of living, crime, weather, among other important factors. When put all together KY came out in 6th place doing better than TN and other states many people are retiring to. Not too bad.

https://www.bankrate.com/retirement/...or-retirement/
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Old 07-13-2019, 07:55 PM
 
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This link shows state by state, how long will $500,000 last in any state. Quite a range from 5 years and a few months to 11 years and a few months. Wisconsin is the midpoint at 10 years and 3 months.


https://www.msn.com/en-us/money/reti...cid=spartanntp
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Old 07-15-2019, 07:51 PM
 
Location: Stone Oak, San Antonio
824 posts, read 640,860 times
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Quote:
Originally Posted by marino760 View Post
This is published by Bankrate taking into consideration cost of living, crime, weather, among other important factors. When put all together KY came out in 6th place doing better than TN and other states many people are retiring to. Not too bad.

https://www.bankrate.com/retirement/...or-retirement/
Well, the way that I tell this list is bogus is the ranking on weather. With FL = 2, and LA = 3. Humidity anyone? No way.
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Old 07-15-2019, 07:53 PM
 
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and hurricanes
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Old 07-16-2019, 07:33 AM
 
Location: Arlington, VA —> North Carolina in October
24,695 posts, read 35,182,673 times
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Since my mom is nearing retirement and wants to move back to Virginia after working in KY, I pointed out to her that Kentucky has an exemption for her military pension from tax which Virginia (which finished 39th on that list, deservedly so IMO) does not. Financially, Kentucky is a smarter option to retire, she just flat out don’t want to be there.
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Old 07-16-2019, 04:37 PM
 
Location: In the Pearl of the Purchase, Ky
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Back in the late 80s/early 90s, Murray and the Kentucky Lake area was Rand McNalley's top retirement place in the country. Still a lot of folks retiring to the lakes area
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Old 07-18-2019, 06:05 AM
 
Location: My beloved Bluegrass
15,886 posts, read 11,697,087 times
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Quote:
Originally Posted by The Dissenter View Post
Since my mom is nearing retirement and wants to move back to Virginia after working in KY, I pointed out to her that Kentucky has an exemption for her military pension from tax which Virginia (which finished 39th on that list, deservedly so IMO) does not. Financially, Kentucky is a smarter option to retire, she just flat out don’t want to be there.
While finances are very important in considering where to retire, it is not the only consideration. We made the reverse move of your mother in preparation to retire but finances, while part of the equation, were not the main consideration. That said, we have been very pleasantly surprised by just how much cheaper living here is, the 50 cents here, 25 cents there, nickle here really add up - in addition to the tax break on pension.
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When I post in bold red that is moderator action and, per the TOS, can only be discussed through Direct Message.Moderator - Asia and Kentucky (including Lexington & Louisville)
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Old 07-18-2019, 02:12 PM
 
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Quote:
Originally Posted by Oldhag1 View Post
While finances are very important in considering where to retire, it is not the only consideration. We made the reverse move of your mother in preparation to retire but finances, while part of the equation, were not the main consideration. That said, we have been very pleasantly surprised by just how much cheaper living here is, the 50 cents here, 25 cents there, nickle here really add up - in addition to the tax break on pension.
The military pension part is interesting as my wife has a military pension. How does KY treat social security payments? Are they taxed at the state level?
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Old 07-18-2019, 03:08 PM
 
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Quote:
Originally Posted by RockyMountainResident View Post
The military pension part is interesting as my wife has a military pension. How does KY treat social security payments? Are they taxed at the state level?
KY exempts Social Security income.

https://smartasset.com/retirement/ke...xes#T6cAYfySIq
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Old 07-19-2019, 11:35 AM
 
Location: Arlington, VA —> North Carolina in October
24,695 posts, read 35,182,673 times
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Quote:
Originally Posted by Oldhag1 View Post
While finances are very important in considering where to retire, it is not the only consideration. We made the reverse move of your mother in preparation to retire but finances, while part of the equation, were not the main consideration. That said, we have been very pleasantly surprised by just how much cheaper living here is, the 50 cents here, 25 cents there, nickle here really add up - in addition to the tax break on pension.
I get where you are coming from. I just think she has a situation that fits her needs now and I’d be lying if I didn’t have concerns about her moving back because of crime and COL. She ruled out returning to our previous part of VA (Hampton/Norfolk) because of issues with crime there, which I think was a good decision. She is in a place where money is not an issue at all and crime is much lower in Kentucky than metro DC. I know safe doesn’t necessarily mean fun or desirable. It is her decision, she’s earned it for sure.
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