Along with warm weather and cajun cuisine, retired seniors can enjoy a low tax burden and affordable care options if they choose to spend their golden years in Sportsman's Paradise.
Louisiana is the fifth-best state for retirement finances, according to a report from SeniorAdvice.com. Seniors can affordably retire in the Bayou State while meeting their health and housing needs. Director of Community Relations Lori Thomas said analysts looked at a variety of metrics to determine the rating.
"We looked at overall taxes that people pay in-state, household income, property taxes, income taxes, everything financial in the state," Thomas said. "We also look at cost of housing for seniors and senior care facilities, and the cost of healthcare."
Along with warm weather and cajun cuisine, retired seniors can enjoy a low tax burden and affordable care options if they choose to spend their golden years in Sportsman's Paradise. Property and state income taxes are significantly lower in Louisiana than in other states, as well as living costs. Nursing homes, adult daycares, and home healthcare are more affordable compared to other parts of the country. However, Louisiana's annual household income of about $45,000 is just shy of the national average of roughly $51,000.
"Louisiana did great for the finance category," said Thomas, "You didn't do poorly in any of them except the average marker in the household income category. Everything else was above average."
Wyoming came in at number one followed by Virginia, South Dakota, and Alabama. California, Rhode Island, New York, Illinois, and Main are the least accommodating for retirement finances.
Read more about the report at www.senioradvice.com.
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