Knoxville News Sentinel – Prepare to say howdy to new neighbors, because Tennessee’s reputation as a good place to retire just got yet another boost.
In a new report, Kiplinger, a publishing company that specializes in personal financial advice and business forecasts, rates Tennessee the fourth-best state for retirees.
The report touts Tennessee’s affordability — rating it “tax friendly” while estimating the state’s cost of living to be 2 percent below the U.S. average and its health-care costs for a retired couple to be below average at $376,365.
“Every major metro area offers below-average living costs in almost every category of expenses, including health care and taxes,” Kiplinger reports.
“And being economically healthy, Tennessee should have no issues maintaining its tax-friendliness; it ranks eighth of all states for fiscal soundness, according to a recent report from the Mercatus Center at George Mason University.”
Some 923,000 of Tennessee’s 6.5 million residents (14.2 percent) are age 65 or older.
“To be named as one of the top five retirement destinations in the country is an accolade of which we can be proud as we continue to build awareness,” said Commissioner Kevin Triplett, Tennessee Department of Tourist Development, in a statement issued today. “We continue to tell the story of our low cost of living, no state income tax, low property taxes, four mild seasons, incredible quality of living and breathtaking scenic beauty through the Retire Tennessee program and people are noticing.”
