State With No Retirement Income: Washington
- Percent of 65 and older population: 12.8%
- Income Tax Range: None
- Social Security: None
- Inheritance and Estate Taxes: No inheritance tax
- Median rent per month: $1,250
- Utilities: $120
- Meal at average restaurant: $12
If you’re in love with a good cup o’ Joe, you should consider retiring in this state. But if you’re not impressed by the coffee, maybe you’ll love the fact that the Evergreen State has NO retirement income tax.
That means that none of your 401(k), IRA, or pension income will take a state tax hit. A study found that Spokane is one of the most budget-friendly places to retire in Washington, but it’s also one of the 50 most low-cost places to retire in the country.
Also, it has the highest percentage of adults 65 years and older among the three cities surveyed in Washington. This city in eastern Washington can offer more cost-effective living costs for retirees than the state’s two other most prominent cities.
The average monthly rent and cost of utilities are more affordable here than in Seattle and Tacoma.
I am retired from the State of Texas thru ERS and I am taxed on my retirement and there is all taxes on Estate and inheritances.
How is Tennessee not listed? Maybe I missed it?
I live in Ohio, retired widow for 27 years, had to work because husband died at 48, lost my pension in Steel mills I am still taxed to death because I had to work longer to pay off all his medical bills, and no pension and to build up my Social Security. You cannot get ahead in this state. We are taxed to the hilt here. Tough for retirees to survive.
why not states need taxes broke for senior citizens that retired don’t think we live o fixed income to
Indiana does tax social security. Indiana taxes social security as frderal irs does