5 Best States to Retire in The US Financially

3. Kansas

IM Retiree Affordability Ratio: 1.12

Average Hourly Earnings: $29.87         

Average Social Security Payout: $1,887.08 

Estimated After Tax Total Income: $2,914

Cost of Living Index: 87.1    

Adjusted Cost of Living: $2,613

The cost of living in Kansas is 12.9% lower than the national average, which implies that the state is affordable for retirees to live in. However, Kansas is one of the states that still tax Social Security benefits in 2024. Yet, this state manages to make it to our list because Social Security is taxable for taxpayers with an AGI of $75,000 and above and most retirees don’t make this much.