Percent of the population 65 and older: 8.4%
Median rent per month: $1,837Utilities: $295
Meal at inexpensive restaurant: $15
If you want to save money in retirement, Alaska is a great choice. However, keep in mind that senior care might cost you a small fortune — it’s one of the most expensive states for senior care services.
Still, retiring in Alaska can be financially beneficial. Not only can you escape state income tax by living in Alaska, but also you can get paid for living in this state thanks to its oil wealth. Residents receive an annual dividend from the Alaska Permanent Fund, which was created in 1976 to share the state’s oil income with people who’ve been a resident for at least a year before applying. The dividend currently is $1,100.
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