10 Best States To Work For People Over 65 To Still Make $50K-Per-Year
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What are the best states to work for people over 65? Here’s a breakdown of the ten places older adults can still make a strong salary deep into their senior years.
According to the U.S. Bureau of Labor Statistics, 10.6 million Americans age 65 and older are currently in the workforce.
The organization estimates that by 2030, that number will surge to 16 million, with the biggest increase being people aged 75 and older finding employment over the next decade.
As the stats show, older people are putting off retirement – and sometimes not retiring at all – and instead choosing to spend their “golden years” still collecting a paycheck.
While millions of Americans will struggle to find ways to make money in their later years, the opportunities are plentiful in certain states with larger populations of people over the age of 65.
A recent study done by Seniorly.com highlights the best states for working seniors, specifically where people over the age of 65 can still make a good yearly salary. The website compared Census, CDC, and Tax Foundation data for every state across five categories including labor force participation for older adults, income, taxes, healthcare, and life expectancy.
Best States To Work For People Over 65
Here are the ten best states to work for people over 65, according to the Seniorly study, along with some key findings for older adults to consider about the state in which they live.
State | Percentage of Senior Households With At Least $50K Income
- Hawaii – 63.6%
- Maryland – 58.7%
- Alaska – 58.6%
- Utah – 57.6%
- Washington, D.C. – 57.4%
- New Jersey – 57%
- Delaware – 56.4%
- Connecticut – 56%
- California – 55.5%
- Colorado – 55%
This map gives a quick overview of the best – and worst – states for older workers.
MORE KEY FINDINGS
Wyoming had the best overall score in the analysis, ranking in the top half for every category except life expectancy, where it was 30th. Along with several other states, Wyoming levies no personal income tax, and more than 98 percent of those over 65 are on Medicare, which gives Wyoming the advantage.
South Dakota, another state with no income tax, took second, while income tax-less Washington and Alaska tied for third. Virginia was fifth, while North Dakota, Colorado, Hawaii, Virginia, and Nebraska rounded out the top 10.
The worst state for older workers is Kentucky, according to Seniorly’s analysis. Though the commonwealth ranked fourth when it comes to the percentage of older adults covered by Medicare, it ranks at or near the bottom for life expectancy, income, and labor force participation.
To read the entire report on the best and worst states for older workers, head over to Seniorly.com.