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County eighth in state for Social Security

 

August 28, 2019

The financial data website SmartAsset calculates that Klickitat County is eighth among Washington counties for best mileage from Social Security benefits.

The site's methodology started with the question: contemplating where to spend your retirement years? "While it's certainly advisable to have some retirement savings of your own to help pay for your golden years, if you will be relying mostly on Social Security benefits, this study can help," the site reported. "We analyzed where in the U.S. Social Security benefits will go the furthest.

"First, we looked at the average Social Security income for each county. Then we calculated the taxes a typical retiree would pay on that income based on the state-specific Social Security tax rules. We subtracted the taxes from that average Social Security income to determine the net income from Social Security.

"Next, we calculated how far that net income would go in every county to cover the basic necessities. We subtracted the county-level cost of typical living expenses from each county's net Social Security income. Finally, we indexed the results to 100, with 100 showing where Social Security would cover the most needs. Higher scores reflect a better environment for living primarily or exclusively off of Social Security benefits."

See the complete SmartAsset report at: https://smartasset.com/retirement/social-security-calculator#washington.

 

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