piggy bank

Seven states top all others in percentage of older residents who have retirement income, according to data from the U.S. Census Bureau.

Using 2016 data, the bureau divided states into groups and, based on the divisions, found seven states where at least 42% of those aged 65 or more years have retirement income:

  1. Michigan: 45.1%
  2. Maryland: 44.9%
  3. Ohio: 43.7%
  4. Virginia: 43.4%
  5. Delaware: 43.3% (tie)
  6. West Virginia: 43.3% (tie)
  7. Washington: 42.9%

Maryland had the highest percentage of residents aged 75 to 84 who have retirement income; 48.5% of state residents in that age group had such income.

West Virginia had the highest percentage of residents aged 85 or more years who have retirement savings; 50.8% of state residents in that age group had such income.

The growth of the U.S. population aged 65 or more years now exceeds that of the total population as well as the popula­tion aged fewer than 65 years, according to the Census Bureau.

The eight states with the highest percentages of their residents aged 75 or more years, the agency said:

  1. Florida: 8.8%
  2. Maine: 7.9%
  3. Pennsylvania: 7.7% (tie)
  4. West Virginia: 7.7% (tie)
  5. Montana: 7.2% (tie)
  6. Vermont: 7.2% (tie)
  7. Delaware: 7%
  8. New Hampshire: 6.8%

Use the bureau’s interactive map to learn more.