What are the Best States to Retire in? Like anything in life, depends what you are looking for.
Retirement is a time that most people look forward to because they have finally reached the end of one journey – the “gotta go to work” years!
When you retire your life takes on a whole new meaning. Therefore, it is important that you have fully prepared to sustain your lifestyle in your remaining retirement years.
Many people who reach retirement often relocate to a new place. There are a number of things to consider such as: population, senior communities, home prices, weather, and state income taxes.
Florida is a haven for people that have reached retirement. Florida is one of the few states that does not have a state income tax. Florida is also one of the states that have been greatly affected by the housing market slump. This means you can find houses which are greatly reduced in price. Florida is a true buyers market. Additionally, Florida has beautiful weather with plenty of places for outdoor activities.
Arizona is another state that offers many benefits to individuals ready to retire. The state income tax is below five percent. Surprise, AZ is one of the fastest growing cities and destinations for retirees. Home prices are also at an all time low with the average price of a three bedroom home ranging in the $150,000 price point. Arizona has many top notch medical facilities with some of the best medical staff in the country.
Texas is a large state that has become a major attraction for people entering into retirement. As with Florida, Texas has no state income tax. The cost of living is favorable and homes are priced affordably. The average three bedroom home sells in the price range of $220,000. There are plenty of activities and things to do and the weather is beautiful.
Personally, I like Nevada
as that is where we vacation year after year. They also have no state
income taxes, beautiful sunshine days (and you simply move from
air-conditioning to air-conditioning in the hot hot summertime, or go
back to your home state for a vacation!)
p.s. Do consider
state income taxes if that's important to you.. one Michigan couple
suddenly paid AZ state taxes on their MI pension, which was previously
tax free in MI.
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