Takeaway:
Every retiree who travels outside of their home state usually wants to settle in locations that have friendly taxes, better weather compared to where they lived before, and plenty of cultural and recreational opportunities because a lot of them are not going to live in the same locations where their families live.
And then comes a need for making new friends and a community of other elderly people that will help them adapt as smoothly as possible. Before taking a big step into retirement life, make sure you will spend some time in places where you want to live before you actually move there. The best advice we can give is that you should definitely go to various places and see what you are attracted to.
Also check which places have a lower cost of living and lower property taxes. A better option is to try to rent a place before actually moving to that place. In your opinion, what are the states that offer a plethora of benefits for retirees? Are you lucky enough to live in one of them?
If you really enjoyed reading about this topic, we suggest you check out other articles on our page too! Our first pick is 7 Things Happy Retirees Have in Common.
Note: South Carolina does NOT tax retirement income such as Social Security or Military Retirement. That being said – property taxes have been climbing at an astronomical rate and home insurance has almost doubled in the last year. I may have to sell my house within the next 6 months and start renting.
Heaven knows it’s run but Communists now, but being 74 and having been here since1963, I’m not leaving California (the weather, the natural beauty, redwoods anyone?) no matter what ever you champion!
I was surprised to not see Texas listed. It has a low cost of living. I moved here because of marriage, but I miss the West Coast. I agree with others that the Northwest offers the best lifestyle, temperate climate and accommodating political atmosphere. It may not be the cheapest place to settle but it isn’t expensive either, and healthcare is great!
Tucson AZ. I am relatively new here and I’m retired and loving it. I’m in my very early 60’s.
I love most things about living here. This winter was wonderful, it rained a few times and snowed once, but of course didn’t accumulate. Yeah. It gets hot in the summer, dry air, not humid like New Hampshire, my home town State.
I’m happy living here. I made the right choice, I love my house and my 2 acres of land, love living on the outskirts on a dirt road, the people are nice, doctor’s are awesome, my 2 dogs are healthier and happier, shopping is great, taxes suck tho lol, not used to taxes on just about everything, so many places to go omg, beautiful scenery, I can go on.
If you’ve never lived here or never visited AZ, don’t comment negative things, because you’re clueless. I’m happier and extremely content living here after living in New Hampshire all my life, I should of moved here years ago.
When you choose a location, be very aware of the crime rate.
You left out the 8th state.
Money and cost of living is not everything, I would prefer not to live in anti American Red States with the lowest standard of living and education and crappy healthcare even if it costs more. I will take the pacific northwest any time over the south. It costs more but weather,services and healthcare are best in country.
OK, enough with how great NH is for tax purposes. The state has a flat take on unearned income, read that as interest and dividends etc. It has no income tax on earned wages. As a retired person I do not have earned income, hence no savings by not having an income tax on earned income.
The current tax on unearned income is being phased out, but until last year was 5%, not nothing.
Before you relocate study the state taxes, it is far more involved than just reading some silly chart on income taxes that get published all the time.
Poorly researched since you omitted Georgia. In addition to no State taxes on retirement income, there are several counties in the Metro Atlanta area where at age 62 you are eligble for an exemption on the school portion of you property taxes resulting in a big reduction as long as you do not have children in grade or high school.
Add in the low cost of living, the fact that you have 4 seasons with enough winter that you don’t miss it if you’re from the North but not enough that you get sick of it and the eventual elimination of State income taxes over the next 5 years and I can’t think of a better place although Florida is a close second.
Most of the states selected have real drawbacks, Florida has hurricanes, humidity, bugs, snakes, alligators. Mississippi has the same. Delaware, New Hampshire have terrible winters and high humidity in the summer. The Pacific Northwest probably has the most comfortable weather conditions, yet none of them are mentioned.