Alabama
When you think about retirees relocating for their golden years, the most common state that comes up in people’s minds is Florida. Yet, it is not always the best fit for everyone (and definitely not the cheapest one), and you should not assume that it is the holy grail of retirement spots. If you are interested in the Sunshine State, you should also give its neighbor Alabama some attention because a lot of people are choosing it over Florida lately.
This could be because you can save more money by choosing Alabama’s Gulf of Mexico over Florida’s ocean outreach, as you will be able to enjoy the benefits of all the sun and water activities here with no issue. The main reason people choose Alabama is that they are extremely tax-friendly, with some of the lowest property taxes in the country, and the state is also one of the 38 that will not tax retirees’ Social Security benefits. It already puts the state on the map as one of the cheaper states to reside in!
Other types of income will be taxed, however, and the rate is anywhere between 2% and 5%, so it will not be too much of a burden on you.
Yet, if you have your eyes set on Florida, we got you covered! Read all about the best neighborhoods you can relocate to in the Sunshine State!
