A lot of importance is put on “when” one would retire as compared to “where” one would retire. On that note, it is logical that we look into the best states for retirement. Given the fact your income would face a drastic decline, the rising cost-of-living should rank high among your concerns. Therefore, it is important to decide on the best states to stay in post retirement. One should consider the overall affordability, tax friendliness, and inexpensive health care which cannot be neglected given the old age. These factors will end up playing a significant role and ease your savings. Let us look into the best states for retirement that have been consistently ranked high when it comes to the choice of stay for the golden years.
Usually topping the charts, over a spread of several years, is South Dakota; the most tax friendly state for post-retirement. Affordability is the main factor that helps it consolidate itself on the top-most position in the best states for retirement. Adding to it are low living expenses, including that of health care. The state is also fiscally sound.
Utah, the beehive state, is also considered a pretty amazing state for retirees to head to. Utah boasts of low living costs that outweigh the otherwise unfriendly tax cuts. This state also ranks very low in the levels of poverty. Home to several national parks, national monuments, and forests, Utah has numerous options for recreation for seniors and hence can be considered as one of the best states for retirement.
Another Southern state that is a splendid hub for retirees is Georgia. The low living costs coupled with the warm and cozy weather make it a happy retirement destination. In particular, the health care expenses are in the affordable limits. As said earlier, it is, in fact, a major factor that has to be taken into consideration.
The list of best states for retirement further includes Tennessee, Alabama, South Carolina, Washington, Florida, Arizona, and Idaho among many others.