The Best States to Retire In
Oftentimes when considering retirement, we think about when and how we’re going to retire but just as important is the question of where we’re going to retire! From tax rates and affordability to community and quality of life, there are a variety of factors for you to consider when deciding where you’re going to settle down. To get you started, we’ve compiled a list of some of the top states to retire in:
Widely regarded as a great place to retire, Florida tops our list due to its warm weather and affordability. Florida is a great place to retire as it has no state income tax, meaning there are no state taxes on Social Security benefits, IRAs, 401(k)s, and other sources of retirement income! Enjoy the mild winters, sandy beaches, and low-cost housing in a state with one of the greatest retirement populations in the nation.
Looking for another state with no state income taxes, then Tennessee could be the place for you! With its natural beauty and mild weather, Tennessee is a great place for someone ready for an active adventure or a calm lifestyle. The cost of living is low with average housing, food, and transportation costs below the national average, but you’ll find no lack of community here!
While the south is great, settling down there might not be for everyone. Delaware is another state with no state income taxes and some of the lowest property taxes in the country. It also has some of the top healthcare facilities which make it a top retirement state for those entering retirement. Delaware is full of quaint towns and stunning beaches where you can rest without getting bored.
Colorado is a dream for lovers of the outdoors with its majestic mountains and beautiful sceneries. In the cold season, you can ski and in the warmer months, you can hike at some of the best state parks in the nations! Not to mention, Colorado has over 100 hospitals, many of which are nationally ranked.
With no Social Security tax and warm weather, Georgia is another solid choice to consider when contemplating where to retire. Costs of living are low, but the quality of life is high thanks to several teaching hospitals that attract excellent doctors. Georgia has everything from beaches to forests to cosmopolitan cities. The southern hospitality is just the cherry on top!
At Insight Wealth Strategies, we work to help you secure financial future so you can retire anywhere you like! Check out our website to request a consultation with one of our financial advisors today.
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Insight Wealth Strategies, LLC (IWS) and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.