Statistics compiled by The Motley Fool show that around 400,000 people move states when they reach retirement age. Some people move in search of cheaper living costs, others to live out their dream retirement scenario, and some simply want a change of pace. Regardless of the motivations, here are the top six great states for retirees to move to.
No matter what list you’re searching through, Florida is always noted as the best state for retirees. There’s no wonder really, considering it’s dubbed the Sunshine State and it has plenty of golf courses, stunning beaches, museums, theaters, and so much more to offer. On top of everything the state has to offer, there’s zero income tax in Florida, which means property prices are extremely affordable.
Illinois is an incredible state that captures everything from the magnificent Chicago to the state capital, Springfield. When retiring in Illinois, the low taxation rates for seniors is an obvious appeal. As well as this, there’s plenty to see and do, especially given the oceanic landscape and unique sights to see. To explore options in Illinois, you can click here to discover senior living in South Chicago.
If you’re in search of adventure during your retirement, look no further than Colorado. There’s a unique range of small towns and large cities, meaning there will be something to suit all tastes. For example, if trekking Mount Elbert sounds like your idea of fun, you’ll fit in just fine. If hitting enormous shopping malls sounds like a treat, Colorado also has you covered.
On top of being incredible in general, Colorado is another friendly state when it comes to taxing those of retirement age.
Deductions from retirement income and social security benefits are all safe from taxation in Virginia, making it the perfect choice for retirees searching for a cheaper cost of living. As well as this, WalletHub found that there are incredible provisions when it comes to healthcare on a budget.
On top of the retiree benefits in Virginia, there’s plenty to see and do, especially when you factor in the expansive countryside, jaw-dropping coastal landscapes, and close distance to large cities.
Missouri offers retirees a large choice of big cities or rural towns to choose from, which helps to make it fairly diverse. As well as this, the state often appears in “best of” lists when it comes to healthcare provisions and low cost of living.
Georgia is another great destination for those looking to find affordability, especially if milder weather is more appealing. With countless beaches and brilliant cities including Atlanta and Savannah, there will always be something going on in Georgia. As with many other retirement-friendly states, Georgia doesn’t tax state benefits and they give a tax-free allowance of $65k on retirement pots.
Moving to another state after retiring presents the perfect opportunity to have one last adventure before old age truly sets in. Whether you’re looking for true adventure or a more affordable life, the states listed above are all fantastic choices.