Moving for your retirement years is a pretty big decision. Not only do you have to decide whether or not to leave your home state, you also have to choose which new state is right for you. There are a ton of factors that go into this decision: proximity to family, cost of living, taxes, weather, and so much more.
To help narrow down your search, we put together a list of a few of the best states to live in for seniors and retirees. Do any of these states rank on your list of favorites?
It should come as no surprise that Florida made it on our list of best states for retirees! With affordable housing, accessible hobbies year-round, and warm winters, seniors and retirees can’t go wrong.
According to the stats, Florida is a go-to state for seniors in retirement. Over 20% of the state’s population is over age 65. This means an abundance of retirement communities and plenty of programs just for seniors and retirees.
Plus, with no income tax in the state, cost of living is fairly low, giving you more opportunity to pursue hobbies and other goals in your golden years. While many of the most popular areas of Florida are booming with tourism crowds, there are plenty of options for a quiet retirement filled with beautiful views of the oceans and Florida’s green landscape.
New Hampshire is the perfect state for seniors who want it all! The state offers all four seasons and a variety of landscapes, including beaches, lakes, mountains, cities, and countrysides.
Seniors living in New Hampshire can enjoy the safety and peace-of-mind of the rural areas and excellent support services. Plus, there are readily available activities and social groups.
What makes it at the top of the list for best states for seniors to live? There is no income tax on your retirement income! Additionally, housing is affordable for most, but you may have to watch out for the real estate transfer tax.
South Dakota may sound like an odd choice for retirees, but the truth is that it is one of the most affordable states for seniors to live in! In addition to low living expenses, including for healthcare, South Dakota is one the best states for seniors' taxes.
Plus, the state offers a ton of options for retirees to stay socially active. South Dakota and its beautiful countryside have a lot to offer the senior that’s ready to explore. If you choose to relocate to South Dakota, Black Hills National Forest, Badlands National Park, and the Mount Rushmore National Memorial are all right in your backyard!
The best option on our list for the outdoorsy-senior, Colorado offers a stunning backdrop for your retirement. While the percentage of retirees in this state is a bit lower, you will never get bored in a state with as much to explore as Colorado.
In addition to loads of hiking, skiing, biking, and swimming opportunities, Colorado also offers a rich culture of museums, restaurants, and events venues. Furthermore, Colorado residents experience a high quality of life and access to healthcare options.
Colorado has been booming in recent years, and it's becoming an ever increasingly popular retirement destination, whether you're looking for a small town feel or large city living.
Another great option for our active seniors, Utah has a plethora of national parks and other wonders to explore in typically great weather.
Plus, the state has great healthcare options, low crime rate, affordable living costs, and low taxes.
All of these perks lead to a high quality of life and a life expectancy rate that is higher than the national average. Fresh air really makes a difference!
With a warm climate the majority of the year, Georgia is an all-around great place to call home.
Retirees get to take advantage of other perks like a low cost of living, affordable healthcare expenses, and a favorable tax situation. Plus, Georgia offers a beautiful green landscape and the best of both worlds with thriving cities and lush countryside.
Wherever you end up in your retirement, Plan Advisors is here to help. Did you know that most Medicare plans can't move with you?! If you're considering relocating to a different state, make sure you talk to a local Medicare Advisor!
Your long-awaited retirement years are coming up, but before you can start enjoying your retirement lifestyle there are a few things you need to prepare for. With a little planning you can ease into retirement with as little stress as possible. Keep reading to learn 4 simple ways you can begin planning for retirement now.
The first step to retirement planning is figuring out what it is you want to do during retirement. You may have certain goals you want to accomplish in your retirement, such as traveling, downsizing, relocating to a new state, or picking up a new hobby, but reaching your retirement goals can feel daunting.
Before tackling a mile-long list, you need to prioritize your goals. Prioritizing your goals can mean looking at what matters most to you as well as your timeline, finances, and other factors.
Once you've prioritized your goals it will be easier to then determine how you are going to accomplish them. Consider your post-retirement priorities with a friend or family member so they can encourage you and help keep you accountable as you work towards them!
Reaching retirement is a huge milestone, but it can also be stressful, especially when looking at your finances.
Getting organized, however, is one of the first steps to making your retirement finances a little easier. Assessing your financial situation can include estimating your expenses and debts, 401k, and social security.
If you're not already in the habit of budgeting and monitoring your finances, it's never too late to start. Most seniors live on a fixed income during retirement, which makes planning for your income and expenses each month important.
Additionally, if you're planning on relocating or traveling frequently in retirement, there are important financial aspects to plan for as well.
Consider meeting with a financial planner who can help you review your finances and plan for retirement.
Making healthy choices, like eating better and staying physically activity, can lead to a long and healthy retirement, but there are a few other factors to consider as well.
Even if you're relatively health right now, it's important to consider your future needs. Take a look at what you think your future healthcare costs might be and what Medicare coverage options are available to you helps you prepare for the years to come.
If it's been a while since you've visited your primary care provider, now is a good time to make an appointment for a routine checkup. Evaluating your current health can equip you to find a Medicare plan that is right for your needs.
It's never too early to start planning for retirement, and if retirement is in your near future then now is the time to get a jump on the tips above.
Our team is here to help you with your Medicare planning. Most seniors don't know exactly when they are eligible to enroll in Medicare after retirement. Talk to a Medicare specialist today to make sure you take advantage of your Special Enrollment Period.
If you're retiring soon, it's important to make sure you have a plan for transitioning from Employer Health Insurance to Medicare. Talk to a Medicare Advisor who can help ease the transition and give you confidence in your coverage.