Retirement can be a costly proposition, so if you’re looking to choose states to retire in, it could be a long and exhausting research process. This is because all the elderly individuals want to spend their golden years peacefully with family and friends. Before finalizing the state that you would like to settle in, here are some of the important factors that you should consider.
Cost of living For most retirees, cost of living is an important aspect post retirement. This is because majority of them will be living on a fixed monthly income. This automatically translates to a limited spending capacity. Whichever state you pick to settle in, should have flexible laws in terms of tax and a reasonable pricing system for housing and retail businesses.
Healthcare system An organized healthcare system is very crucial for you because as a retiree as you are more susceptible to medical problems. Make sure that your chosen state has convenient as well as people friendly healthcare laws and institutions.
Crime statistics Older individuals often feel anxious about moving to new place, especially if they are going to be living alone. Ensure that you are moving to a city that has top-notch safety services and a friendly local community.
Culture, climate, and current social scenarios are other factors that are somewhat instrumental for making a decision. Retirees are also concerned about factors such as close proximity to kids, relatives and friends.
Based on these factors, some of the best states for retirement are:
- New Hampshire – New Hampshire, has a great culture and healthcare system. It also has great taxation laws as well as low crime rate.
- Colorado – The beautiful state of Colorado has high quality healthcare system and an amazing social culture.
- Iowa/Maine – Iowa and Maine are amazing locations for senior individuals as they have a brilliant healthcare infrastructure and low crime statistics as well.
- Minnesota – Even though Minnesota is high in terms of taxes, it is viable choice for retirees because of great healthcare quality, culture and low crime rates.
Apart from these locations, the other popular states for retirement are Virginia, Massachusetts, South Dakota, Wisconsin and Idaho.
It is impossible to label one state as the best one, as no two retirees are the same. Some may fancy the rain, some may crave for sunshine. So basically, it doesn’t matter if you are an ocean person or a mountain lover, choose a place that will give you the one thing, i.e. comfort which seemed to have evaded you for so long.