When your working days are numbered, and the magical age to retire is almost in sight, you might want to consider where the best places to retire are so you can make the most of the money you’ve earned. While housing prices and taxes are usually at the forefront when considering the best place to retire, there are some other factors you should consider to make the move worthwhile. These include quality public healthcare, public transportation, green space, a sense of community, the ability to make new friends, and the weather.
While every state in the US has possible cities to retire comfortably in, there are a few states that stand above the rest. If you’re looking for the best places to retire in the US to keep your expenses low, check out these eight excellent states scattered around the country.
8. Minnesota
Ranking eighth on the best places to retire list is Minnesota, located in the Upper Midwest. While the winters can be harsh at times, the state is a popular retirement destination. Minneapolis offers access to several outdoor activities, a cultural scene, and a diverse community. Farther north, the state provides hiking trails, fishing, and hunting spots alongside Lake Superior. If you are concerned about healthcare, Minnesota is home to several highly-rated hospitals and healthcare systems such as the Mayo Clinic and the University of Minnesota health system.
–Featured Cities: Edina, Minneapolis, Rochester, Bemidji, Albert Lea
7. New Hampshire
Looking for a home on the East Coast? Try out New Hampshire, the seventh selection on our best places to retire list. Boasting scenic landscapes, the small state is a perfect getaway to enjoy the outdoors. While property tax, winters, and cost of living can impact your retirement in New Hampshire, the best part about the state is there is no sales tax or levying on your Social Security benefits, retirement income, or pension.
–Featured Cities: Exeter, Portsmouth, Rye, Peterborough, Gilford
Check Out: Carol Roth: The 3 Life Situations People Aren’t Prepared For
6. Idaho
Midwest retirees might enjoy Idaho, our sixth selection for best places to retire in the US. The state features a low cost of living, stunning scenery, and a low crime rate overall. Seniors can also take advantage of access to quality healthcare, with both Social Security income and prescription drugs being tax-exempt. If you’re worried about sales tax, Idaho’s is only 6%, which is much lower than many other states. The only downsides to consider are the winters, nearly nonexistent public transportation, and fewer luxury stores.
–Featured Cities: Boise, Meridian, Twin Falls, Coeur d’Alene, Sandpoint
Also Read: Rebalancing Your Portfolio: Why It Matters and How to Get Started
5. Wyoming
Fifth on our best places to retire in the US list is Wyoming, which has one of the highest senior volunteering rates in the country, resulting in a low risk of social isolation for retirees. Wyoming stands out by keeping seniors safe against elder abuse and features low crime rates and some of the cleanest air in the country. If you’re worried about finances, Wyoming ranks among states with the lowest tax burdens and does not have an estate or inheritance tax.
–Featured Cities: Cody, Jackson, Casper, Riverton, Lander
Check Out: How to Invest in Real Estate Without Being a Landlord
4. Delaware
Coming in fourth on our list of best places to retire is Delaware, boasting one of the lowest overall tax burdens in the country and no estate or inheritance taxes. With a large population of seniors, you can enjoy the various sights in Delaware without getting too lonely, including the beaches of Rehoboth and the historic streets of Wilmington. Delaware also has the lowest rate of poverty for people aged 65 or older, so you can be comfortable financially.
–Featured Cities: Lewes, Milton, Rehoboth Beach, Wilmington, Dover
Read More: Traveling on a Shoestring: Affordable Adventure Tips
3. Virginia
Want something a little warmer and on the coast? Virginia ranks third on our best places to retire list, with several advantages to calling the southeastern state home. For those who need quality medical care, Virginia has several high-quality geriatrics hospitals and a range of doctors and dentists to choose from. Protection-wise, the state has some of the best elder abuse protections in the US and a low crime rate. The only thing to be wary of is the price, as some of the cities can come with an overall higher cost of living.
–Featured Cities: Virginia Beach, Richmond, Falls Church, Charlottesville, Williamsburg
Check Out: The Longest 0% APR Credit Cards: Maximize Your Interest-Free Period
2. Colorado
Coming in second for the best places to retire in the US is Colorado. Other than the breathtaking sights, Colorado has one of the lowest rates of social isolation for seniors, making it a perfect place for physical and mental health. Very few residents above the age of 65 are in poverty, partly due to taxpayer-friendly conditions and no estate or inheritance taxes. For those desiring good healthcare, Colorado also has some of the best geriatrics hospitals in the country.
–Featured Cities: Pueblo, Fort Collins, Estes Park, Columbine Valley, Grand Junction
Also Read: The Art of Tax Deductions: Maximizing Your Returns
1. Florida
Last but not least on our list of best places to retire in the US is Florida. One of the most talked about states to move to after retiring, there are several benefits of living in the Sunshine State. Florida has relatively low taxes, including no estate, inheritance, or income taxes. With the second-most shoreline miles in the US, there are plenty of places to enjoy the beach and the water, along with Florida’s warm weather. The only things to be aware of in Florida are the chance of hurricanes and the overall cost of living, which can get high in some areas.
–Featured Cities: Naples, Sarasota, Jacksonville, Pensacola, Tampa
Check Out: 5 Best Cashback Apps for Online Shopping That Everyone Should Consider Using
