Choosing The Best Retirement State
The best retirement state is not one size fits all. There are many factors that go in to the decision of where to retire.
Take taxes for instance. Five states do not have a sales tax. Seven states do not tax your income. Only one state has neither tax...Alaska. Ready to go...not so fast.
Because Alaska transports most of its consumer goods by truck from the lower forty eight. The cost of living is high in Alaska. Looking solely at the tax situation there would not be wise.
If you do have a high retirement income you should look at Texas or Florida...all else being equal. Lots of wealthy retirees in those two states.
If Social Security is your sole source of income you may be interested in finding out which states tax SS income. There are thirty four states that do not tax Social Security benefits.
For those who will not make a choice solely on taxes there are other criteria to examine:
1) Is the health care sufficient for your particular needs?
2) Proximity to family...could be too far, could be too close
3) Cultural activities
4) Are there venues for your outdoor activities?
5) Will you feel safe there?
So whatever factors are important to you in picking the best place to retire, there are two things you should do when starting the decision making process:
1) First do not rush making this decision. You have probably worked all your life...take some time in finding your best place to retire.
2) Try before you buy...How does a area feel when you are not on vacation? Some places may be great to visit on vacation, but feel totally different when you live there. Rent a place for a few months before you look to buy.
You should get unbiased information, taxes and otherwise, before you decide where to retire. Here's where to get the information free...
For further information on the best retirement states. Gary Pierce freely shares information on how to retire cheaply at best retirement states. It is loaded with free information on retirement lifestyles you may not have considered.
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