Many websites name various cities around the country as the best place to retire. Few venture into what state is the best to retire and fewer websites factor financial benefits into selecting a state. Bankrate, Wallethub, Kiplinger, Go Banking Rates, and Caring.com decided to venture into financial benefits and state retirement with mixed results. Therefore, the ones listed are in the top 10 on three websites. In fact, the top six on Wallethub's list is on this list. As a word of caution, break away from stereotypes and embrace open-mindedness.
Colorado
Retirees craving snow year-round will appreciate Colorado's snow-capped mountains and nearby ski resorts. Colorado's strength lies in its healthcare, cost of living, and well-being, according
…show more content…
Go Banking Rates appreciates Florida for affordable healthcare costs, low home prices, affordable cost of living, and no state taxes. Kiplinger stands with Go Banking Rates on no state taxes and low home prices but highlights the Homestead Exemption, a home saving opportunity for Florida seniors. On a separate note, Florida title loans exist for seniors to pay for cars, motorcycles, and boats.
Idaho
A state mainly overlooked as a retirement destination should now be on every retiree's wish list. Bankrate states that Idaho's cost of living and overall well-being are great reasons to move there. The low crime rates should put seniors at ease about safety concerns. Meanwhile, Caring.com embraces the low crime rate and well-being too but says that healthcare is affordable for seniors due to non-taxable social security payment and prescription drugs. Include the mountains and the sunny-not-humid weather and retirement are complete.
…show more content…
Go Banking Rates touts New Hampshire's social security benefits, no state income tax, and no state sales tax. Meanwhile, Kiplinger loves the no state income tax and no state sales tax too while informing seniors about a $1,200 exemption for property taxes and a city exemption for dividend interest tax to save more money.
South Dakota
The third state with no state income tax, South Dakota's weather leans to both extremes: the hottest summers and the coldest winters. Additionally, Bankrate mentions overall well-being and cost of living as advantages. Likewise, Kiplinger shares the same sentiment on no state income tax, yet acknowledges the low sales taxes. With good spending habits, the dollars earned from social security and savings will last a long time.
Wyoming
The social security payouts pay dividends in Wyoming, according to Go Banking Rates. Along with the larger payouts, expect a low cost of living and good savings account interest rates. Kiplinger, meanwhile, loves the no state income tax, the fourth one on the list, and low property taxes. In addition, Wyoming has low sales taxes thanks to abundant oil and mineral resources. Seniors can expect a tax refund from property taxes, sales taxes, and utilities combined if you're
The Lone Star state also known as Texas is ranked second in area and population. With a growing population and a decreasing unemployment rate the state has a borderline healthy economy. With an average infrastructure grade and an 8.8 million surplus the state is looking good all around.
There are many beautiful places around the world to live, choosing one is a very difficult decision. There is also a lot of different countries but the United States is where I will stay, even in America, though, there is such a variety of places to live. Savannah, Georgia has caught my eye in many ways but I don’t know if I could ever leave small town Iowa, like Mason City. While considering these two places, I know that there are a few things that I have to keep in mind such as the job outlook, cost of living, things to do, and one of the most important, weather.
Everybody at least wants to go somewhere new in their lifetime. Perhaps it’s to visit family or maybe it’s to get away from the same old, same old, I’ll admit Indiana is pretty boring. Anyways, I’ve always wanted to go to Oregon, mainly because of the weather. Like every state, Oregon has it’s advantages and disadvantages. I’ve always adored Oregon for some reason and have always fantasized of living there, even if I don’t live there, a vacation to Oregon would still be suffice.
With no more Alaska income tax, the state is more appealing to potential residents and businesses, which is important when you’re as isolated as Alaska. Some may say the cold weather is a deterrence. However, the state’s unemployment rate was the lowest in the country from November of 2008 until April of 2014. While everyone from the U.S. mainland struggled to find employment, Alaska’s residents weren’t as unlucky.
Wow! The state Montana is a very cool and interesting state. Montana has a very interesting timeline about its past. Montana has a very beautiful landscape. Montana also has very unpredictable weather. It also has a lot of natural resources and a good economy. The state also has a lot of thing to see and to do. Montana has a lot of interesting information behind it.
After working for decades in one or more jobs, most people set their sights on their long awaited retirement; the great payoff at the end of a long career. When many look at retirement locations they see sunshine, a neighborhood type of community and the lack of cold winters, snow shoveling and having to deice their cars. In other words, many from the northern hemisphere look south. A booming community for ex-patriots and others alike has proven to be the magnificent area of Yucatan.
The Best Place to Live In America Actor Burt Reynolds said once, “Florida is a very healing place”. It’s the healing power of Florida that makes it the best place to live in America. Three reasons that make it such a healing place to live are the many beautiful beaches it has to visit, it’s like being on vacation all year round because of the gorgeous warm weather, and lastly, it has amazing tourist attractions. The first reason Florida is the most desireable place to live in the U.S. is because there are so many gorgeous beaches to visit. Two of the most popular beaches are Destin Beach and St. Petersburg.
Raising taxes is always a contentious issue, particularity for the people of Wyoming. As we have previously studied, taxes on minerals (particularly petroleum and coal) are big sources of revenue for the state of Wyoming. When prices are low (like right now) the state is hurting. The reverse is also true, when prices are high the state tends to do well and wants to maximize revenues while they can.
The warmer climate is one thing that attracts retirees but it is not the only factor. Economic conditions are more favorable in most of the Sunbelt. Many of the southern states have a lower tax burden than the ones to the north. Land is also cheaper in all but the resort areas of the Sunbelt.
Why I think Maine is the best state in the United States is for multiple reasons. First of all, I love scenery. Maine is about 90% all forest, and during the fall it can be quite the view! This is also one of the reasons why fall is one of my favorite seasons, if I lived anywhere else, I might not be able to have the chance to see these unbelievably beautiful scenes of oranges, yellows, reds, and browns around me. The second reason I think Maine is the best state is because of how quiet it can be, besides the annual gunshot or that random kid that decides it’s best to scream at the top of their lungs, it’s pretty quiet and peaceful.
In states without state income tax, higher sales, property and other assorted taxes can exceed the annual cost of a state income tax. Texas is one of seven states that do not levy an individual income tax. The Tax Foundation, a conservative-leaning research group, ranks Texas ninth-best on its State Business Tax Climate Index, largely because of the state’s lack of an income tax. On three of the foundation’s other major rankings — property taxes, sales taxes and corporate taxes — Texas ranks in the bottom 20 states. Texas does not have a statewide property tax, but local property taxes remain a crucial complaint among businesses and homeowners. (Terrence, 2002) The main benefit is that states with no income tax become a beacon for growth. They 're better at creating jobs and keeping a core of young, educated workers from moving to other states. The issue is undoubtedly controversial. Public opinion usually swings with the size of one 's paycheck and the role people think governments should play in shaping society. Texas has an above-average sales taxes, and Texas also has higher-than-average effective property tax rates. Cutting the income tax will boost take-home pay for everyone. It 'll make the state more attractive than its neighbors, creating jobs, drawing new businesses, and sparking an influx of talented workers.
The Arizona Real estate market is thriving like never before due to a growing economy. It is one of the most affordable, low cost, and reasonable places when it comes to the property prices and owning land. Retirement in Arizona is the perfect option to enjoy a peaceful life in a stable
Firstly, Florida has a natural life that not a lot of countries have. When walking on the streets in Florida you can see trees in every angle you look. These trees bring the beauty of this country. When living in Florida you won’t feel that you’re trapped in a country
The first individual that I spoke with was one of my best friends, Nathan. He was born and raised in Montana, though he moved from town to town as a child. He told me he thinks people call this state the "last best place" because there's no sales tax, everything is cheaper here, and it's much safer. There is a sense of community in Montana more than in any other state because the cities are much smaller.
Less business regulations have been the key to success in the state and namely in the metropolitan areas. No state income tax is one tool that is good to use in order to convince others to move. For businesses there is only a gross receipts tax; people and companies are moving to the major cities in the state. Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not have state income taxes (Income Tax Rates by State, 2014). The lack of a state income tax is straining the resources of counties and the cities throughout the state.