Best Retirement States
Successful Aging: Retirement - The Next Great Adventure
As you plan for—and live—your retirement, taking care of your emotional and physical needs becomes as important as managing your finances. Noted author and humorist Natasha Josefowitz addresses the personal aspects of retirement: how the changes affect you, your spouse or partner, and your family. You'll find lots of good advice on making the most of your retirement years. Series: Sam and Rose Stein Institute for Research on Aging (SIRA) [8/2005] [Health and Medicine] [Show ID: 9127]
The
best 'low tax' states to live in the USA
Florida: Well Florida is the retirement capital of the USA. A great place to buy because of the pleasant climate and those baby boomers will keep buying, so good investment. No personal income taxes here, so a great place to retire. ...
How to Be Happy, Stress-free, and Retired at 55If this sounds like a good life, I can assure you it is. “If I were still in the States I’d still be working,” he says. Instead, he’s happy, stress-free, and retired at 55...in the world’s best retirement destination. Suzan Haskins ...
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BEST STATES TO RETIRE TO? Which States Gives You The Best Deal? When you have been working hard for almost all of your life you look forward to retiring. This is the period of your life where you will be able to indulge yourself with new activities and events that you were unable to do while you were working. There are some other considerations that you may want to consider in your retirement plans. One of the main items that you will need to think about is where to live after you have finished working for your living. So how will you be able to pick the best retirement states for you? "Best" is of course subjective - best in terms of taxes? Climate? Location? Economy? Lifestyle? In reality, your ideal mix of all these factors. Well you might want to find out the various benefits and social issues that are relevant for retirement living. Each of the 50 states has different ways of meeting the various needs of their senior community. However you will need to see what they have in way of housing for senior citizens, social activities, and medical health care. You will also need to see if you can afford to live in those states. If there's no state income tax, it doesn't necessarily mean a low total tax bill or if there's state income tax, a higher total tax bill. Think you've struck a pot of gold, if there's no state income tax? Not really..... You could be slapped with other chunky taxes like sales taxes, excise taxes, license taxes, intangible taxes, property taxes, estate taxes and inheritance taxes? The best way for you to choose the best retirement states in the country would be to list down all of your retirement needs. The internet will be able to help you with the initial research that you will need to do. Here you can find out the various weather conditions of each state and see if you like living in that type of weather all year round. Next you will need to think about the social life. There are many different activities that people enjoy doing but many of these will change as you grow older. So you will need to see if the potential retirement state will have a wide choice of activities for you to explore and indulge in. Now all of these items are great to find out about but the big question is how can you choose the best retirement states based on your living expenses. Currently there are several different states that are thought to be great for retirement purposes. At the moment, these are Delaware, Alaska, Kentucky, South Carolina and Albany, NY, plus that favorite Florida, which gets its own page on this site, New York. These states are listed in the order of the best retirement states in the country. Now closer inspection will inform you why these are considered to be the best places to retire. Delaware doesn't tax your Social Security benefits and other retirement income of up to $12,500 per person is also tax-free. There's no sales tax but you need to pay property tax if you own a house there. Alaska has no state income tax or sales tax and the capital city of Juneau waives its 5% local sales tax for residents 65 and older. But house prices are high, so are property taxes. Unlikely you want to move there - the climate, cost of living, leisure activities, medical facilities, and proximity to family and friends are all factors to consider in this case. In South Carolina & Kentucky, both states impose income taxes but they give generous retirement-income exemptions. Frankfort in Kentucky excludes food from its 6% state sales tax and levies a low property tax. Columbia in South Carolina has a lower statewide sales tax of 5% but it charges higher tax on property and levies tax on food.
