As the saying goes, "home is where the heart is", but in choosing a place to retire there are many considerations. Ideally, it would be good if there is family near by; but that is not always possible. Next, it definitely is good to move from high cost of living, high tax states, since living on a fixed income is easier in lower cost of living, little or no income tax states. Currently, there are eight states that impose no personal state income taxes. They are Alaska, Texas, Nevada, Florida, Wyoming, South Dakota, Washington and Tennessee. Paying no state income taxes will be critical when taking out 401K or IRA monies to actually net more money from savings.
Since most people facing retirement prefer to move from cold to warm states, factoring out the states that are freezing and or rainy all winter, Texas, Nevada, Tennessee and Florida would seem to be the best options. Arizona is also popular; but they do have a state income tax; though they do not tax Social Security income. The four states listed have a reasonable cost of living and great quality of life. These are the reasons these states continue to attract people in retirement.
All of these states have great 55 or older communities some gated and some not; but all that offer all sorts of amenities usually tied to a Home Owner's Association. Since many retiring people move to these states from other areas, often without family nearby, it is easy to make new friends by joining various organizations. Before deciding on any move, do your homework. Research the best towns or cities for you based on your interests.
Great hospitals are a must for people in retirement so hospitals and medical care should be at the top of the list. After that some people like professional sports. It is possible to move to a big city; but since many now have master planned communities, things like heavy traffic can be avoided. My rule is that I want everything within 5 miles of where I live. So, shopping, doctors, hospitals, recreation, restaurants etc. nearby.
There are many great places to retire. Decide what is important to you and choose a state and city. At Paragon Home Resources, we work with many Seniors each year moving to retire. We can assist with selling and buying a home, as well as, the disposition of household goods shipping cars etc. along with many other services to make moving as easy as possible.
