Retirement is a glorious thing. You’re finally able to revel in your hard work and do what you’ve been planning to do for all these years. Whether you’re counting down the days until you’re done, or planning ahead, it’s important to consider where you will spend your golden years.
There are plenty of factors to consider when picking your location and many options when deciding the best state to retire from inside of the United States. In this article, we’ll review the different frameworks for information on retirements such as healthcare, cost of living, and weather. It is important to look to data when planning your retirement so you understand exactly what you are getting yourself into, how to manage your investments, and what variables may stand in the way of you and your retirement. Through these frameworks on how to measure different aspects that affect retirement, we can see which states would be best to retire in 2023.
There are plenty of things to consider when planning for the best state to retire from, and some of these factors may be more important than others to some individuals. Also, while one aspect may be an essential thing to a specific individual, it might not even be the last thought on someone else’s mind.
Keep in mind, that no state is going to be the outright best state to retire in for everyone, some may have features that you prefer over others. For example, Michigan may have the most forgiving taxing system in America, but it’s very cold most of the year and has a decent amount of crime/identity theft. Overall, you’ll want to take personal considerations into what it is you want out of your retirement. Do you want a close-knit community or are you okay with being alone? What is your ideal weather and climate? Are you in good or poor health? These are a few questions you may want to consider when looking for the best state to retire.
Maine is amongst the best states to retire for its low cost of living compared to the excellent quality of life. However, if you are more into the urban style of living this may not be an option for you. Maine has a number of great outdoor recreational opportunities for seniors but you may find the culture and diversity of the state to be lacking unless you stay in Portland.
If you do not mind the cold and are comfortable with your retirement income being taxed, then Wisconsin is can be considered the best state to retire. Its natural beauty makes it a serene and relaxing place to call home. You will never be bored with a number of outdoor recreational activities and the overall low cost of living and healthcare allows you to enjoy life without fear of breaking the bank.
Iowa is among the best states to retire in for its affordability. While there may not be as much to do as in other states, the price cannot be beaten. Living in the city of Des Moines can afford you amenities for a convenient living while still giving you that hometown feeling. Iowa is ideal for anyone looking for a quiet place to retire where the locals are friendly and everyone knows everyone.
Idaho has the potential to be a great retirement spot where you can save money and build your wealth. The majestic mountains and seasons provide the best backdrop for a cozy and modest retirement. It is best to make sure you either have family or friends in Idaho to stave off loneliness since the natives of Idaho tend to keep to themselves. Loneliness can be detrimental to mental health so it is important to keep and make strong connections.
While Arkansas may boast natural beauty and even climate, it is absolutely not a place for retirees. You may enjoy a visit to Arkansas but living in it may be costly in more ways than one. We highly recommend not retiring in this state as it is one of the worst states to retire.
You truly would never be bored in New Mexico whether it is from a lovely outing or from keeping on your toes from the rampant crime rate. If you already have an established social circle in New Mexico, it may be an okay place to retire. Seniors who do not, though, can find a similar quality of life in Florida while being near peers to keep them company. New Mexico has earned its spot as one of the worst states to retire.
As gorgeous as Alaska is, it is hardly a retirement destination. The constant inclement weather would be enough to keep most people away but the high crime rate and cost of living make it incredibly hard to live in normally. Alaska easily makes the worst states for retirement for these reasons.
We highly DO NOT recommend Mississippi as a state to retire. If you are looking for a low cost of living, there are plenty of other options available. Mississippi is typically on the top of “worst states to retire” lists and for good reason. Between the high senior mortality rate, food insecurity, and senior isolation, we cannot recommend this state for retirement.
Overall, there is no one best state to retire for everyone – it will depend heavily on what you choose to look for in a place of living. We hope that in reading this article, you may feel more informed when debating your options for retirement.
Here at Final Expense Benefits, we specialize in making sure the senior community is prepared for retirement and all end-of-life finances life funeral costs, and debt. We help you to prepare for anything that life has in store.
Call (866) 311-4338 for a hassle-free consultation on final expense insurance.
It's certainly up there, at least top 5.
There's a lot of options for military veterans, but our vote goes to Iowa, Texas, or Maryland.
This goes into the cost of living debate as well as how prevalent taxes are, but some of our picks are Mississippi, Alaska, or anywhere in the midwest.