Best States for Retirement: Where to Settle Down

ByAgkidzone Staff

Updated: Oct 14, 2024

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When it comes to retirement, several factors come into play. From the cost of living to climate and access to quality healthcare, choosing the perfect state for your next chapter is no small task. While each state's pros and cons may be subjective, there’s a consensus on some of the best states to retire in. Let’s take a closer look at these popular retirement destinations to help you make an informed decision.

South Dakota

Affordability is one of the key reasons why South Dakota is a top choice for retirees. With low living expenses and healthcare costs, this state is a smart long-term option for those on a budget. Plus, South Dakota’s fiscal stability makes it an even more attractive choice. While the weather can be challenging at times, residents consistently rank high in terms of well-being. Additionally, the state boasts low taxes, making it a retirement haven for many.

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Utah

If outdoor adventures and an active lifestyle are part of your retirement dream, Utah may be the perfect place to call home. While it may not be the most tax-friendly state for retirees, its stunning landscapes and recreational opportunities make up for it. Utah also has one of the lowest poverty rates for seniors over 65 and ranks second in the nation for senior health, so you can enjoy both fun and wellness in your golden years.

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Idaho

For those who love winter sports and breathtaking mountain views, Idaho should be on your retirement radar. This state is incredibly affordable, allowing your savings to stretch further. Idaho also enjoys low crime rates and high-quality healthcare, ensuring a peaceful and secure retirement. Social Security benefits are tax-exempt, and with no inheritance or estate taxes, it’s a great choice for your heirs too.

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New Hampshire

Tax-conscious retirees often gravitate toward New Hampshire, and for good reason. There’s no state sales tax, and your Social Security benefits won’t be taxed either. This, along with low crime rates and excellent healthcare, makes New Hampshire a solid choice for retirement. Ranking fifth in the country for senior health, New Hampshire is a top contender for retirees seeking financial ease and safety.

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Florida

You can’t talk about retirement without mentioning Florida. The Sunshine State is famous for its warm weather and sandy beaches, which have long attracted retirees from all over the country. In addition to the nearly perfect climate, Florida is one of the most tax-friendly states, with no state income tax or estate taxes. Whether you’re a beach lover or just want to soak up the sun, Florida offers an unbeatable retirement experience.

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Montana

If the idea of wide-open spaces and scenic beauty appeals to you, Montana might be your ideal retirement spot. While the state does tax retirement benefits, many retirees think the incredible outdoor opportunities make it worthwhile. With access to famous parks like Yellowstone and Glacier, Montana ranks seventh in the nation for culture, offering plenty of entertainment for adventurous spirits.

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North Carolina

North Carolina’s comfortable weather and low cost of living make it a standout retirement destination. Even in larger cities, the cost of living remains below the national average. And to top it off, Social Security benefits aren’t taxed, allowing your retirement income to go even further. From coastal beaches to urban entertainment options, North Carolina offers something for everyone.

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Wyoming

Wyoming’s strong financial health, thanks to its thriving oil and mining industries, means fewer taxes for residents, including retirees. Outdoor enthusiasts will love the abundance of recreational activities in Wyoming’s vast landscapes. If you’re looking for a state that offers both fiscal stability and an active lifestyle, Wyoming is hard to beat.

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Alabama

Looking for warm weather and a relaxed lifestyle without the Florida crowds? Alabama could be your answer. With great beaches, plentiful golf courses, and a much lower cost of living, Alabama gives retirees all the perks without breaking the bank. Health care costs are also notably low, and Social Security benefits are exempt from taxes, making it an attractive retirement destination.

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Hawaii

It’s no surprise that Hawaii is on many retirees’ wish lists. With its breathtaking beauty and perfect weather, Hawaii is a paradise for those who can afford the higher cost of living. However, healthcare costs here are surprisingly low, nearly 12% below the national average, thanks to a well-managed healthcare system. Retirees in Hawaii are some of the healthiest in the nation, and the state’s natural landscape encourages an active, outdoor lifestyle.

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