Retiring to Another State? Here’s What You Need to Know
Category: Best Retirement Towns and States
November 22, 2022 — So you’ve done your research and found the best town and state for your retirement – great! But before you pull that trigger, here is one last checklist to go over. This last bit of research will help to make sure that even if the climate and the location and the community are just perfect, that something unexpected doesn’t come in to play to spoil your decision.
A lot of people do decide to move far away once they retire. According to the website hireahelper.com, 234,000 American retirees moved last year, up slightly from the pandemic reduced 2020. Being close to family and cheaper/better housing were the top 2 reasons for moving. Florida was the number 1 state for retirees who moved out of state (12% moved there), with the mid Atlantic Coast coast region (Melbourne) area attracting the most. Other states in the top 5 were North Carolina, Michigan, Arizona, and Georgia. Oregon and Maryland were the top 2 states retirees moved away from.
Comments on "Retiring to Another State? Here’s What You Need to Know"
LS says:
This article is a good checklist of things to consider. A few more include: cost of gasoline, electricity, availability of natural gas, automobile insurance, any personal property tax, car registration fees and any reduction of property taxes for senior or disabled residents.
John Brady says:
Thanks LS. Those are good additions, as some of these items can can vary widely from state to state (even within a state). By themselves, perhaps not enough to base a move on, but in aggregate, definitely.
Ron says:
Folks as we age the need for robust medical facilities is a real factor to consider when relocating!
Proximity to thise medical resources should play into your relocation planning also!
Ron
JoannC says:
Ron -
Excellent point! So many places I would like to live but when I check out medical facilities, good (excellent) hospitals are over an hour or more away with only tiny, regional hospitals nearby. There's a website (don't have the link right now) that grades hospitals and indicates their specialties and that drives much of my research and decision making.
Elaine C. says:
It's important to look at all factors because some carry more weight than others. I have no rent or mortgage payments. I live in the middle of fantastic, reasonable health care, but the 10% sales tax is on everything, including food, which impacts my purchasing power. I am not taxed by the state on my Social Security, and I avoid all income taxes through careful financial management. Public transportation is weak, but I live within a mile of many public services and shops, so I can walk or bike easily. Cost of living is 22% below the national average, the state university is 4 miles from me, and the arts, culture, and educational offerings are supported by an extremely wealthy benefactor and affordable for me to participate. But, my personal politics are in a small minority, so I don't feel heard by my local and state governments. I live near extended family and have finally made a few friends, but all my close friends are faraway (thank goodness for zoom). There are 4 seasons here, but climate change is a player in the weather. I made the best decision for me, but it took several years to decide and several years to adjust and make friends.
John says:
Elaine,
thank you for the comments, but you did not mention which state and or city you live in. I would be interested. Sounds like a good deal.