If you’re thinking about where to retire, the decision can be a little more complicated than choosing the warmest climate. You should consider taxes, cost of living, healthcare options and the lifestyle you want to live.
Below we’ve listed some places to retire and a checklist to help you with your decision.
Every person’s ideal retirement is different—some choose to live the quiet life, while others prefer to be active and connected to people with similar interests.
No matter the lifestyle you desire, consider these factors when deciding where to retire:
Depending on your priorities and financial situation, you could also consider a retirement location close to family. Having the support of family members can come in handy as you age and have a harder time doing tasks around the house.
Whether you have your mind set on the beach, the mountains or something a little more modest, there are a lot of places to retire.
Here are some of the best places to retire in the United States selected by the experts:
Massachusetts doesn’t tax government pension income or Social Security benefits, and Springfield is in close proximity to major metro areas, amusement parks and museums.
Colorado is very tax friendly to retirees, allowing for big tax breaks on Social Security and retirement income. Located at the bottom of Pike’s Peak and the Rocky Mountains, this spot is perfect for those seeking adventure.
Known as the “Wall Street of the Southwest,” Galveston is a coastal resort city that proudly boasts a booming port and quaint, historic neighborhoods. Moving to Texas also means you won’t have to pay income or estate tax.
If you’re interested in retiring near the water but have a limited budget, consider these coastal destinations:
This affordable, historic town on the southeastern coast of North Carolina is great for people who love water sports, comfortable temperatures and antique gift shops.
Biloxi features 26 miles of beachfront, a small town feel, and a median home price of just $157,600. It’s also home to several casino-style resorts that feature live entertainment throughout the week.
Located just a few miles from the Pacific Ocean, Astoria is one of the most affordable retirement spots on the west coast with a median home price of $200,000.
This city is home to the Astoria Column, a towering hilltop monument depicting historic murals and panoramic views of the city, and the Columbia River Maritime Museum, which showcases fishing and military history.
If you want an affordable place to retire and a beautiful mountain view, check out these options:
Located near the Adirondack and Green Mountain ranges, this small university town features a wide ranging of housing options for those in retirement. It also features a bustling downtown filled with shops and restaurants along Church Street Marketplace.
This small mountain town in western Idaho is surrounded by mountains and the Spokane River. It has 55 lakes and 30 golf courses nearby with a median home price less than $200,000.
Located near the Ozark Mountains, Fayetteville features a complimentary bus service that takes you to and from different parts of the city. Residents aged 60 and older can also take tuition-free classes at the University of Arkansas.
Synchrony Bank has the financial tools to help you land the perfect retirement home. We offer Roth and Traditional IRAs. We also offer the security of your account being FDIC-insured.1 In addition to these savings options, Synchrony Bank offers a competitive, high yield savings account with no minimum balance.
Call Synchrony Bank today at 844-345-5789 to start saving for retirement so you can choose when and where to retire on your terms.
Best Places: www.bestplaces.net
The Balance: www.thebalance.com/state-income-taxes-in-retirement-3193297
1 FDIC insures our customers up to $250,000, per depositor for each ownership category.
*ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of .
APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For Money Market and High Yield Savings Accounts, the rate may change after the account is opened. For CDs, a minimum of $2,000 is required to open a CD and must be deposited in a single transaction. A penalty may be imposed for early withdrawals. After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time. The APY shown for CDs and IRA CDs is for a 60-month CD with a balance of at least $25,000. Click here for all CD rates and terms offered.