Posted on 01/24/2024 12:18:25 PM PST by george76
Florida earned its reputation as the retirement capital of the US..
A fixed income in retirement can go a lot further in some states than others ..
...
To make the most of your retirement savings, you should retire in a state where the cost of living and tax rates are friendly to retirees, if you have the resources to. You should also consider factors like the quality of the state's healthcare system and the abundance of activities that you enjoy.'
Colorado, which ranked second for the best state to retire in 2024, offers similarly taxpayer-friendly conditions, with no estate or inheritance levies on seniors.
Virginia and Delaware, while not offering the lowest living costs, also have low tax burdens for retirees - with no estate or inheritance taxes.
...
Rounding off the top five .. is Wyoming. It too does not have estate or inheritance taxes, and scores highly for overall wellbeing - with one of the lowest crime rates in the country.
On the other end of the spectrum .. Kentucky as the worst place to retire in 2024.
The Bluegrass State was among the worst 10 states for quality of life and access to healthcare - and is among the bottom five when it comes to life expectancy.
It also ranked in the bottom 20 states for affordability. Kentucky does impose an inheritance tax, the rate of which is determined by the size of the inheritance and who is receiving it.
It also has an income tax rate of 4.5 percent.
...
New Jersey is the second-least affordable state for retirees .. only falling behind the notoriously expensive state of New York.
(Excerpt) Read more at dailymail.co.uk ...
We’ve lived in KY for 3 years. We did considerable research before we moved. One big factor was that we could live on about 55% of what we’d need in NY or MA, where we’re from. We could have purchased 2 nice homes for what we got in MA when we sold. Property taxes are reasonable, we’re used to sales taxes anywhere, gasoline is cheaper, and they welcomed us with our guns. (We actually called the sheriff’s office in the county we were considering. I wanted to be completely legal and aboveboard. They said: “No problem!
Bring ‘em on in.”) Also, the folks here have welcomed us “recovering Yankees” with open arms.
We came from Michigan and bought a house here in 2018...it went up quite a bit in value and now we are building a new house on a 2 acre private lake/pond along with 5 plus acres. When it’s done it will have set us back like 300k altogther....back in Michigan the same setup would be at least 600k to buy. We could probably sell it for 400k and make a 100k profit.
don’t know. Cal use to do that people went to oregon to buy cars and drive them home to Cal.
so 20 weapons to compensate?
Live in Ketchikan for three years. I loved SE Alaska! Yes, the weather was a little wet and windy, but you couldn’t beat the location! I often think about going back for retirement.
Cost of living (which would include taxes) and access to health care are vital...good weather and good golf courses are a plus.
Warm winters???? I did BCT at Fort Knox during the winter of ‘69/’70.It was cold enough to freeze a witch’s eyebrows!! And I grew up in New England!
It's cold for like two or three weeks...as opposed to 3 or 4 months in Michigan.
Massachusetts State Police are known to do that with cars coming from New Hampshire.
Florida is great but no as cheap as they say. My homeowners insurance went up a thousand to over three. Electric has gone up a lot. Food is always higher and gas isn’t the cheapest for sure. You definitely need to have a nice savings to live here.
Funny, I moved to Kentucky because I saw it as a great place to retire. The land is beautiful (I’m in eastern Kentucky). I have access to healthcare. And I exercise daily. People are friendly. And the Cost of living is great!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.