Choose The Best Retirement State Carefully
Choosing the best retirement state involves many factors. Be careful if you base your choice on one criteria.
Take taxes for instance. Five states do not have a sales tax. Seven states do not tax your income. Only one state has neither tax…Alaska. Ready to go…not so fast.
Because Alaska transports most of its consumer goods by truck from the lower forty eight. The cost of living is high in Alaska. Looking solely at the tax situation there would not be wise.
For those fortunate enough to have a high retirement income, taxes will be an important factor. In that case you should surely look at Texas or Florida. Lots of rich retirees in those two states.
In 34 states your Social Security income is free from taxes. If Social Security is your sole source of income it would be important for you to know if your best place to retire excludes SS from the income they tax.
Taxes are not the only criteria to choose a state to retire in others include:
1) Medical care…is it adequate?
2) Is the family close…or is it far enough away?
3) Does it have the arts and culture you enjoy?
4) Outlets for your hobbies?
5) Will you feel safe there?
So whatever factors are important to you in picking the best place to retire, there are two things you should do when starting the decision making process:
1) Take your time. You have worked a long time, take the time necessary to fully investigate your retirement locale.
2) Do not buy right away. Renting first is the prudent way to go. Sometimes a place feels great on vacation, totally different when you live there.
You need all the information you can get on each state you are considering for retirement. Here\’s how to get the information. It is free.
To get more information on the best retirement states. Gary Pierce freely gives information on how to retire cheaply at best retirement states. It contains with free information on retirement lifestyles you may not have thought about.
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