As retirement draws near, you may begin to question whether moving elsewhere could enhance the quality of your life. However, what truly makes retirement a comfortable experience? Is it great weather? The cost of living? The experience of living in a destination you’ve always dreamed of? Quite frankly, every person has different aspirations and goals for their retirement years. Some people even look at it as a fresh start or even a career change. Needless to say, it is definitely a chance to do something completely different. Whatever you’re yearning for, here is a list of incredible places where you can expect to live comfortably, well past retirement.
It’s no surprise “The Sunshine State” is number one on our list. Florida is a dream destination and home to many retirees. With it’s tropical climate, great shopping, fine dining, golf courses and beautiful beaches, retirement can feel like paradise. Cities like Sarasota, Naples, St. Augustine, Ft. Myers, St. Petersburg, and Venice, were ranked by MSN Money and Money Magazine in their top 10 places to retire in the US.
Moving to Florida can come with some great tax benefits. For starters, you will not have to pay taxes on personal income. So retirees, will not need to file an annual intangible personal property state tax return reporting mutual funds, money market funds, stocks, bonds, unsecured notes and shares of business trusts. Other great tax benefits include, a lower sales tax, property tax exemptions for individuals 65 years of age and older (given that other requirements are met), as well as no inheritance and estate taxes. If you’re looking to escape brutal winters and enjoy a relaxed atmosphere that still offers plenty to do, Florida may be the right place for you.
This “Lone Star State” isn’t for everyone, but definitely has a lot to offer. Over the last several decades, Texas has increasingly become a popular choice for retirement. San Antonio and Austin are just a few great cities for those looking to gain more in their “golden years” according to WSJ online. These cities offer plenty of outdoor activities, shopping, dining, festivals and arts and culture year round. You can
also expect warm weather and similar tax benefits as those offered in Florida, such as no taxes on personal income, property tax exemptions and no inheritance and estate taxes. If you’re looking for a big city feel without having to compromise space and fun, Texas may be just the place for you.
“The Beehive State” may not be the first place that comes to mind for retirement, but Utah offers retirees excellent living areas to choose from while offering an incredible scenic ambience that The South cannot provide. Ogden, was chosen by Forbes as one of the best places to retire in 2014. Cities like Salt Lake City, St. George and Cedar City, are also common retirement areas, but don’t expect to live in boredom.
These cities offer world-class skiing, hiking and biking. Not to mention plenty of golf courses, theaters, arts and culture, festivals and more. You can also enjoy a lower cost of living, property tax exemptions for seniors, no inheritance or estate taxes, and a significantly lower sales tax rate at a rate of 4.7%. However, Utah does tax personal income at a 5% flat rate as well as social security benefits. Nonetheless, look no further, if you’re planning for an exciting retirement full of adventure.