Personal Finance

I Always Dreamed of Retiring to Florida, But These 10 States Now Top My List

Travel destination in United States. South Beach sandy surface with tourists relaxing on hot Florida sun. Tourism infrastructure in southern USA. Miami Beach city with high luxury hotels and condos
Bilanol / Shutterstock.com

When you think about the different locations where you can retire inside the United States, Florida has long topped the list. With a low cost of living, beautiful weather, sandy beaches, and proximity to the Caribbean for cruising and vacations, it’s rightfully become the dream retirement spot. 

Key Points

  • While Florida used to be the dream retirement location, it has quickly become overcrowded and expensive.

  • Today, you can find several states with a lower cost of living than Florida, with better healthcare and quality of life.

  • Minnesota is now the number one retirement destination in the country.

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Unfortunately, because Florida has been so appealing for so long, it now has an influx of new residents, both young and old, who are driving costs up, increasing traffic everywhere, and putting a stain on the idea that Florida has a slower pace of life. As it turns out, Florida may not be the ideal dream location any longer as the state gets too crowded. 

10. Pennsylvania

Pennsylvania | Philadelphia, Pennsylvania, USA Overlooking Benjamin Franklin Parkway
Sean Pavone / iStock via Getty Images

A state rich with history and cultural attractions, there is just something engaging about the entirety of Pennsylvania that is having retirees make the move to the state. You can live near the Philadelphia suburbs and travel back and forth to the Pocono Mountains when you want to get outside. 

Great Quality Of Life

Mount Davis During Autumn in Forbes State Forest, Pennsylvania, USA
Zack Frank / Shutterstock.com

When you move to Pennsylvania, you’ll instantly benefit from a state with a low cost of living and outstanding healthcare. This attractive combination adds to the idea that it has tax-friendly benefits, is centrally located to other big cities, and has an abundant history. 

9. Georgia

Fulton County Georgia | Atlanta Skyine
SeanPavonePhoto / iStock via Getty Images

If Southern hospitality is something you want to experience while retired, Georgia is one of the best places to find it. Whether it’s living near Atlanta, Macon, or somewhere else, the area is just fantastic, with attractive tax benefits for seniors and retirees. 

Low Cost Of Living

Aerial shot of the Atlanta Outer Ring Suburb of Lawrenceville in Georgia
Wirestock / iStock via Getty Images

Right away, Georgia jumps out without any Social Security taxes, so it’s immediately good news for any 60 million plus retirees looking to draw on these benefits. Better yet, you have genuinely mild seasons, which pairs well with the low cost of living and is great for anyone looking to avoid Florida’s crazy hot summers. 

8. Delaware

Delaware | Wilmington Delaware skyline
Wilmington Delaware skyline by Tim Kiser (User:Malepheasant) / BY-SA 2.5 (https://creativecommons.org/licenses/by-sa/2.5/)

As one of the most affordable states in the country, Delaware is quickly rising the ranks as one of the best non-Florida locations where you can retire and be happy. With no state-wide sales and low property taxes, you get plenty of money back to do more along the Delaware waterfront. 

Who Needs Taxes? 

road+in+Delaware | 2022-07-16 17 20 41 View south along U.S. Route 13 Alternate and Delaware State Route 15 (Upper King Road) at Delaware State Route 10 Alternate (Main Street) in Woodside, Kent County, Delaware
2022-07-16 17 20 41 View south along U.S. Route 13 Alternate and Delaware State Route 15 (Upper King Road) at Delaware State Route 10 Alternate (Main Street) in Woodside, Kent County, Delaware by Famartin / BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/)

Considering the state has no sales or Social Security taxes, low property taxes, and even a property tax credit, it’s hard to argue with its cost-of-living benefits. As far as actual living, you have 25 miles of the Atlantic Ocean coastline to enjoy, with dozens of small beach towns and excellent restaurants. 

7. South Dakota

South+Dakota+city+skyline | Rapid City Skyline (2022)
Rapid City Skyline (2022) by WeaponizingArchitecture / BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/)

One of the top states in the nation for both quality of life and healthcare, South Dakota is the opposite of Florida with its colder weather and landlocked location. Still, you have the advantages of having no income tax and a cost of living 6% less than the national average. 

Not Just Mount Rushmore

Mount Rushmore National Memorial is centered on a sculpture carved into the granite face of Mount Rushmore in the Black Hills in Keystone, South Dakota, United States
Pic_Manji / Shutterstock.com

With the knowledge that living in South Dakota costs about 85% of the national average, between this and no income tax,  you have plenty of money in your pocket. This means you’ll have more disposable income to travel to Sioux Falls, Rapid City, Watertown, and Spearfish to enjoy the quality of life in these incredible locations. 

6. New Hampshire

Sean Pavone / iStock via Getty Images

Ranked 8th in quality of life in the United States and 14th in healthcare, there is little question that New Hampshire is a true up-and-comer for retirees. First and foremost, you don’t have to worry about any state income tax, which means more money in your pocket. 

Small Town Charm

Castle in the Clouds aka Lucknow mansion aerial view in fall at the top of Lee Mountain with Lake Winnipesaukee and Ossipee Mountains at the background in town of Moultonborough, New Hampshire NH, USA
Wangkun Jia / Shutterstock.com

Along with excellent healthcare, low crime rates, and all four seasons, something is appealing about the small-town charm all over New Hampshire. There’s beautiful scenery everywhere you turn and everywhere you go, so you should never want for something to do. 

5. Washington, D.C.

Pgiam / E+ via Getty Images

Ironically, the nation’s capital, full of hustle and bustle, has become a popular destination for retirement. Yes, living in this area is more expensive than many other areas in the country, but the flipside is the sheer number of things to do. 

Museums, Sports, And More

BrianPIrwin / iStock Editorial via Getty Images

Something is outstanding about the Washington, D.C., lifestyle, whether it’s spending time at many Smithsonian museums or world-class music and theater shows. Live away from the politics of it all, and you can find excellent public transportation, and 13% of the population is aged 65 and over. 

4. North Carolina

Cherokee+County+North+Carolina | Downtown Andrews, North Carolina, in Cherokee County 01
Downtown Andrews, North Carolina, in Cherokee County 01 by Harrison Keely / BY 4.0 (https://creativecommons.org/licenses/by/4.0/)

Ranking 7th in the nation for affordability and 16th for quality of life, North Carolina has quickly become a hot retirement spot. Ultimately, the areas in and around Charlotte will be the most attractive for most people as you can live near a big city and its amenities but with a lower cost of living. 

Excellent Climate

North Carolina | Aerial of Downtown Charlotte, North Carolina, USA
Kruck20 / iStock via Getty Images

The mild climate is one of the most outstanding reasons to choose North Carolina as your retirement home. You’ll have winter and four seasons, but snow isn’t regular. When it does happen, it only lasts for a day or two, allowing you to enjoy all the outdoor wonders the area offers, especially the highly affordable lifestyle for retirees. 

3. Colorado

Greeley, CO | Aerial shot of Greeley in Colorado in autumn
Wirestock / iStock via Getty Images

With Denver and other big cities providing you with a beautiful view of the Rocky Mountains, Colorado has quickly become another go-to choice for retirees. The healthy lifestyle you can find in the area with all of its outdoor facilities will help you be active and moving while enjoying not working. 

Try Denver, You Won’t Leave

Colorado | Denver Colorado skyscrapers snowy Longs Peak Rocky Mountains summer
milehightraveler / iStock via Getty Images

If you want to start by looking at Colorado, Denver has a thriving economy, an outstanding cultural scene, and more hole-in-the-wall restaurants than you can ever hope to try. Perhaps most importantly, Denver has quickly become a healthcare hub with world-class medical facilities and a low crime rate. 

2. Virginia

richmond, va | Richmond, Virginia, USA Skyline
Sean Pavone / iStock via Getty Images

If you think about Virginia as a retirement spot, you have to hone in on Virginia Beach, which quickly became a go-to choice for those who still want seasons, albeit milder ones. In other words, consider having a cost of living close to the national average and groceries that cost less. 

Miles of Coastline

Virginia Beach, Virginia | Aerial View of The Virginia Beach Oceanfront as the Sun Sets during Labor Day Weekend
Kyle Little / iStock via Getty Images

If you make Virginia Beach your home, you will have 38 miles of coastline to do any number of activities, including family and pet-friendly beaches. The area has dozens of museums and numerous non-water-related activities like horseback riding, hiking, cycling, and jogging trails. 

1. Minnesota

Minneapolis, Minnesota | Downtown Minneapolis, Minnesota at night time
AndreyKrav / iStock via Getty Images

When you look at Minnesota as a potential retirement destination, it might seem unusual with its frigid winters. However, knowing that Minnesota ranks number one in healthcare according to WalletHub’s “best states to retire,” it becomes obvious why Minnesota is ready to surpass Florida. 

Land of Ten Thousand Lakes

Savage, Minnesota | Aerial view of the Twin Cities Outer Suburb of Savage under a blue sky with clouds in Minnesota
Wirestock / iStock via Getty Images

Along with its healthcare costs, Minnesota has a lower cost of living and more outdoor activities than you can ever hope for. The area has a vibrant cultural scene and outdoor parks, and Minneapolis has a great reputation for great food and excellent theater productions. 

 

 

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