After your many years of hard work, you deserve the absolute best out of life — so why not retire to a place that has spectacular scenery, a great quality of life, excellent health care, affordable costs and plenty of things to do?
These states can offer all of that, and then some. We’ve combed through the latest research and rankings to compile this overall list of the best states for your retirement, counting down to No. 1. Whether you’re looking for peace and relaxation or thrills and adventure, one of these states is bound to be just the ticket.
- New Hampshire
New Hampshire takes the top spot as our best retirement state — and it really has the whole package. U.S. News reports that If you retire here, you’ll enjoy low taxes, great health care, gorgeous natural surroundings, peace and quiet, and plenty of ways to get the most out of life.
New Hampshire might just be the place if you’re looking for a peaceful New England lifestyle at a fraction of Boston’s prices. In pretty Portsmouth, on the Atlantic coast, a one-bedroom apartment rents for $1,100 to $1,300.
With no sales tax, New Hampshire has the best deal on clothing, alcohol and tobacco in the Northeast. Retirement income isn’t taxed, but there is a 5% tax on dividends and interest that might snag retirees with investment income.
2. South Dakota
What South Dakota lacks in year-round tanning weather, it makes up for with some of the best hunting, fishing, hiking and camping around. The small-town life is relaxed and perfect for retirees looking to settle somewhere quiet but active.
You’ll definitely find a home in your price range in affordable South Dakota. In Sioux Falls, which has ubiquitous natural beauty and a vibrant downtown, a one-bedroom in the center of town goes for $750 a month, on average.
In smaller Rapid City (population: 74,000) and Aberdeen (population: 27,800), housing costs are even cheaper. You can find one-bedroom apartments renting for around $650 a month, says Numbeo.
Seniors will be happy to note that South Dakota doesn’t tax Social Security income or pensions, there’s no inheritance tax, and the state sales tax is 4%.
Colorado really has it all. Mountains? Check. Breweries? Check. Big-city amenities and small-town charm? Check and check.
Add too this a fantastic quality of life, good health care and some of the highest senior citizen tax deductions in the country, and it’s no wonder so many retirees are settling here.
Although cities like Denver and Boulder can be expensive, there are many smaller towns that are far more affordable and provide the same access to the state’s natural wonders. In Greeley, a one-bedroom rents for around $1,000 a month.
WalletHub ranks Colorado as second in the country for health care quality and clinical care. The state has three nationally ranked hospitals, plus nine other high-performing medical centers.
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