Best places to retire in the US in 2024
Retirement is a very important chapter in every grown man's life, so choosing the right place to live in those years turns out to be an extremely important decision to make.
The ideal retirement destination should offer more than just a pleasant climate, it has to be aligned with your lifestyle preferences, financial decisions, access to essential services, and a sense of community.
In this article, we’ll delve into some of the best places to retire in the US, providing insights into what makes each location special and how it can enhance your retirement experience.
From vibrant cities to peaceful retreats, discover where you might want to spend your retirement years enjoying all that life has to offer all around the United States.
Which are the 10 best places to retire in the United States in 2024
So here are the best places to retire in the US for this year, shall we start?
1. Florida
Florida is the number one state in terms of retirement, the sunshine state is one of the most popular places to be at this life stage because of its tax-friendly retirement politics.
There is no estate income tax, so no tax on social security benefits, pensions, and no inheritance tax if you are willing to move to the East Coast.
Also, many people prefer this place because of its growing population, so they can have an active life, with shopping, beach, entertainment (like Disney World and Universal Studios), and of course amazing weather to spend your last years enjoying the sun.
2. Colorado
Colorado takes the second place in this ranking, the western state has similar low-tax politics to Florida.
What makes Colorado very popular is that very few residents above 65 years are in poverty, has one of the best geriatric hospitals in the US, and it has amazing views, with mountains and scapelands that the senior population may appreciate and take advantage of doing activities.
3. Virginia
Virginia completes the podium, this state is one of the 13 original colonies so it has a very distinct architecture and the best elder-abuse protection in the country. This makes seniors feel comfortable and secure, and that is priceless.
Along with the already mentioned Virginia, they have well-known geriatric hospitals in case you need them. When we talk about finance, this state is the 10th most taxpayer-friendly state, meaning that this is not the real reason why it is so popular in the highest age range.
Also, good air quality, low crime rates, and an amazing shoreline make this a great option.
4. South Carolina
South Carolina is a historic state, with beautiful beaches and two very well-known populated cities such as Charleston and Columbia (state capital).
This place is very friendly with retirees and taxes, social security benefits are not taxed, retirement income is partially taxed and anyone who is 65 or older can claim up to 10,000$ in retirement deductions from IRA, pensions, and 401k plans.
5. North Carolina
Now is the time to talk about the northern one, North Carolina has practically the same tax benefits as South Carolina, with no tax for social security, inheritance, or estate taxes.
In this case, the state has a low flat income rate tax of about 4.50% and it's expected to continue decreasing until 2026 making them the bottom third of states all around the United States.
6. Arizona
In 6th position, we have Arizona, a very tax-friendly state for retirees. This can be an attractive option, because they have a flat income tax rate of 2.5% in 2023, and social security income isn't taxed.
Desert landscapes and two big cities like Phoenix and Tucson make this hot weather throughout the year, so if you are a summer guy then this is a good place to be.
PS: You'll need a car to move around.
7. New Hampshire
New Hampshire state is a pretty good option to take in mind, this place is surrounded by nature, with mountains, lakes, and spectacular landscapes to enjoy at an older age.
Geography is essential in this case, with some major cities near this place such as Boston and Portland. If you enjoy winter, then this is the perfect place to be and see black bears, moose, and the famous Mount Washington.
8. Texas
Texas is a retirement-friendly state, located in the southern region and bordering México.
This is a cheap state, with the cost of living 7.3% lower than the national average and friendly tax politics for elder people, making it an attractive place to live in the last years.
Also, they have really big cities to visit, have activities, and enjoy being active like San Antonio, Houston, Dallas, and Austin.
9. Montana
In financial terms, Montana is a moderate state when it comes to taxes. Social security income is partially taxed and wages are at normal rates and state tax of 6.75%.
This place has no specific age-to-retire mandate by law, so it can be a benefit for many people who may want to do it but can't in their actual states. Low living cost and a four-season climate with plenty of recreational activities like skiing, fishing, and hiking makes Montana an option to consider.
10. Pennsylvania
Wrapping up this article, we have Pennsylvania as the 10th best place to retire in the US. This state is very tax-friendly towards retirees, with benefits like retirement income and payments from 401(k)s or IRAs being not taxable.
Pennsylvania has a lot of history, with a place like Philadelphia being essential in US independence. Also, very near to other enormous and important cities such as New York, Washington DC, or Cleveland (depending on the area you decide to live).
Conclusions
As you consider your retirement options, it's clear that many wonderful places across the United States offer a range of benefits tailored to different lifestyles and preferences. Whether you're drawn to the sunny beaches of Florida, the majestic mountains of Colorado, or the rich history of Virginia, the key is to find a place that aligns with your vision for this new chapter of life.
At Bloom Financial, we understand that retirement is a significant life milestone, and we're here to help you navigate the complexities of planning for it. With our experienced financial guidance, you can retire with confidence, knowing that your future is secure. Our team specializes in crafting personalized retirement strategies that not only protect your assets but also enhance your quality of life.
Ready to take the next step towards your dream retirement?
Unveil the Retirement You Deserve Curious about how the perfect retirement destination can elevate your golden years? Schedule a consultation with Bill Bloom, President of Bloom Financial, to craft a bespoke retirement strategy that aligns with your dreams. Your legacy of success begins here.
