The 15 Best States to Begin Your Retirement Journey

After endlessly hustling and earning money for most of your life, stepping back and finally getting the well-deserved golden days ahead is the best reward. To maximize the quality of your retired life, you should be looking to move to a state that caters to your financial capabilities.

Retirement is your chance to relax and enjoy life after years of hard work. Where you choose to settle down can greatly impact your retirement experience. Factors like taxes, healthcare, and the cost of living play a big role in deciding where to live in your golden years.

Here’s a list of top retirement states focusing on quality of life, healthcare access, and affordability.

1. Florida

Florida has stunning beaches you will want to enjoy for the rest of your life, but more than that, you don’t have to pay state income tax ever again. Florida’s cost of living is 3.1% more expensive than the national average, which really needs to be put into perspective. New York, for example, is more than 21% more expensive than the national average. In Florida, your pension will last longer as the prices for groceries and medications are only 2.8% and 2.3% more expensive than the national average, respectively.

Besides the slightly higher pricing, its flourishing senior community offers a welcoming atmosphere for retirees who want to belong. The beautiful coastal sands and sunsets also add to the state’s appeal, particularly in Siesta Key, Pelican Bay, and Highland Beach.

2. Wyoming

Wyoming is a paradise for retirees, with a cost of living 7*% lower than the national average. Tax rates are considerably low, and there are no state income and inheritance taxes. If you want a low-stress job after retirement, this can be the state for you.

Wyoming has beautiful sights you will never get tired of seeing. You’ll be near incredible national parks, including Red Canyon, Grand Teton, and Yellowstone. Cody and Powell are considered great cities for retirees, with plenty of conveniences and relatively affordable home care if needed.

3. Arizona

Arizona is a paradise for retirees, with its warm weather and vibrant senior community. Known for its sunny days and welcoming atmosphere, this state can be an ideal place to enjoy your retirement.

The sunny state’s cost of living is 6% higher than the national average. With its utilities at 3% lower than the country’s average and its housing at 18% more expensive, it’s important to weigh your options. Take into account these relevant factors like money, environment, and community before you make a decision.

4. Colorado

Colorado offers senior property tax exemption to senior citizens and their spouses. This means they can be freed from the responsibility of paying 50% of the primary residence’s actual value (for the first $200,000).

Colorado also has low sales state taxes and is free from estate and inheritance taxes. Prescription medicines and groceries are also exempt from sales tax, a major advantage for retirees.

Colorado has Pikes Peak, Maroon Bells, and Mount Blue Sky if you’re not fond of the sun or beaches and prefer the cool breeze in the mountains. All three offer magnificent experiences and the fresh air you need for a comfortable life.

5. Indiana

According to the Missouri Economic Research and Information Center (MERIC), Indiana has the 9th lowest overall cost of living in the country. It is 8% less expensive than the national average and has 21% lower housing costs than the country’s average. It also features a flat-rate state income tax that will make sure you know how much you’ll pay in taxes.

Indiana is a paradise for retirees partly because of its location. Its position in central Midwestern America makes the state accessible to relatives all over the country.

6. Virginia

Virginia is a taxpayer-friendly state with a cost of living similar to the national average. However, housing, utilities, and healthcare expenses are slightly more expensive in Virginia, while food supplies are 1% lower and transportation is 8% more affordable.

Virginia offers untaxed Social Security Retirement benefits and low sales and property tax rates. The state also has excellent programs for seniors, including elder abuse protection and high-end hospitals.

Belmont Estates and Massanetta Springs are good starting places to look for your retirement home.

7. West Virginia

West Virginia became a standalone state in 1863 and can be considered one of the ideal states for retirees to enjoy their relaxing days ahead. It has one of the lowest costs of living in the country, which is 9% lower than the national average. Housing and utilities are also more affordable, with the former set at about 20% lower than the national average while the latter is 6% cheaper.

Besides being able to afford your necessities, you also have a front seat to the natural wonder of the Appalachian Mountains and the rich environment surrounding them. Since 17.3% of the population in West Virginia are seniors, you can be sure to meet a community you belong to.

Retirees love Wheeling and Morgantown, so you can start there until you find the perfect place for your retirement home.

8. Delaware

Delaware is tax-friendly and features several tax exemptions for seniors, including social security benefits, from pensions to retirement account withdrawals. Retirees aged 60 years and older get an annual tax deduction of $12,500 in their income per person. You can benefit from untaxed in-state purchases like medicines and basic commodities.

Another advantage to choosing Delaware when you retire is its cost of living. While the overall cost of living in the state is 2% higher than the country’s average, its housing and utilities are 2% cheaper.

Explore Rehoboth Beach and Bethany Beach for a relaxing retirement.

9. South Dakota

South Dakota has a positive reputation for taxes, especially for retirees. The state does not tax your social security benefits or impose state income tax. That means you get your 401(k)s and IRAs in full amount, including your pensions, from private or public institutions. There is also no sales tax, making medical products more affordable than states with sales tax.

Besides taxes, the state showcases a 7% lower cost of living than the national average. Expenses while living in South Dakota won’t empty your bank account. Considering that 18.2% of the population is 65 and older, retirees definitely have someone to welcome them to this state.

10. Georgia

Georgia is an incredibly affordable state with a cost of living that’s 10% cheaper than the national average. Other expenses are much lower, with housing priced around 21% cheaper and utilities hovering near 13% lower than the national average.

The state has a friendly tax approach since social security benefits are left alone. Retirees can fully enjoy their retirement withdrawals, including pensions, IRAs, and 401(k)s. Deductions per year per person can reach up to $65,000 for people 65 years and up. The deduction is only half ($35,000) for those aged 62 to 64.

11. Idaho

Idaho offers retirees an affordable paradise they can enjoy for years to come. Its cost of living is 6% more affordable than the national average. The average cost of housing is nearly 17% lower, and utilities are 15% lower, which makes owning a home more affordable than in other states.

Besides the financial benefits, retirees can explore the state’s natural wonders, from stunning lakes to adventurous mountains and deserts.

If you want a good place to start, Burley and Pocatello are two of the most affordable places to live and can easily be called your new home.

12. New Hampshire

Retiring in New Hampshire means enjoying the state’s high standard of living. However, it also means getting used to the 5.8% more expensive cost of living than the country’s average.

In New Hampshire, the population of 65 and above reaches more than 17%. The senior community will definitely welcome you with open arms in this Northeastern state. They may even be the ones to guide you when exploring Sandy Creek Nature Center and the State Botanical Garden of New Hampshire.

13. Minnesota

With a good running record in healthcare, Minnesota is a good choice for your retirement home. Minnesota even earns praise for having some of the best healthcare in the nation, factoring in its high rankings for healthcare facilities per capita, healthcare outcomes, and quality of hospital care delivered. With a good healthcare system to back retirees up, you won’t have to worry about your well-being while in your retirement.

Besides its great healthcare, Minnesota has a more affordable cost of living, around 4% cheaper than the national average. Housing is 15% cheaper than the country average, and the state is 4% more affordable in terms of utilities.

14. Montana

Montana ranks high when considering retirees living in this state. Its cost of living is equal to the national average. The state offers a high quality of living, making it a paradise for retirees.

If you choose Montana, you get to enjoy the breathtaking view of the Glacier National Park. Make sure you’re prepared for the harsh winters, especially if you decide to live in a small town. To start right, why not try popular Montana places like Libby or Hamilton?

15. Pennsylvania

Pennsylvania is one of the best states to retire in, with a cost of living that’s 4% lower than the national average. Even though housing is 17% cheaper than in other states, choosing a city with affordable housing is important. If this is a major consideration, Johnstown, Honesdale, and Erie are the top choices.

Choose Pennsylvania as your retirement home if you enjoy being in nature. The state houses the Appalachian Trail, along with more than 100 state parks you can explore. If you prefer the city, Philadelphia will do the trick, but for a more laid-back life, choose Penn Wunne or Spring House.

This article originally appeared on Hello Sensible.