The Friendliest States for Retiring Seniors

senior with nurse

Once you stop working, you can only rely on your pension, social security, and investments to keep the money flowing. You want to save as much of your money, and some states can help you with that.


In Miami or any other city in Florida, you get to keep all of your 401K. Florida has no income tax, estate tax, or inheritance tax. It also has one of the lowest tax rates in the nation when it comes to healthcare, transportation, and other state taxes. Miami even has property tax exemptions for seniors purchasing houses worth $250,000 or less. If you decide to retire in Miami, you will be residing on one of the best places for senior healthcare in the nation. Florida has over 300 hospitals and 600 clinics. Most of them are senior-centric or at least capable of handling senior health issues. Florida medical research is devoted to conditions and illnesses that affect the elderly, and there have been several clinical trials that have brought significant results. Seniors are the overwhelming majority in Miami, and establishments and institutions will gladly cater to your needs.


Lancaster was recently featured in the U.S. News & World Report as the best place to retire in the U.S. On its own, Lancaster has 16 retirement communities totaling more than 16,000 residents. The rest of Pennsylvania is not far off; more than 15 percent of its population is over 65 and close to 900,000 veterans consider it their home. Lower tax rates are one of the reasons seniors flock to Pennsylvania as the state does not tax your Social Security, pension, IRA, or 401K. If you want to continue working, you’ll be charged with one of the lowest flat tax rate in the country at 3.07 percent. Pennsylvania is home to some of the most beautiful historical buildings and monuments. You’ll get to see a reenactment of the battle of Gettysburg every year as history and the arts are quite valued in the state. If you like beer, then you won’t be a stone’s throw away from one of the many craft breweries in the country.


seniors having fun

Another tax-friendly state for seniors is Texas. The state will not tax your social security, withdrawals from your 401K, and your pension. The marginal state tax rate is 0.0 percent, but wages are taxed at standard rates if you are still employed. You won’t need to spend a dime on the estate tax, and your kids won’t need to bother with an inheritance tax. The state also has some of the most affordable housing, and some places offer senior-centric accommodations and services. Texas’ sunny climate is also a big draw, as cold can be punishing to old bones.

Retiring allows you to spend the rest of your days enjoying life, but it also cuts your flow of income. You need to make do with what you have and make sure your savings last for decades. These three states make sure you can do that. No taxes means you have more to spend, and this allows you to experience more things in your golden years.

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