5 Places You Must Consider Living if You're Planning to Retire

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

There's certainly a lot of factors that go into planning for retirement, but in our eyes one of the biggest is figuring out where you're going to live - after all, the cost of living differs in certain neighborhoods, towns, cities and states, so your decision will greatly impact what your retirement budget needs to account for.

If you're planning to retire in the near future, here are some of the best places to consider:

Bethlehem, Pennsylvania
Bethlehem, Pennsylvania is full of history, and the average property tax was recorded at $4,082. With 31% of the population being over the age of 55, this area is quickly proving popular for individuals looking towards retirement, and with a median home price of just $153,000, it proves rather affordable compared to many other places too. Not to mention, there is no state tax on Social Security benefits or retirement accounts of any kind, which is a huge, huge benefit!

Nashua, New Hampshire
There's a lot that makes Nashua, New Hampshire so appealing, but most importantly for retirees, it has low taxes and affordable housing. Additionally, there is no Social Security or pension tax, which would certainly be appreciated by anyone claiming retirement benefits. Situated near the White Mountains, the Atlantic Coast, and the ever-popular Boston, this is a great destination for retirees who have plans to travel and explore as well.

Hollywood, Florida
Florida has proven to be a major destination for many retirees, and we're not surprised. Specifically focusing on Hollywood, Florida, it's proven to be very affordable for many, and what you save in taxes will amaze you! And though this is the area where it's suggested you live, you're close by to Fort Lauderdale and Miami, so there's tons to do.

Sugar Land, Texas
Finding a place to live that offers a great quality of life is so important for retirees, and Sugar Land offers just that - not to mention, it also offers a pretty low cost of living too! Furthermore, there is no income tax here, and if you're a homeowner aged 65 or older, you get an additional $10,000 above the typical $12,000 homestead exemption.

Spokane, Washington
Heading all the way over to the west coast, a recommendation is to check out Spokane, Washington. Housing is extremely affordable here, with the median price being recorded around $150,000, and there is no state income or inheritance tax (though taxes are applied to any estates that are worth more than $2 million). And another huge benefit? Access to health care.

Something that we at American Investment Planners LLC can help you prepare for is relocation, so if you have plans to pack up and move elsewhere once you retire, we encourage you to sit down and speak with one of our advisors first.

To set up an appointment, please call (516) 932-5130 or email info@americaninvestmentplanners.com.