How to Choose A Place to Retire

Choosing A Place To Retire

First Published Published Date : May 4, 2011 ADawnJournal.com

When you are approaching retirement age, there is a chance that you will want to move. This is often because your family has probably moved away, your kids are out and you may want to have some change of scenery. If you live where it snows, you may also want to spend the rest of your days in a nice warm location like Florida.

Of course, when you are choosing a new place, or state, to move to in your retirement, it is important you choose right. Choosing wrong could make your retirement anything but enjoyable and you could find your money slipping away because you made the wrong choice for the place you are going to spend your golden years.

To help you make the right decision, here is are some things to keep in mind for your retirement.

1.    Climate: You want to be in a place where the temperature and weather is normal so you don’t have to worry about severe storms, shovelling snow and more.

2.    Economics: You want to live in a place where the cost of living is normal, the tax burden is minor and there is not a high amount of unemployment, just in case you wanted a part-time job to supplement your income.

3.    Life Expectancy: You want to live in a state that has a high amount of people living well into their old age.

4.    Crime: You want to feel secure, so moving to a place with a high crime rate is probably not something you want to do. You want to find a place where there is little crime so you can feel safe in your golden years.

So, what are the best and worst places to retire? Well, according to TopRetirements.com, these are the choices you have in the USA:

The worst states are (2010 edition):

50. Illinois

49. California

48. New York

47. Rhode Island

46. New Jersey

45. Ohio

44. Wisconsin

43. Massachusetts

42. Connecticut

41. Nevada

The reason Illinois is the worst state is because it does not have a high amount of economic action going on and it has had to borrow money just to fund the pension obligations of the state. That is not a good sign. In addition, there is no security income or tax pension, which is something many retirees rely upon heavily.

The best states are(2010 edition):

1. Florida

2. North Carolina

3. Tennessee

4. South Carolina

5. California

6. Arizona

7. Texas

8. Colorado

9. Oregon

10. Delaware

Florida has the warmest winters in the United States, there is no income tax and there is a high amount of property tax protection, which is very important for retirees.

You will also notice that on both lists, you have California, this is because the best list was based on visits to the state retirement guide of TopRetirements.com, while the other list is based on certain criteria. The biggest plus for California though was the climate.

So, where are you going to retire to spend your golden years?