When it comes to your retirement years, choosing the right state to settle down in can make all the difference in the world. But it can seem overwhelming finding the right place to retire given that there are so many amazing retirement destinations around the country, each with its own unique advantages and characteristics. But while you can find an amazing place to retire in any state in the country, a few retirement destinations do stand out from the pack due to their unique benefits for seniors. These destinations, including places like Arizona, Florida, or the Carolinas, stand out not only because of their warm and comfortable climates, but also because they have incredibly low retirement taxes and low costs of living, which can be incredibly important for seniors on a fixed budget. Read more about some of the most popular and best retirement states in the country.

Florida

Florida is a popular retirement destination due to its low taxes and cost of living. The state has no income tax, meaning that all forms of retirement income are untaxed, including Social Security benefits, pension income, and income from an IRA or 401(k). Florida's property and sales tax are about the national average, with an effective property tax rate of just 0.83%, making it favorable for retirees. The state also boasts warm weather all year long, with roughly 230 days of sunshine and many outdoor recreational centers. Florida's healthcare system has evolved to cater to the needs of retirees, with top-of-the-line facilities and specialized care for older adults. The state's retiree-based population also offers opportunities for socializing and forming new friendships through golf leagues, biking clubs, and active adult communities. As a top tourist destination, there is always something to do in Florida, from visiting Walt Disney World Resort in Orlando to the famous beaches of the Florida Keys.

Arizona

Arizona has become a popular destination for people due to its many benefits. It has a friendly climate for both outdoor activities and businesses, low taxes, and affordable living costs. The state has a lower median property tax than other states, low state income taxes, and it does not tax Social Security benefits, estate, gift, or inheritance tax. In addition, Arizona has many affordable housing options, as well as active adult communities. The state also offers beautiful natural landscapes, with the highest number of national parks in the country, and a range of outdoor activities, including golf. Arizona is a great place to live, work, and play, with diverse and unique cities that cater to different lifestyles.

Georgia

Retiring to Georgia can be a great option for those looking for a warm climate, affordable cost of living, and diverse housing options. The state offers a tax-friendly system for retirees, including exemptions for retirement income and property taxes. Along with low taxes, Georgia also has a relatively modest cost of living, ranking below the national average. The state's affordable housing market, including median home prices lower than many other popular retirement destinations, is a key factor in its popularity. In addition, Georgia has a range of cities and towns to choose from, including historic coastal towns like Savannah and cultural hubs like Atlanta. The state's warm and semi-tropical climate, with miles of Atlantic coastline and fewer hurricanes than Florida, makes it a great destination for outdoor activities like golf and watersports. Overall, Georgia offers a desirable retirement lifestyle for those seeking affordability, weather, and variety.

North Carolina

North Carolina has become one of the increasingly popular retirement destinations in the country, with great weather year-round, a low cost of living, low taxes, and a variety of amazing cities with great housing and healthcare options. It features over 300 miles of pristine beaches, the famous Outer Banks with historic homes and charming downtown areas, the Blue Ridge and Smokey Mountains with amazing mountain getaways, and Asheville, a popular vacation and retirement destination with endless, gorgeous hikes through the mountains and amazing dining and nightlife options. Raleigh-Durham and Chapel Hill are also popular destinations. North Carolina's low tax climate allows retirees to deduct all Social Security income from their taxable income in the state, and enjoy a favorable sales tax climate, and low property taxes.

‍South Carolina

South Carolina is a great retirement destination due to its warm climate, beautiful outdoor spaces, and affordable cost of living. South Carolina offers geographic diversity, from mountains to lakes, rivers, and beaches, and has over 350 golf courses. South Carolina has some of the lowest taxes for retirees in the US and does not tax Social Security benefits. In addition, South Carolina has a low property tax rate, with property taxes for retirees even lower. The state's average cost of living is slightly below the national average. Some popular retirement cities in South Carolina include Charleston, Myrtle Beach, and Beaufort.

Mississippi

Mississippi may not be the first place you think of for a warm weather retirement destination, but it's a hidden gem for seniors looking for an affordable place to retire. With some of the lowest retirement taxes in the country and a low cost of living, Mississippi can be an ideal retirement location. The state exempts nearly all forms of retirement income from its taxes, including Social Security retirement benefits, 401(k)s, IRAs, and pensions, making it a great option for those on a fixed income. Mississippi also has some of the lowest property taxes in the US and a homestead exemption for seniors over the age of 65, exempting the first $7,500 of home value. Additionally, the state's low cost of living means seniors can make the most of their retirement savings and enjoy a comfortable lifestyle without breaking the bank. Housing costs and healthcare expenses are particularly affordable, making it an excellent place for seniors to retire on a budget.

California

Another place you might not think of as a traditional retirement destination is California, but at the end of the day the country’s most populous state has tons of retirees, and with them come all the amenities and services that California has developed to make their retirement years great. Retiring in California offers several benefits for seniors, including a favorable climate that allows for outdoor activities, diverse communities that provide a sense of connection and belonging, a strong economy with access to employment opportunities, and tax benefits such as no state tax on Social Security benefits and property tax exemptions for seniors. California also offers programs and services specifically designed for seniors, including funding for community-based organizations that offer transportation, meals, and in-home care, as well as information and assistance on Medicare and other senior-related issues through the California Department of Aging.

To learn more about how Sunbound can help make paying for senior living and senior care more affordable for you or your senior loved one, send us an email at info@sunboundhomes.com or request more information on Sunbound. Sunbound is the best way to pay for senior living and senior care, and we’re on a mission to make senior living and senior care more affordable for everyone.