Retirees have different requirements than recent college graduates or families with young children when it comes to a hometown—though the overall livability of a city is crucial for everyone. While retirees have historically flocked to sunny states like Arizona and Florida—abundant with golf courses, beaches and bingo nights—or moved closer to family, that’s starting to change. Many retirees simply want to live in one of the least stressed states or a place where their retirement dollars go a little further, such as one of the U.S. states where you can retire on $65,000 a year.
However, this isn’t your grandparents’ retirement, and many retirees want to use their hard-earned spare time to enjoy activities they fell in love with during their working years but didn’t have the time to appreciate fully. Think hiking, skiing, mountain biking, fishing, hunting and more.
Online insurance agency BizInsure published a report last month sharing details on the Western state retirees have been flocking to over the past decade. Keep reading to find out where this is and what makes it a haven for retirees.
Get Reader’s Digest’s Read Up newsletter for more news, wellness, travel, humor, tech, cleaning and fun facts all week long.
What’s the methodology of the study?
The methodology behind BizInsure’s report on retirement boomtowns relied heavily on the U.S. Census Bureau’s American Community Survey (ACS), which sampled demographic data on 3.5 million U.S. households.
It considered factors such as the number of residents aged 65 and older and their migration patterns within the U.S. The study also considered the basics—such as affordability and access to health care—and additional amenities, including public transportation, senior centers and golf courses.
Which state did more retirees move to in the past decade?
STEFAN AUTH/GETTY IMAGES
More retirees moved to Wyoming than any other state in the past decade. Depending on your retirement needs and desires, Wyoming has a lot to offer.
Why is Wyoming popular with retirees?
Wyoming is popular with retirees for a host of reasons, as we detail below, but if you need to live near a Costco or want access to Broadway shows, it might not be the state for you.
Wyoming is tax-friendly
Wyoming is tax-friendly for everyone, seniors included. It’s one of a handful of states that don’t tax Social Security benefits, pensions or 401(k) and IRA distributions—plus Wyoming doesn’t have an estate tax.
And the Equality State is getting even friend …
See the full article on Arizona residential development, or, read more Arizona real estate investing news. Feel free to share our site with your investor friends.
