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Unveiling the best states to retire in 2023

Unveiling the best states to retire in 2023

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best states to retire in 2023

Are you ready to embark on a new chapter in life where relaxation, adventure, and fulfillment take center stage? Because in this blog, we are about to unveil the best states to retire in 2023.

Whether you envision yourself basking in warm sunshine, surrounded by pristine natural beauty, or immersing yourself in vibrant cultural scenes, we have curated a list that will inspire and guide you toward your ideal retirement haven.

So, let us be your trusted guide in discovering the perfect place to embark on your next adventure – the best states to retire in 2023 await your exploration!

Factors to consider when choosing a retirement state in 2023

When it comes to choosing a retirement state, one of the most crucial factors to consider is the cost of living. Retirement is often associated with fixed incomes and careful budgeting, so finding a state with an affordable cost of living can significantly impact your financial stability and overall quality of life. Here are some key aspects apart from cost of living to consider when choosing a retirement destination:

1. State taxes

State taxes can have a substantial impact on your retirement finances. Some states have no income tax, while others have high income tax rates. Look into the state’s tax structure, including income tax, sales tax, property tax, and any exemptions or deductions available for retirees. States with favorable tax policies for retirees can help stretch your retirement savings further.

2. Healthcare system and costs

Access to quality healthcare is essential during retirement. Research the cost of health insurance premiums, co-pays, and deductibles in different states. Additionally, consider the availability of Medicare Advantage plans or supplemental insurance options that may benefit retirees. Some states may have more affordable healthcare systems or offer special programs for retirees.

3. Proximity to family and friends

Proximity to family and friends is critical when choosing a retirement state. Being near loved ones provides emotional support, as regular social interactions foster a strong support system and enhance overall well-being. Additionally, having loved ones nearby can be invaluable in times of need, such as health issues or emergencies, as they can provide both emotional and practical assistance.

4. Outdoor activities and amenities

Retirement is a time to indulge in hobbies, explore new interests, and enjoy leisure activities. Opting for a state that offers a wide range of recreational opportunities and cultural attractions ensures that your retirement years are filled with exciting experiences and adventures. Access to amenities such as fitness centers, parks, community centers, and libraries also enhances your quality of life by providing opportunities for socializing, staying active, and pursuing personal interests.

5. Housing options

The right housing can significantly impact your comfort, financial stability, and overall satisfaction during your retirement years. Also, exploring different housing types, such as single-family homes, assisted living facilities, or age-restricted communities, allows you to find the option that best suits your preferences and needs.

The best states to retire in 2023

While the best states to retire in 2023 can vary depending on individual preferences and priorities, several states consistently rank high for older adults nearing retirement age. After careful consideration of various factors, including cost of living, healthcare, lifestyle amenities, and overall retiree-friendly features, we present our top picks to retire in 2023:

1. Delaware

Number one on our list of the best states to retire in 2023 is Delaware, and there are several key factors that have led us to rank it in the top spot. Let’s take a look:

Factors Overview
Cost of living Slightly (4%) above the national average. Utility costs, transportation, and grocery prices are generally in line with national averages.
Climate and weather Moderate climate with four distinct seasons. Summers are generally warm and humid, while winters are typically cold, but not as severe as in some northern states.
Healthcare facilities Well-established healthcare system and ranks number 1 for hospital quality. The Christiana Care Health System in Wilmington is the largest healthcare provider in the state.
Recreational opportunities Delaware has beautiful coastline and pristine beaches. The state also has state parks and nature reserves where visitors can enjoy hiking, biking, fishing, and other outdoor activities.
Tax considerations Delaware is one of the most tax-friendly states in the nation. It has no state sales taxes or income taxes on Social Security benefits. Also, has relatively low property taxes, and no state tax on qualified pension income.
Crime rate Experiences varying levels of crime rate depending on location. But property and violent crime rates are slightly higher than the national average.

2. Florida

Florida is an undeniable frontrunner when it comes to the best states for retirement in the United States. With numerous advantages that have stood the test of time, the Sunshine State remains a top choice for retirees.

Factors Overview
Cost of living Florida’s cost of living is slightly (2%) above the national average. Housing costs in Florida are approximately 4% higher than the national average, while utilities are about 1% higher.
Climate and weather Florida is known for its warm climate and abundant sunshine, which is particularly appealing to retirees looking to escape colder climates.
Healthcare facilities Florida has a moderate healthcare system with monthly health insurance cost of $467 approx.
Recreational opportunities Florida is also known for its golf courses, parks, 1,300 miles (about 2092.15 km) of coastline, nature reserves, wildlife, and beaches, providing plenty of options for outdoor enthusiasts.
Tax considerations One of the best states to retire in 2023 for taxes. It has no state income tax, and zero taxes on pension income and Social Security benefits. Moreover, inheritance or estate taxes are also exempted in Florida.
Crime rate Florida has low crime rates, with 3.8 violent crimes per 1,000 people. The statewide crime rate is well below the national average.

3. Maine

Regarded as the safest state across the nation, Maine is number #3 on the list. Let’s have a look at the other factors that make it a top choice for retirement destination in 2023:

Factors Overview
Cost of living A bit above the national average but utilities, housing, and healthcare costs are much lower. Maine is the cheapest state to retire in New England.
Climate and weather Coastal areas lean towards milder temperatures due to the influence of the Atlantic Ocean, while inland areas can have colder winters and hotter summers.
Healthcare facilities Well-developed healthcare system with a range of facilities and providers. Also, Maine law mandates free medical care for residents with income below 150% of the poverty level.
Recreational opportunities Maine is known for its charming small towns, cultural events, and local festivals that provide a rich and vibrant retirement experience.
Tax considerations Does not tax Social Security benefits but other retirement incomes are taxed at 7.15%. Property taxes are also moderately high.
Crime rate Maine boasts the lowest rate of violent crime in the United States, with only one incident per 1,000 people. Property crime rate is also low.

4. North Carolina

You saw this one coming, didn’t you? Next up on our list of the best states to retire in 2023 is North Carolina. Here’s what retiring in North Carolina will look like:

Factors Overview
Cost of living One of the affordable states to retire in with housing costs 15% lower than US average and utilities 2% lower. It’s an attractive option for retirees looking to stretch their savings.
Climate and weather Pretty diverse, with humid subtropical climate in the coastal areas and more moderate temperatures and heavy rainfall in the mountainous regions.
Healthcare facilities Cities like Raleigh, Charlotte, and Durham have top-notch hospitals and long-term care facilities (around 425 nursing homes) that can cater to the healthcare needs of retirees.
Recreational opportunities The state’s diverse geography provides various outdoor activities. From pristine beaches and water sports to hiking, camping, and scenic drives in mountainous regions like the Blue Ridge Mountains, there’s something for everyone to enjoy.
Tax considerations Relatively moderate tax burden with no inheritance or Social Security taxes. But other retirement incomes have a flat tax rate (4.99%).
Crime rate Slightly above the national average with 4.30 violent crimes per 1000 people, and 22.40 property crimes per thousand residents.

5. Vermont

Vermont has been steadily climbing the ranks as a preferred retirement destination, and the reasons behind its allure are worth exploring. Let’s delve into what makes Vermont an attractive choice for retirees:

Factors Overview
Cost of living Housing is costlier than the US average, but utilities are about 8% lower. The state has a thriving economy so retirees can also look for an additional source of income post-retirement.
Climate and weather Strong winters, characterized by cold temperatures and significant snowfall. Summers are warm and pleasant.
Healthcare facilities Vermont has a well-regarded healthcare system and ranks 4th in healthcare affordability. It has a special focus on preventive care and wellness programs.
Recreational opportunities Dotted with charming small towns that offer a close-knit community feel. The state is home to numerous art galleries, theaters, music venues, and annual festivals.
Tax considerations Vermont has a state income tax, with rates ranging from 3.35% to 8.75%. However, the state offers exemptions for Social Security benefits and provides deductions for retirement income.
Crime rate One of the lowest crime rates across the country with just 1.87 violent crimes per 1000 residents.

6. Texas

And, of course, we can’t overlook the undeniable allure of Texas! This beloved state has captured the hearts of retirees for countless reasons. Let’s see what you can expect from retiring in Texas:


Factors Overview
Cost of living Overall, about 8% lower than the US average. Housing cost is 16% lower but utilities may cost a bit more.
Climate and weather Texans experience a diverse climate, with mild winters in the southern parts of the state and hotter summers in the central and western regions.
Healthcare facilities Major cities such as Houston, Dallas, and Austin have excellent healthcare infrastructure. However, the state’s been ranking poorly regarding women’s and children’s health.
Recreational opportunities Known for its vibrant cultural scene, with museums, theaters, music festivals, and sports events. It also boasts beautiful natural areas, including national parks, lakes, and coastal regions.
Tax considerations No taxes on Social Security benefits, withdrawals, or pensions, making it one of the most tax-friendly states for retirees.
Crime rate Texas has a slightly higher crime rate compared to the national average. The violent crime rate is 4.55, while property crime rate is 21.91.

Honorable mentions

While our top choices for the best states to retire in 2023 have been discussed, there are a few honorable mentions worth noting:

1. Tennessee

Tennessee offers a low cost of living, favorable tax policies (with zero state and retirement income taxes), and a variety of scenic landscapes. The state is known for its vibrant music scene, rich history, and outdoor recreational opportunities.

2. New Hampshire

New Hampshire is another excellent choice for retirees. The state has a favorable tax environment for retirees with zero personal income tax. In addition, there is no sales tax, estate tax, or inheritance tax here. The state also has a top-quality healthcare system, a wealth of recreational opportunities, and delightful weather conditions.

3. Georgia

With its mild climate, southern charm, and affordable housing options, Georgia is an attractive retirement destination. The state offers a mix of bustling city life in Atlanta and charming coastal towns like Savannah. The state also has low tax rates and generous breaks for seniors on fixed incomes.

4. Virginia

Virginia offers a rich history, scenic landscapes, and a wide range of cultural attractions. The state has charming towns, access to beaches, and proximity to major cities like Washington, D.C. While it imposes taxes on incomes other than Social Security benefits, the rates are pretty low. Besides, residents aged 65 and older may be eligible for a deduction of up to $12,000 on their taxable income.

5. Colorado

Colorado stands out for its awe-inspiring mountain ranges, abundant outdoor activities, and thriving cultural scene, making it an ideal choice for those seeking an active and vibrant retirement lifestyle. Moreover, the state boasts exceptional luxury retirement communities, ensuring a seamless transition into retirement living with premium amenities and services.

Final thoughts

Ultimately, choosing a retirement destination depends on personal preferences, priorities, and aspirations. Whether you’re seeking adventure, relaxation, or a mix of both, the best states to retire in 2023 await your discovery.

We sincerely hope this blog ignites your imagination and sparks a sense of wanderlust as you envision your ideal retirement destination in the coming years. May your retirement years be filled with endless adventures, cherished moments, and the fulfillment of lifelong dreams.

Thanks for reading!


    • What are the best states to retire in for taxes?

When it comes to tax-friendly states for retirees, several options stand out.  Here are some of the best states to retire in for taxes:

  1. Alaska 
  2. Florida 
  3. Nevada 
  4. South Dakota 
  5. Wyoming 
  6. Texas 
  7. Tennessee 
  8. New Hampshire 

    • What state has the most benefits for retirees?

Florida is widely regarded as a state with numerous benefits for retirees. Its warm climate, tax-friendly environment, senior-friendly communities, recreational opportunities, quality healthcare facilities, and cultural offerings make Florida an ideal state for retirees.

    • What are the best states to retire on Social Security?

When considering the best states to retire on Social Security, it’s essential to look at factors such as cost of living, tax-friendliness, and available resources for retirees. Here are some states that are often considered favorable for retirees relying on Social Security income:

  1. Mississippi 
  2. Arkansas 
  3. Oklahoma 
  4. Tennessee 
  5. Alabama 
  6. Kentucky 
  7. West Virginia 
  8. South Dakota 
  9. Missouri 
  10. Iowa 

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