When you think retirement, you probably don't think about retiring to the Northeast. In that part of the U.S., winters can be cold, the cost of living can be steep, and taxes tend to be high. And yet, after analyzing all 50 states for retirement based on the financial factors most critical to retirees, New Hampshire managed to land a spot among the top 10 best states for retirees along with perennial warm-weather favorites such as Florida, Georgia and Hawaii. Read on to learn why the Granite State makes for an enticing retirement destination in the Northeast.
See Also: The Worst States for Retirement
New Hampshire: #9 Best State for Retirement
Population: 1.3 million
Share of population 65+: 15.9% (U.S.: 14.5%)
Cost of living: 18% above U.S. average
Average income for 65+ households: $53,204 (U.S.: $53,799)
Average health care costs for a retired couple: $424,052 (U.S.: $423,523)
Tax rating for retirees: Most Tax Friendly
The Granite State's current tax situation gives retirees a solid advantage. Ranking among the 10 Most Tax-Friendly States for Retirees , it doesn't tax Social Security benefits or other retirement income or levy any sales tax. That savings helps balance out the above-average living costs and below-average household incomes. Another plus: New Hampshire ranks fifth in the U.S. for senior health, according to the United Health Foundation.
Learn more about how we ranked all 50 states for retirement including our methodology and data sources.
See Also: Beware: 13 States That Tax Social Security Benefits
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
