The word “retirement” is a key feature of the “traditional” model of aging, now rapidly becoming obsolete. Closely linked to that word is the word “Florida.” As noted here, “Retiring to Florida has been the dream for generations of Americans, thanks to the state’s beautiful beaches, tropical weather, cultural diversity and endless variations of unique regional cultures and vibes.”
But now that model is changing, too: “The cost of housing in Florida has soared, with a median home value of nearly $393,000 well over the already prohibitive $348,539 national median.
“Also, the state’s ongoing insurance crisis is spiraling toward catastrophe and the hurricanes that have long plagued Florida’s summers and falls are becoming more frequent and severe. All of that, plus the state’s emergence as an epicenter of America’s political and culture wars, is making some people rethink the Sunshine State as the go-to retirement destination.”
A number of states are emerging as strong alternatives. Take a look at this list:
Alabama
- Tax friendly for retirees
- Low cost of living compared to other states
- Mild climate
Wyoming
- No state income tax
- Low cost of living with affordable housing options
- Lots of outdoor activities and beautiful natural landscapes
South Carolina
- Low cost of living with affordable housing options
- No tax on Social Security benefits, and generous deductions for other forms of retirement income
- Mild climate, beautiful beaches, rich cultural and historical heritage
New Hampshire
- Excellent health care services
- Low crime rate
- Natural beauty and outdoor recreation opportunities
South Dakota
- Low cost of living
- High health care quality
- Favorable tax structure
Colorado
- Many outdoor activities
- Excellent health care
- Lower-than-average crime rate
Utah
- High quality of life
- Excellent health care
- Great natural beauty, with opportunities for exploration and physical activity
It’s not surprising that there are more choices. SuperAgers are, of course, interested in cost control (they’re very conscious of the risk of outliving their money) but also looking for places where they can do more, explore more, and live an exciting life. It makes perfect sense that there should no longer be “one size fits all.”