Don’t call the movers yet! Did you know that deciding where to retire could be as important as the financial planning you put into preparing for retirement?
Your retirement destination will determine how much you will need to pay in taxes; your living costs and health care options, factors that are state-specific. Will you head to a year-round sunny destination or enjoy the change in the seasons?
Thanks to a recent report from WalletHub, which ranked the 182 largest US cities for their suitability for retirement, we were able to narrow the list down to 25 states you may want to avoid when you retire.
Delaware, that small mid-Atlantic state with dune-backed beaches bordering the Atlantic Ocean, Delaware River and Delaware Bay. You can find many quaint towns, stroll the boardwalks visit art galleries and yes sit in constant traffic traveling north or south on DE-1 to Rehoboth, Bethany, Dewey and Lewes Beaches. Don’t follow the shortcut on Purgatory Swamp Road!
While the state welcomes hundreds of shoppers daily who revel at the tax-free registers, the cost of living isn’t that cheap, If you choose not to live near the beach towns, the home prices in moderate neighborhoods are currently at $300,000 and rising. You will need at least one car to frequent the strip malls, supermarkets, restaurants and medical facilities, as there is no public transit in Delaware. Access and quality of the local health care system is mediocre at best.