Deciding where to spend your golden years becomes more important as you get closer to retiring. Many retirees want a place that is not only affordable but also safe and peaceful. Finding a state that is both cheap and safe to retire in is not easy.
You have to consider things like the cost of living, taxes, healthcare, community involvement, and overall safety. This guide will help you find states that offer a good balance of affordability and security, so you can enjoy your retirement without any worries.
Whether you want to live in the quiet countryside or in a bustling city, finding a retirement spot that fits your budget and safety needs is crucial for a happy and stress-free retirement.
How Do You Find The Cheapest And Safest States For Retirement?
To find the cheapest and safest states for retirement, you need to do some research on economic factors and consider your personal safety and lifestyle preferences. Here are some factors to consider before choosing the cheapest and safest place to retire:
Analyze Cost of Living and Taxation: Use websites that calculate the cost of living to compare states based on expenses for things like housing, food, and healthcare. Look into how states handle taxes, especially those without income tax, with low property taxes, and exemptions for retirement income, to save as much money as possible.
Research Safety and Crime Rates: Check the safety of possible places to retire by looking at crime numbers. Websites like the FBI’s Uniform Crime Reporting (UCR) Program or local police can give you information on how much violent and property crime happens, which can help you find safe communities.
Evaluate Healthcare Quality and Accessibility: Give priority to states with easy-to-reach, good healthcare facilities, especially those with well-known hospitals and specialized services for older adults. The quality of healthcare can greatly affect your retirement comfort and peace of mind.
Consider Quality of Life Factors: Having a good life is important for a happy retirement. Look into things like fun activities, cultural things to do, and the overall feeling of the places you are considering. Online forums, social media groups, and state tourism websites can give you an idea of what life is really like in those places.
Visit and Experience Firsthand: If you can, go to your favorite states to experience the community, weather, and way of life yourself. Spending a short time or a long time there can help you figure out if a state is safe and affordable for retirement, like you want it to be.
What Is The Cheapest And Safest State To Retire In?
5 Cheapest States To Retire In
It is the year 2024, and if you are curious about which state in the US is the least expensive to retire in, we have the list for you! Here are five places in America where you can enjoy your retirement peacefully without spending too much money!
1. Missouri
If you want to retire in the cheapest states in the Midwest of the US, then go to Missouri. Missouri has inexpensive housing, a mix of cultures, and a welcoming, cozy atmosphere for retirees to enjoy their retirement.
- Home care: $5,057
- Assisted living: $3,183
- Nursing homes: $5,582
2. Alabama
Alabama is famous for its pretty views, friendly people, and affordable living, which is great for retirees. And there are some really nice retirement communities there too!
- Home care: $4,167
- Assisted living: $3,828
- Nursing homes: $7,295
3. Mississippi
Retiring in Mississippi can be like a calm and enjoyable boat trip for older people. Why? Because of its pleasant weather, lovely neighborhoods, and reasonably priced housing choices, seniors can enjoy their retirement funds while experiencing a more relaxed way of life.
- Home care: $4,167
- Assisted living: $3,825
- Nursing homes: $7,778
4. West Virginia
Located in the Appalachian Mountains, West Virginia provides a beautiful natural environment, an affordable way of living, and a variety of outdoor activities, such as hiking, for retirees to enjoy during their retirement.
- Home care: $3,742
- Assisted living: $4,413
- Nursing homes: $12,327
5. Lowa
Iowa is known for its friendly people, interesting things to do, and affordable living, making it a great place for retirees to enjoy their later years in a comfortable and welcoming atmosphere.
- Home care: $6,042
- Assisted living: $4,772
- Nursing homes: $7,511
5 Safest States To Retire In
When thinking about how safe a place is to retire, it’s important to look at things like crime rates, healthcare quality, and how well the residents are doing overall. Based on different measures of safety, like crime stats and healthcare quality, here are five states that are often considered very safe for retirees:
1. Minnesota
Minnesota is highly ranked in all areas.
A small number of retired people have difficulty paying for healthcare, and there are very few healthcare providers for older adults compared to the number of older adults.
It has roads that are safe, and the number of people who die between the ages of 65 and 74 is lower than in 90% of the country.
Additionally, there is a small chance of feeling socially isolated, even though winters can be quite difficult.
There is not much fraud in the state compared to other places. The number of fraud cases per person is much lower than average.
2. Hawaii
Moving to Hawaii for retirement might be a dream come true, and if staying safe is a top priority, there are only a few states that are more suitable for retirees.
Hawaii is good at providing healthcare for older people, but it can be expensive. It’s also important to mention that people who need care at home may have difficulty finding help.
Hawaii has less car accident deaths than any other state. Gun deaths are also unlikely. Both of these things might be why fewer people between 65 and 74 years old die in Hawaii.
There is a possibility of feeling alone in Hawaii. It is the 14th most isolated state in the US. However, if you have to be alone, being on a tropical island is not so bad.
There is not much fraud in the state, and the amount of fraud per person is lower than the average.
3. Connecticut
Connecticut is a good place to retire because it is very safe for seniors and it’s not far from New York City, so you can easily visit there.
In Connecticut, there are many doctors who specialize in caring for older people, and most residents can pay for healthcare without any problems. However, the cost of housing in Connecticut is very high compared to other places in the country. So, even if more people in Connecticut can afford healthcare, it doesn’t mean that it is affordable for everyone else.
The roads in Connecticut are usually safe. And if you drive into New York, they’re even safer. Gun deaths are also not very common. The only state with fewer deaths at a young age is Hawaii.
Connecticut is neither among the highest nor lowest in terms of risks for feeling lonely or isolated. If you have a close group of friends nearby, it would be a good place to retire rather than depending on local communities for social connections.
Connecticut also has average levels of fraud.
4. New Hampshire
The beautiful sights in New Hampshire might be exactly what you desire during your retirement. Additionally, you can enjoy these views in one of the safest states for retirees.
There are many geriatric providers in New Hampshire compared to other places. The state is the best in the country when it comes to residents being able to pay for care. However, housing costs are also high in the state, so keep that in mind.
New Hampshire has more motor vehicle and firearm deaths for adults age 65 and above compared to the average. However, it has a lower rate of early deaths compared to all but seven other states, possibly because of better healthcare access.
In New Hampshire, the chances of feeling lonely or isolated are very small. The state is ranked second in the country for having strong and close-knit communities.
Fraud in New Hampshire is just a little bit better than the average levels.
5. Colorado
Colorado’s mountains offer many retirement activities, and the state is also very safe for retirees.
The state is good at having a lot of old people doctors and they are not too expensive.
Road safety is superior to the average and is among the top 15 states with the lowest number of deaths from car accidents. On the other hand, deaths caused by firearms are higher, but if you are not a hunter, the likelihood of being affected by this rate decreases significantly.
There are many neighborhoods for older people in the state, making sure that seniors don’t feel lonely.
There is a lot of fraud in the state, so make sure to protect yourself if you want to retire to the mountains.
Many seniors want to retire in a state that is cheap and safe. Missouri, Alabama, and Mississippi are popular options because they have low costs of living, good tax conditions, and prioritize senior safety. However, the right state for you will depend on your own needs, preferences, and money situation. Doing thorough research and considering all aspects of potential retirement places can help you find a state that meets your retirement goals and lets you enjoy your retirement fully.
Thanks for reading. I hope you find it interesting.
