Arizona's financial health, what it means for retirees

Arizona's financial health...if you are planning to move to Arizona and retire...first off, congratulations on your great taste...you are making the right move.

It is 2011...the economy is in the tank... Arizona is not immune to the national economic influences...this should come as no surprise.

The good news is that Arizona still has great deals for homebuyers... new retirees moving to take advantage of Arizona's great weather.

But it's a lot better off than states like California, Illinois and New York.

In fact, Arizona ranks 43rd among states with financial problems, the lower the number the better... They still have problems.

But no problem so big that it would deter me for instance if I was looking to retire in Arizona.

You cannot put a price on the bug free, humidity free, climate that awaits all who move to Arizona. 

Some Arizona facts

Some Arizona facts that you may not be aware of:

  • Arizonans over 65 comprise 13.1% of the population... The US average is 12.9%
  • Arizona's debt/GDP is 4.81%... Illinois is 9.04%
  • Arizona's projected 2012 budget shortfall is $974 million...Illinois is $15 billion
  • Arizona's unemployment rate is no worse than the national average, 9.4%
  • Arizona's housing market is still very much a buyers market...good for new retirees
  • Arizona has the highest percentage, 58%, in the nation for residents living in cities over 100,000 population

So what is the effect of Arizona's financial health on retiring to Arizona?

Arizona is a conservative state... Do not look for the Arizona Legislature to follow the lead of Illinois and raise the state income tax to placate the labor unions.

Arizona is a right to work state with 8.8% of the citizens belonging to a labor union.

The Arizona economy is highly linked to the real estate business... But for buyers of real estate, Arizona is and will be for the foreseeable future very much a buyers market.

Arizona has a Republican governor, both US senators are Republican, as well is the state legislature... All which bodes well for someone contemplating moving to the state.

If you are choosing any state to retire in right now...Arizona is not only a desirable state to retire... It is in better financial shape than all but seven other states. Arizona's financial health is in relatively good shape...come on down.

Other Arizona facts of interest to retirees

If you thought that Arizona was comprised mainly of senior citizens over 65... Think again, Arizona ranks 20th in the nation... See the first bullet... Florida on the other hand has 18.1% of its citizens over the age of 65.

Sure there are communities, I live in one, that are age restricted... There are still enough young people around you to where Arizona feels very vibrant.

Did you realize that Arizona has been a state for only 100 years?...Yep, Arizona is the last of the lower 48 to become a state...Valentine's Day, 2012 is our hundredth birthday as a state.

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Statemaster website for demographic information

Arizonas financial health

In today's economy no one state is immune to the general slowdown.

Arizona is like here than most, the housing market is bottoming out, and new home construction permits are starting to increase.

So there is another reason for you to come on down and enjoy the 300+ days of sunshine that Arizona offers to its residents.

I wasn't born in Arizona...but I got here as fast as I could... There is room for you too.