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Your Guide to Frugal Retirement

Best retirement states...be careful how you choose

The best retirement states for you may be a lot different for you and the next guy. Be careful how you choose, there are many more factors than you are probably aware of at first glance.

The best advice I can give you in choosing the best retirement state, is to not be in a hurry.

You have worked all your life to retire you do not have to make this decision today, or tomorrow.

We used an RV to help with this decision.

Take your time. The process of deciding where to retire should be a pleasant, fun adventure.

Do not be fixated on taxes

For instance, Alaska has no state income tax or state sales tax...it is still a very expensive place to live. All goods need to be trucked in and that is expensive.

If you are fortunate enough to have a high retirement income,then living in one of the seven states with no income tax is more important than to a person living only on Social Security.

For the person on Social Security alone 34 states will not tax that income.

Here is the state income tax resource.

So what is left to make the decision

OK, if it is not just taxes what else is important? Glad you asked...here is just a few of the things you should look at:

Proximity to healthcare
Proximity to family...works both ways
Cultural activities
Recreational opportunities
Security

All of these items are going to be important depending on your individual circumstances. If you must see a doctor regularly, your criteria will be a lot different than the backpacker who wants to fish the isolated lakes in the mountains.

The biggie for most...climate

For a lot of folks, picking the climate you like is the most important criteria in finding the best retirement state.

Personally, we like a lot of sunshine...and Arizona fits that bill. In fact when it is cloudy, a rare day, it is noteworthy.

Sunshine is something we do not like to be without.

If beaches are what makes it all worthwhile to you, Florida is the best.

You may have to dodge a few hurricanes but their beaches are phenomenal, especially in the panhandle.

If at all possible try before you buy

This is especially important if you are looking to move overseas. Mexico is very cheap now. But if you live in the Midwest and think Florida is the best retirement state, try and rent a place for 2 months.

Talk to the residents, go to the library, go to the bank, go to the luandromat...do the things you would do if you lived there. If you can avoid it do not make the choice while living in a hotel and eating out every meal. Make it as real as you can...you may prevent making an expensive mistake.

Most of all enjoy yourself...Hey you are going to retire...Yippee!

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