Florida has always been a popular retirement destination for retirees, but it’s not the only place people who are about to retire are thinking about. Several other states in the South appeal to soon-to-be retirees, too.
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GOBankingRates surveyed 1,395 Americans from across the country to see where they might want to retire in the U.S. About 44% of respondents said they’d pick the South over anywhere else in the country, but a few specific states made the top of the list.
Here’s where people said they’d prefer to retire, outside of Florida, as well as some factors to consider when choosing your retirement state.
Top 5 States To Retire (Besides Florida)
Of course, Florida is still high on retirees’ lists, with 27% of respondents choosing it as their ideal retirement state in the South. But besides The Sunshine State, these are the other top destinations (according to our survey).
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Texas
13% of respondents said they’d choose Texas as their retirement spot.
Texas has a lot to offer when it comes to its more moderate climate and lower overall cost of living. According to the Missouri Economic Research and Information Center (MERIC), Texas ranks 19th in terms of the cheapest states to live in. Everything besides utilities falls below the national average cost.
The Lone Star State is also tax-friendly for retirees. There’s no state income tax, so retirement benefits — like Social Security — are tax-free. Other taxes, like property and sales tax, tend to be higher, but for renters or frugal retirees, this isn’t necessarily an issue.
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North Carolina
Another 11% of those surveyed said they’d retire in North Carolina.
In terms of the overall cost of living, the Tar Heel State falls somewhere in the middle. Healthcare costs are above the national average, but everything else — from groceries to housing to transportation — tends to be cheaper.
North Carolina also has a fairly moderate temperature with winters that aren’t too cold and summers that, while hot and humid, are more tolerable than Florida. The state also has the mountains and ocean, so retirees who want a variety of landscapes have options.
Those retiring to North Carolina may want to be aware of the taxes, though. There’s a state income tax of 4.75%, something even retirement income from Social Security, IRAs and pensions is subject to.
South Carolina
In the survey, 8% of respondents picked South Carolina as their southern retirement destination.
South Carolina is slightly less expensive than North Carolina in all things except for utilities. Healthcare costs, housing, and other daily expenses are lower than the national average.
The state also benefits from a moderate climate and historic charm. Plus, there’s no Social Security tax there, meaning those living on a fixed income can get more for their money.
Kentucky
Just below South Carolina was Kentucky with nearly 8% of people choosing it as their ideal retirement location in the South.
According to MERIC, the Bluegrass State has an overall cost of living of just 92, making it the 15th least expensive state to live in. Certain things, like groceries and utilities, are slightly above the national average. But with the cost of housing, healthcare, and other everyday goods cheaper than many other parts of the country, that might not be a problem.
Kentucky does partially tax retirees, but it depends on the overall income amount. Along with this, certain pension benefits earned on or before December 31, 1997 are exempt from the state’s income tax.
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Tennessee
The final state on this list is Tennessee with close to 7% of those surveyed saying it was their preferred state.
Although certain places in Tennessee, like Nashville, have become more expensive, the state is still one of the cheapest places in the country to retire. Its overall cost of living index is just 90.3, and it’s the eighth least expensive state to live in.
Aside from beautiful scenery and a diverse music, food, and cultural scene, Tennessee also has retirement-friendly tax laws. There’s no state income tax, meaning retirees won’t have to worry about taxes at the state level. Property taxes are also relatively low, which is good news for homeowners.
Important Considerations To Make Before Retiring
Choosing where to retire is a major decision, so it’s important to weigh your options and the pros and cons of each place on your list. GOBankingRates spoke with Loretta Kilday, senior attorney and financial expert at Debt Consolidation Care, about what people should consider before making the plunge.
Here are her top suggestions:
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Overall cost of living: “Look at housing prices, taxes, healthcare costs, etc. and how they fit your retirement budget,” said Kilday. Consider grocery costs, entertainment, and transportation, too. Even with these expenses, many of these Southern states are cheaper than Florida.
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Taxes: Your chosen state doesn’t have to have retirement-friendly tax laws, but it helps keep costs down and your income go further.
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Healthcare access: “Research hospitals, doctors and Medicare acceptance rates in the area,” she said.
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Available amenities: Look over the amenities in your chosen area. See if they fit your needs and lifestyle preferences.
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Political climate: “The South tends to lean more conservative politically which may or may not align with your views,” said Kilday. If you’re not particular either way, or if you’re more conservative yourself, this might not be an issue.
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Weather or climate: Most Southern states have hot, humid summers and mild winters. If this doesn’t suit you, you might need to look elsewhere. On the other hand, parts of Georgia, North Carolina and Texas are more moderate throughout the year.
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This article originally appeared on GOBankingRates.com: Top 5 Southern States Where Boomers Want To Retire in 2024 (Outside of Florida)