Mitch
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Mitch in $ Financial Freedom Chasers,

Where is the BEST location to retire?

So you finally accumulated enough wealth to live on your dividends.

Congratulations! Now you spend most of your Sunday nights lying on the beach and trading currency at whotrades.

But one question remains unanswered. Where do you retire?

There's no right answer to this, but some things you have to keep in mind are whether the place you have in mind has any property taxes. Chances are, you own property by this point in life. If you don't, you probably have enough net worth to pay for property in cash. Otherwise you haven't been following my blogs :P just kidding. 

Retirement is one of those chances in life to do really unusual. I hope your kids have moved out by this point. People look at it as an opportunity to move to a more affordable place that’s warmer (or colder), more rural (or urban), with good medical care and options for an active life.

Heck you can even get a part time job if you're a hard working.

Four states–Texas, Florida, South Carolina and Pennsylvania make excellent retirement choices. I'm trying to lean towards locations with warm or moderate climate. That’s not surprising since weather is one factor taken into account, and polls show seniors prefer warm climates. Nevertheless, a number of colder cities made the cut, including Fargo, N.D., Pittsburgh, Pa., and Boise, Idaho. 

Some things to consider includes overall cost of living and home prices as compared to national averages. Cut your housing costs in retirement. That’s a growing challenge since the the median home price across the country is $207,000, up 11% from last year’s $186,000. 

So listen up my readers, states with income taxes give special breaks to retirees such as light or no taxation of Social Security and pension benefits (although if you're thinking of relying on pension, don't do that since government cannot be trusted :P I kid I kid), and inheritances. In our view, the best states for retirees from a tax perspective are Alabama, Alaska, Arizona, Georgia, Idaho, Kentucky, Louisiana, Mississippi, Montana, New Hampshire, New Mexico, Nevada, Oklahoma, South Carolina, South Dakota, and Utah. Oh, did I mention Florida? :P