What are the top 3 states to retire?

The top states to retire vary by ranking, but Florida, New Hampshire, and Minnesota consistently appear at the top for offering a strong mix of affordability, good healthcare, low taxes (especially Florida/NH), and quality of life, though Western states like Wyoming and Idaho, plus New England states like Maine and Vermont, also rank highly for safety, taxes, and outdoor access.

What state is best financially to retire in?

Financially, the best states for retirement often have low or no state income tax and a low cost of living, with Wyoming, Florida, South Dakota, Tennessee, Texas, and New Hampshire frequently topping lists due to tax advantages like no income tax on retirement income. Mississippi and West Virginia are noted for extremely low living costs, while states like Minnesota and North Dakota excel in healthcare, balancing financial perks with quality of life, making choices depend on whether low taxes or low expenses are the priority. 

Where can I retire on $2000 a month in the United States?

You can retire comfortably on $2,000 a month in the U.S. by focusing on affordable Midwest and Southern cities, with top contenders including Fort Wayne, Indiana, Fargo, North Dakota, Knoxville, Tennessee, Oklahoma City, Cincinnati, Ohio, and several locations in Texas (like Brownsville, Abilene) and Florida (like Tallahassee, Fort Myers), which offer lower costs for housing, groceries, and healthcare while still providing good livability and amenities. 

What state is #1 retirement?

There's no single #1 state, as it depends on priorities, but Florida often tops lists for low taxes & warmth (WalletHub, Edelman), while New Hampshire leads for overall well-being, safety, & healthcare (Bankrate), and Wyoming scores high for tax competitiveness (Empower). Other top contenders include Maine, Vermont, Wyoming, Minnesota, and Utah, showcasing a mix of sunny & four-season locations excelling in different factors like affordability, healthcare, or lifestyle.
 

Where do the happiest retirees live?

Barnstable MA is the happiest city in the US for retirees for it's high level of social interactions, activities and entertainment.

Top 3 Best States to Retire in 2025 – You Won’t Believe #1!

Where is the nicest and cheapest place to retire?

1. Fargo, ND. With its low costs and generous tax situation, North Dakota has consistently ranked high among our best states for retirement.

What is the number one mistake retirees make?

The top ten financial mistakes most people make after retirement are:

• 1) Not Changing Lifestyle After Retirement. ...
• 2) Failing to Move to More Conservative Investments. ...
• 3) Applying for Social Security Too Early. ...
• 4) Spending Too Much Money Too Soon. ...
• 5) Failure To Be Aware Of Frauds and Scams. ...
• 6) Cashing Out Pension Too Soon.

Can I live off $5000 a month in retirement?

To retire comfortably, many retirees need between $60,000 and $100,000 annually, or $5,000 to $8,300 per month. This varies based on personal financial needs and expenses.

Which state has no property tax for seniors?

States that offer property tax exemptions to seniors

Alabama: Exempts seniors from the state portion of property taxes; county taxes may still apply. Alaska: Exempts the first $150,000 of assessed home value for homeowners aged 65-plus.

How many people have $1,000,000 in retirement savings?

Data from the Federal Reserve's Survey of Consumer Finances, shows that only 4.7% of Americans have at least $1 million saved in retirement-specific accounts such as 401ks and IRAs. Just 1.8% have $2 million, and only 0.8% have saved $3 million or more.

What is the $27.40 rule?

The $27.40 Rule is a personal finance strategy to save $10,000 in one year by consistently setting aside $27.40 every single day ($27.40 x 365 days = $10,001). It's a simple way to reach a large financial goal by breaking it down into small, manageable daily habits, making saving feel less intimidating and more achievable by cutting small, unnecessary expenses like daily coffees or lunches.
 

What is the nicest, cheapest place to live in the US?

Keep reading to learn which cities are rated as the most budget-friendly places to call home.

• Most Affordable Cities in the US.
• Hickory, North Carolina.
• Brownsville, Texas.
• Fort Wayne, Indiana.
• Dayton, Ohio.
• Sioux Falls, South Dakota.
• Knoxville, Tennessee.
• Erie, Pennsylvania.

What is a good monthly income when retired?

A good monthly retirement income is often considered 70-80% of your pre-retirement income, but it truly depends on your lifestyle, location, and expenses, with benchmarks ranging from $4,000-$8,000+ monthly for a comfortable life, factoring in needs like housing, healthcare, and travel. Financial planners suggest calculating your specific "income gap" by subtracting guaranteed income (like Social Security) from your estimated needs to see what you need from savings. 

What is the cheapest and happiest state for retirees?

Cheapest States to Retire In

• Mississippi. Cost of Living: Lowest in the U.S. ...
• Alabama. Cost of Living: Significantly lower than the national average. ...
• Arkansas. Cost of Living: Among the lowest in the nation. ...
• Oklahoma. Cost of Living: Lower healthcare and housing costs. ...
• West Virginia. ...
• Tennessee. ...
• South Carolina. ...
• Kentucky.

Is it better to rent or buy in retirement?

Renting vs. buying in retirement involves a trade-off between flexibility/less responsibility (renting) and stability/equity (owning), with renting offering freedom to move and no maintenance worries but rising costs, while owning provides fixed housing costs (if paid off) and potential appreciation but requires upkeep and commitment, making the best choice highly personal, depending on your finances, health, and desired lifestyle. 

What is the $1000 a month rule for retirement?

The $1,000 a month retirement rule is a simple guideline stating you need about $240,000 saved for every $1,000 of monthly income you want from your investments in retirement, based on a 5% annual withdrawal rate ($240k x 0.05 / 12 = $1k/month). It's a motivational tool to estimate savings goals (e.g., $3,000/month needs $720k), but it's one-dimensional, doesn't account for inflation, taxes, or other income like Social Security, and assumes steady 5% returns, making a personalized plan essential. 

What age do seniors stop paying taxes?

In the United States, there is no specific age at which seniors automatically stop paying taxes. However, as you get older, your tax responsibilities can change.

What is the best state to move to avoid taxes?

Last updated: May 2025. As of 2025, nine U.S. states levy no personal income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. For high-net-worth individuals, understanding the nuances of these tax structures is crucial for effective financial planning.

Does owning a home impact social security benefits?

We do not count a home regardless of its value. However, see §§ 416.1220 through 416.1224 when there is an income-producing property located on the home property that does not qualify under the home exclusion.

What is the average Social Security check?

As of early 2026, the average Social Security check for retired workers is around $2,071 monthly, though figures vary slightly by source and month, with recent averages in late 2025 around $2,000-$2,012. This amount is an overall average, with higher payments for those claiming at Full Retirement Age or later, and lower for early retirees, and depends on your earnings history, age at claiming, and Cost-of-Living Adjustments (COLA). 

What are the biggest retirement mistakes?

The biggest retirement mistakes involve poor planning (starting late, underestimating costs like healthcare/inflation, not having a budget) and bad financial decisions (claiming Social Security too early, taking big investment risks or being too conservative, cashing out accounts, having too much debt). Many also neglect the non-financial aspects, like adjusting lifestyle or planning for longevity, leading to running out of money or feeling unfulfilled. 

What is the biggest retirement regret?

Retirement Regrets: Top 15 Things Retirees Wish They Had Done Differently

• Plan More Carefully for the Fun You Want to Have in Retirement. ...
• Not Saving Enough. ...
• Not Retiring Earlier. ...
• Not Planning Adequately for Healthcare. ...
• Staying Uninformed About Personal Finance. ...
• Invest Too Conservatively — or Too Aggressively.

What are the 3 R's of retirement?

The Three R's of Retirement: Resiliency, Resourcefulness & the Renaissance Spirit.

What does Suze Orman say about retirement?

Orman recommended making the most of retirement accounts like 401(k)s and IRAs. She suggested contributing enough to get any employer match, as this is essentially free money. For those closer to retirement, taking advantage of catch-up contributions allowed for individuals over 50 can be a smart move.