Where are retirees moving to in 2022?

In 2022, retirees continued to flock to the Sunbelt, with Florida, North Carolina, and Arizona being the top states, attracting large numbers due to favorable climates, lower taxes, and active lifestyles, while Southwestern cities like Mesa, AZ, and North Las Vegas, NV, saw significant influxes; however, some retirees also moved to more affordable inland areas like Kansas City and Cleveland for cost savings, contrasting with high-cost areas like California and NYC that experienced major net outflows.

What state are most retirees moving to?

Despite a preference for Southwestern cities, Florida and North Carolina are the most popular states for retirees. Florida gained the most retirees over one year at a net of +44,504. North Carolina ranked second at the state level with a net gain of 20,369. Arizona was neck and neck with North Carolina at +20,203.

Where are retirees flocking to?

Retirees are fleeing California and flocking to Florida. In 2023, Florida was the most popular destination for U.S. residents aged 60 and over, according to a June study by SmartAsset, which analyzed the data from the Census Bureau's latest American Community Survey.

What countries are retired Americans moving to?

Popular spots to retire outside the U.S. often include affordable, culturally rich locations in Latin America (Panama, Costa Rica, Colombia), Mediterranean countries (Portugal, Spain, Greece), and Southeast Asia (Thailand), offering lower costs, good healthcare, pleasant climates, and retiree-friendly visas, with options like Portugal, Panama, and Costa Rica frequently topping lists for their ease, beauty, and stability. 

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.

Where Retirees Are Moving in 2025 That Will SHOCK You!

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 best financially to retire to?

The best states for financially sound retirement balance low taxes (especially no state income tax on retirement income) with affordable living, while also considering healthcare and lifestyle, with top contenders often including Florida, Wyoming, Texas, New Hampshire, Tennessee, and South Dakota, though states like Colorado, Virginia, and Delaware also rank highly for varied reasons like good healthcare or low property taxes. Key financial factors are state income, sales, and property taxes, plus potential deductions for retirement income, with states like Florida and Wyoming often praised for tax-friendliness. 

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

Only a small fraction of Americans, roughly 2.5% to 4.7%, have $1 million or more in retirement savings, with the percentage rising slightly to around 3.2% among actual retirees, according to recent Federal Reserve data analyses. A higher percentage, about 9.2%, of those nearing retirement (ages 55-64) have reached this milestone, though the majority of households have significantly less saved. 

How long can you live outside the US before losing your social security?

If you leave the U.S., we will stop your benefits the month after the sixth calendar month in a row that you are outside the country. You can make visits to the United States for specific periods of time, depending on how long you've been outside, to continue receiving your benefits.

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.

How many people have $500,000 in their retirement account?

While exact numbers vary by source and year, recent data suggests around 7-9% of American households have $500,000 or more in retirement savings, though many more have significant savings in the $100k-$500k range, with a large portion of the population having much less, highlighting a big gap between the average (which is higher due to wealthy individuals) and the median (typical) saver. 

What is the #1 retirement city in the US?

There's no single #1, as different lists rank cities based on varying factors, but recent top contenders include Midland, Michigan (U.S. News 2026 for affordability/quality), Scottsdale, Arizona (Niche's top retiree city), and Orlando/Tampa, Florida (WalletHub for tax friendliness/activities), with others like Lancaster, PA, Waycross, GA, and New Bedford, MA also frequently cited for affordability or specific amenities. 

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.

Can I live on $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.

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.

Can you still collect your Social Security if you move out of the United States?

Yes, most U.S. citizens can collect Social Security while living abroad, with payments often direct deposited to U.S. or international bank accounts, but non-citizens or those in certain restricted countries (like Cuba/North Korea) face different rules, and SSI benefits stop after 30 days. You need to inform the Social Security Administration (SSA) of your move and use their online tools to check country-specific rules for your eligibility, as conditions apply, especially for non-citizens or if you're on disability. 

Can I keep my Medicare if I live overseas?

Yes, you can keep Medicare if you move abroad, but it generally won't cover care outside the U.S. (except rare emergencies in Canada/Mexico). It's usually best to keep premium-free Part A (Hospital Insurance) for future U.S. return, but keeping costly Part B (Medical Insurance) while living overseas permanently is often not worth the monthly premiums, though deferring it can lead to late enrollment penalties if you return later. 

What is the 5 year rule for Social Security?

The Social Security "5-year rule" has two main meanings for Disability Insurance (SSDI): first, to qualify, you generally need to have worked and paid Social Security taxes for at least 5 of the last 10 years before becoming disabled (20 credits); second, if you previously received SSDI, you can skip the 5-month waiting period if you become disabled again within 5 years of your last benefit. This rule ensures a recent work history for initial eligibility and helps those with recurring conditions quickly get benefits again. 

What is the average 401k balance for a 65 year old?

For a 65-year-old, the average 401(k) balance is around $299,000, but the more representative median balance is significantly lower, at about $95,000, indicating many high savers pull the average up, with balances varying greatly by individual savings habits, income, and other retirement accounts. 

Can I live off the interest of 1 million dollars?

Yes, you can likely live off the interest of $1 million, but it depends heavily on your annual expenses, location, and investment strategy; using the 4% Rule suggests about $40,000/year (plus inflation adjustments), but a more conservative approach or lower spending might be needed to last, while higher-risk/return investments (like S&P 500) could yield more, like $100,000 annually before taxes, notes SmartAsset.com and Investopedia. 

What is considered wealthy in retirement?

Being "wealthy" in retirement isn't a single number, but generally means having enough assets (often $3 million+) for true financial freedom, security, and lifestyle, beyond just comfort (around $1.2M). Top-tier wealth in retirement means having millions in net worth, with the 95th percentile around $3.2 million and the top 1% exceeding $16.7 million in household net worth, allowing for extensive travel and luxury, notes Nasdaq and AOL.com. 

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 state has the best healthcare for retirees?

There's no single "best" state, as it depends on priorities (cost vs. access vs. outcomes), but Minnesota, Colorado, Hawaii, Massachusetts, and California consistently rank high for retiree healthcare due to strong hospitals, good outcomes, or balanced costs and access, with Midwestern states like North Dakota & South Dakota also scoring well for access and affordability, while Florida offers great infrastructure for its large retiree population. 

What states have 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.