You’ve worked hard. Maybe you raised a family, built a career, or ran your own business. Now it’s time for the next big decision: Where to retire?
Sure, sunshine and saving money matters, but there’s more to the picture. It’s about lifestyle and having access to the things you love. This could mean hiking trails, theater tickets, or a low-maintenance home where you can finally slow down a bit.
To help you narrow it down, here are five standout places that hit the sweet spot: affordable, welcoming, and full of possibilities.
1. Florida
Sunshine, savings, and no state income tax
Let’s get the obvious one out of the way. Florida has been a retirement favorite for decades and it’s not slowing down. There’s a good reason why it consistently ranks #1.
For starters, Florida doesn’t tax retirement income. That means no state income tax on your Social Security, pensions, or withdrawals from retirement accounts. It also doesn’t have an estate or inheritance tax, which is a big plus for long-term planning.
But the perks go beyond taxes. Florida offers year-round sunshine, more beaches than you’ll ever be able to visit, and plenty of senior-friendly services funded through the Older Americans Act. The Act has expanded a lot over the years. It now covers meals at home or in group settings, rides to appointments, caregiver support, elder rights, legal help, job training, and more.
Before you decide: The cost of living can be higher in some popular cities, and insurance can get expensive (especially in flood zones). Still, if you love the sun and want to make the most of your golden years, it’s hard to beat the Sunshine State.
2. Minnesota
Beautiful summers, world-class healthcare, and friendly communities
Minnesota might surprise you, especially if you associate retirement with palm trees. Hear us out, the Land of 10,000 Lakes has a lot going for it.
Sure, the winters are no joke but the summers? Totally worth it! The twin cities, Minneapolis and St. Paul also offer a fantastic mix of outdoor beauty, cultural attractions, and a diverse, welcoming community. You’ll find tons of parks, scenic lakes, and opportunities to stay active year-round.
Healthcare is a huge draw here, with highly rated systems like the Mayo Clinic and the University of Minnesota leading the way. That focus on well-being extends beyond hospitals. Minnesota also ranks in the top 10 for elder abuse protections. The state has also made meaningful progress in public safety. In recent years, violent crime rates have been lower than the 50-state average and have dropped nearly 7 percent year over year, while property crime has declined even more sharply by 13 percent.
Before you decide: If staying healthy, engaged, and connected is high on your list and you don’t mind a snow shovel, Minnesota might be your perfect fit.
3. Colorado
A retiree’s playground with fresh air and active living
If your idea of retirement includes staying active and exploring the outdoors, Colorado checks a lot of boxes. With its endless hiking trails, national parks, and scenic views, this is a place where retirement isn’t about pressing pause. It’s about shifting into a new kind of momentum.
Colorado ranks among the top states for seniors in good health and has one of the highest rates of physical activity among older adults. There’s also no estate or inheritance tax, and property tax rates are generally reasonable.
The cities are just as appealing. From Boulder’s mountain charm to Denver’s cultural buzz, you’ve got options whether you prefer nature or nightlife (or both). Plus, the healthcare infrastructure is solid, with Colorado being ranked the second-best state in the nation for senior health and wellness in 2024.
Before you decide: Housing isn’t cheap. The average home price hovers above $500,000. Despite this, if you’re already a homeowner and looking to downsize or cash out of a more expensive market, the lifestyle Colorado offers could be worth every penny.
