Nearing retirement? Here is where you should build your retirement abode. | Financial Buzz

Nearing retirement? Here is where you should build your retirement abode

If you are nearing retirement time, then it is time for you to start thinking about where you want to live once you don’t have to worry about commuting to and from work every day; that is, if you haven’t done this already. Here are some interesting facts that you should be looking at.

South Dakota takes over top place

Oregon has been topping the list of most favored places for retirees for three years now but its luck seems to have run out because South Dakota takes the first place this year in a survey conducted by United Van Lines called the Annual National Movers Study. With almost 70% of moves recorded in South Dakota being incoming ones, it is easy to see that this is a really popular destination right now. With the cost of living that is lower than the national average, decent climate and low crime rates, South Dakota earns its spot as a No 1 destination for retirees. Add to this the fact that it offers great access to prime healthcare facilities and you pretty much seal the deal right there. Wealthy retirees love the place, in particular, because of the favorable tax structure, namely the no inheritance tax policy that prevails here. The relatively laid back life style is another big plus for those who want to just take life easy after a lifetime of working round-the-clock.

Head West for retirement

If South Dakota is not your choice for some reason, you still cannot go wrong with Oregon. IN fact, you could take your pick from the Western states of Washington, Idaho, Arizona and Nevada, all of which seem to be incredibly popular retirement home destinations. 19% of movers into Oregon said that they were coming in to live in the state after retirement and that’s an impressive percentage indeed.

And down South, we have…

If you have a string preference for the south, you may want to check out Texas, Florida and California. Of course, the sunny weather has a lot to do with the preference for these places as prime retirement hubs but the proximity to great health care and entrainment centers is also a good reason why these places stand out as THE choice for retirees. Senior facilities and low crime rate are other factors that give these locations an edge over others.