As of 2015, the top three states for retirement are West Virginia at number three, Florida at number two and Delaware at number one, according to Kiplinger. These states have features that are important to seniors, such as affordability, low crime rates, large senior populations and low tax rates.Continue Reading
West Virginia has a cost of living that is 2 percent lower than the national average, and the average income for seniors is $37,788. Low hospital costs and an excellent health care system also benefit seniors. The retiree tax picture in West Virginia is friendly, states Kiplinger. Seniors make up 16.5 percent of the state's population.
The main appeal of Florida to seniors is there is no state income tax, inheritance tax or estate tax, reports Kiplinger. In addition, Florida does not tax retirement income. Seniors account for 17.8 percent of the state's population.
Delaware's top ranking for retirees is mainly due to the fact taxes are low. There is no sales tax, income taxes are modest, and Social Security benefits are exempt from taxation, explains Kiplinger. The quality of health care is very good, and Delaware is relatively close to the cultural centers of New York City and Washington. Seniors represent 14.9 percent of the state's population.Learn more about Financial Planning