This U.S. State Is One of the Best Places to Retire for Low Crime, Taxes, and an Affordable Cost of Living
Plus, it is a beloved mountain destination with excellent outdoor recreation.
With its famously picturesque mountain ranges and landscapes, home to some of the country’s best vacation spots, unspoiled beauty, and charming small towns, Wyoming is a nature lover’s paradise and a traveler’s dream destination. But as it turns out, the Equality State is also a great place to spend your golden years, especially if you consider senior safety, community engagement, and taxes.
According to a recent report by WalletHub, Wyoming is the fifth best place to retire after Florida, Colorado, Virginia, and Delaware. The company pointed out that this is largely due to the protections it has in place to keep its senior residents safe.
“Wyoming has very good protections against elder abuse compared to most states, as well as one of the lowest violent crime rates in the country and little crime overall,” WalletHub noted.
Wyoming State Law includes statutes that require residents to report suspected abuses, exploitation, or neglect of vulnerable populations, including elders, while the state’s Department of Family Services is tasked with the protection of the elderly and disabled. According to US News, the state has the eighth-lowest violent crime rate in the country and ranks 10th in public safety.
Seniors in Wyoming also enjoy many volunteering opportunities, and they are certainly up to the task as retirees there, who make up almost a fifth of the state’s population, score one of the highest senior volunteering rates, according to WalletHub. As a consequence, as the website pointed out, the risk of social isolation for retirees is much lower.
And since cost of living is often a number one priority when deciding where to settle post-retirement, this is also a category where the state excels. Not only is Social Security income not taxed in the state, but it is also one of only nine states with no income tax. Estate or inheritance taxes are also non-existent, and seniors can keep all their retirement incomes tax-free.
Lastly, Wyoming continues to be one of the most affordable places to live, where the cost of living is almost eight percent lower than the national average, or $53,886, according to a recent report. The same survey estimated that you’ll also need about $793,731 in savings before you can retire there.
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