So you want to retire somewhere on the Eastern seaboard—but you're concerned about the financial aspects of the move. Maybe it's taxes that worry you, or the high cost (or the availability) of health care, or just the overall cost of living—after all, some of those Eastern states can be pretty pricey, which can pose a challenge to a retiree's cash flow. You'll be happy to know, then, that Kiplinger has
evaluated all 50 states with an eye toward a retiree's needs—and here we offer the seven states it says are the best in the East for those seeking out a retirement home. Using some of its own data—such as its
Retiree Tax Map—and that gleaned from others, such as
Sperling's Best Places for information on cost of living, Kiplinger also ventured considerably farther afield in its quest to identify the best retirement states. U.S. Census data on household incomes and poverty rates for all 50 states played into its evaluation, as did the question of how healthy each state's residents already are, with answers from the
United Health Foundation providing some guidance on how available and how good hospital and nursing home care are.
HealthView Services provided information on how much health care in each state might cost you in retirement, including Medicare, supplemental insurance, dental insurance and out-of-pocket costs. That way you'll have an idea what a 65-year-old couple might expect to pay to stay in good enough health to enjoy their retirement. The
Mercatus Center at George Mason University provided data on each state's fiscal health, lest you move to a failing state and find that its woes become your own. With all this information to draw on, you might find a state that's just to your liking—or you might instead decide that you'll have to adjust your expectations in retirement—either on location or on lifestyle. Oh, and one thing you'll notice about these states: their rank in this list doesn't match their rank in all 50 states—for instance, South Carolina is seventh on this list, but 12th in the country. Lots of otherwise very admirable states rank pretty low on the desirable list, not just nationwide but in their region of the country. Sometimes it's due to taxes, sometimes to poverty or health care deficiencies. Whichever you decide, here are the seven states Kiplinger says are best for retirement in the East.
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