Retirement is just around the corner and you’re considering a move. But where? Which state will treat you the best over the years, financially and otherwise? A recent Bankrate.com survey found that Iowa is one of the top choices for senior living. In fact, the state came in second only to Nebraska. The study measured those things which seniors hold dearly — proximity to family and friends, affordable cost of living, access to excellent health care and hospitals, good weather and a low crime rate. Here’s how Iowa stacked up:
- Low taxes – Iowa is especially tax friendly. Social Security income isn’t taxed, and withdrawals from retirement accounts are only partially taxed, as is public and private pension income. When it comes to wages, they’re taxed at normal rates, while the marginal state tax rate is 5.63%. Keep in mind, however, that Iowa does have an inheritance tax with rates ranging from 5% to 15%.
- Low cost of living – Iowa is easy on your monthly budget. The state boasts a cost of living that’s nearly 11 percent below the national average. It has the second-lowest unemployment rate, and the median home cost is around $115,000.
- Safe space – You can rest easy in Iowa. On a new list of the“Safest States in America,” Iowa came in at #18. Analysts looked at 37 key safety indicators and grouped them into five categories. Iowa received an overall score of 54.03, and came in 5th for “Personal and Residential Safety.”
- Great weather – Iowa has four seasons, which presents seniors with a variety of activities and opportunities throughout the year, from playing golf on a warm summer day to cozying up by the fire with a cup of tea as the snow falls outdoors.
- Lots to do – Hike, bike, fish, walk — Iowa’s the place to do it all, especially with four beautiful seasons and stunning rolling hills. Did you know there are over a thousand lakes throughout Iowa? Get out your fishing reel and enjoy!
Senior living just doesn’t get any better than Iowa — especially in planned communities like Summit Pointe Senior Living. Here, seniors can age in place comfortably and affordably throughout every phase of retirement. As one of the only established Marion senior living communities that offers transitioning from Independent to Assisted Living without having to move rooms or buildings, Summit Pointe helps ensure retirement in Iowa is truly golden.