Choosing to retire is a big step, and everyone, no matter who they are, should do their homework before making any rash choices. Whether or not to relocate is a major consideration for retirees. Retirees often relocate for a variety of reasons, including a change of scenery, a cheaper cost of living, or just to enjoy better weather. Think about all the great things that can happen to you in Texas if you decide to retire there. Why not spend your golden years in the Lone Star State? Here are the top benefits of living in Texas.
Tax-Friendly for Retirees
The tax structure in Texas is a major draw for people looking to relocate there. The state does not impose any form of income tax, making it unusual among American states. Income from sources like a 401(k), an individual retirement account (IRA), a pension, or even a part-time job will not be taxed in this scenario. There is a maximum of 8.25% sales tax, and essentials like food and medicine are exempt. And while the state does have higher-than-average property taxes, its lower-than-average house prices and sizable homestead exemptions more than make up for it.
Lower Cost of Living
An individual’s day-to-day cost of living is significantly more essential than their annual tax bill when developing a retirement plan. If you are concerned about this, know that housing and grocery prices in Texas are even lower than the national average, while the state’s overall cost of living is around 10% lower than normal. Search online to locate retirement communities consisting of people exactly like you, whether you are searching for independent living or any other care communities, and your discretionary income will make it easier to become a part of those communities and participate in their activities.
Fairs are Part of the Culture
The saying goes that you have not lived until you have visited your local county fair. The atmosphere alone is worth the trip, even if all you do is window shop and pick up a couple of churros. The State Fair of Texas takes it one step further, drawing in hundreds of thousands of visitors every year, including tourists from all over the world and Texans who are justifiably proud of their home state.
Musical Acts are Too
You might picture banjos and drawls when you think of Texas music. Of course, there is enough of it in Texas’ musical legacy, but the state has also given us some of the most beloved musicians in other American musical traditions. These three legendary musicians are simply the tip of the iceberg of the artistic talent that has come out of this legendary state.
Choose from Various Cultures
Unique experiences await you in every corner of Texas. There is a lot to see and do across the state of Texas, which spans over 800 miles from edge to edge in places, and the diverse cultural traditions of its many cities make for exciting excursions in any direction. It does not matter if you are looking for action and adventure or some laid-back relaxation, Texas has it all.