Tags: Retirement | retirement | Arkansas | drawbacks

Drawbacks of Retiring in Arkansas

By    |   Tuesday, 02 Jun 2015 06:49 PM

Arkansas routinely ranks near the top of lists when it comes to retirement destinations, mostly due to the large number of retirement communities, the amazing landscape that includes fishing, hunting, boating, and more, as well as the low cost of homes in the state. However, while those are all great perks for those seeking retirement in Arkansas, there are drawbacks to choosing the Natural State as the home for your golden years. Here is a look at some of the major drawbacks to choosing retirement in Arkansas.

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  1. Crime Rate - As of the last count in 2013, the crime rate in Arkansas ranked as the 44th worst state in the United States. In 2013, there were 159 murders, 993 rapes, 2,258 robberies, 9,781 assaults, 30,485 burglaries, and 70,450 thefts. There were also 5,678 cars stolen in the year. If there is one positive, the rate of hate crimes is lower than the United States average. According to Home Security Shield, the most dangerous cities in Arkansas are West Memphis, Helena-West Helena, Osceola, Little Rock, and Texarkana.
  2. Health Care System - Arkansas is ranked in the bottom quarter of states when it comes to health care. According to reports, the ethnic and racial minorities faced the widest disparities compared to the national average in southern states like Arkansas, Georgia, Indiana, Mississippi, and North Carolina. There are also reportedly fewer insured residents and less resources for quality health care. While there are a large number of university hospitals in Arkansas, the actual preventative maintenance is what scores so low on the rankings.
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  4. Weather - While the quality of the outdoor life is one of the big draws when it comes to retirement in Arkansas, the outdoors also provides one of the biggest drawbacks to heading to the "Natural State" when you retire. While weather disasters exist everywhere in one form or another, Arkansas is a hotbed for tornadoes. Weather.com ranked the worst places to own a home based on weather conditions and listed Saline County, where 20 different tornadoes destroyed $63 million worth of property during an 18-year period, as the 19th worst county to own a home. Polk County has suffered through numerous tornadoes over the years that have destroyed property and killed people, but also deals with about 50 fires a year during bad conditions.
  5. Taxes - While the cost of living is low, and the housing costs are way below national average, retirement in Arkansas really takes a bite out of your wallet when it comes to taxes. Arkansas is one of the states that does not have exemptions for federal, private and state retirement pensions. They rank 40th in the nation when it comes to the worst states for taxpayers. The average state and local combined taxes paid is $6,451.
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Arkansas routinely ranks near the top of lists when it comes to retirement destinations, mostly due to the large number of retirement communities, the amazing landscape that includes fishing, hunting, boating, and more, as well as the low cost of homes in the state.
retirement, Arkansas, drawbacks
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2015-49-02
Tuesday, 02 Jun 2015 06:49 PM
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