Tags: Retirement | retirement | Illinois | benefits

Benefits of Retiring in Illinois


By    |   Monday, 01 Jun 2015 09:18 AM

If you're planning for retirement in Illinois, take heart. While the state has a reputation for being a challenging place to spend your golden years, the fact is that there are plenty of benefits to senior life in Illinois. Read on to learn more about four key benefits of retiring in the Prairie State.
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  1. Excellent Health Care
 - Illinois has more doctors per capita than average for other places in the United States, meaning you'll never have to travel far for primary, specialty, or emergent care. It's not only quantity, but also quality – the state has many highly rated hospitals that offer world-class care, such as Northwestern Memorial Hospital in Chicago.

  2. New State-run Savings Plan - Legislation recently passed in Illinois will introduce a new tax-advantaged retirement savings plan for state residents who do not have access to such a plan through their employers. As the first state to introduce this model, retirement in Illinois is currently at the forefront of the nation in helping their workers become fiscally sound in their senior years. The plan, which is set to debut in 2017, will enable workers to enroll in a Roth individual retirement account.
  3. How Soon Can You Retire? Free Test Shows You When — Click Here

  4. Lower-than-average Cost of Living
 - Based on the cost of living index devised by the U.S. Census Bureau, the prices to live in Illinois are lower than the national average on most measures. The overall cost of living in the state is just 96 percent of the national average, with groceries at 97 percent and housing at just 87 percent. While the low cost of housing is balanced by the higher than average property tax, it's still possible to get a bargain if you're planning on retirement in Illinois.

  5. Historic Small-town Living - 
If you're looking for a home with much of the original Main Street charm still intact, there are plenty of options within the state that won't break your budget. Galena, located near the Mississippi River, boasts plenty of outdoor activities with amenities nearby. Peoria is known for its arts and culture scene, while Alton provides scenic beauty, mountains, and waterfront living just 30 miles outside of St. Louis. If you prefer to live in a metropolitan area, it doesn't get more urban than Chicago.
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If you're planning for retirement in Illinois, take heart. While the state has a reputation for being a challenging place to spend your golden years, the fact is that there are plenty of benefits to senior life in Illinois.
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2015-18-01
Monday, 01 Jun 2015 09:18 AM
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