Tags: Retirement | US State Facts | Wyoming | retirement | drawbacks

Drawbacks of Retiring in Wyoming

By    |   Friday, 04 Mar 2016 09:13 PM

Wyoming’s outdoor beauty, light tax burden, and accessible public lands make the Cowboy State an increasingly attractive destination for retirees. Wyoming even ranks as the No. 1 state to retire to, according to Bankrate. But that doesn’t mean there aren’t issues for seniors to consider before choosing retirement in Wyoming. Here are four drawbacks to weigh about retiring in this beautiful rural state.

1. Cost of living

Wyoming’s cost of living is 4.4 percent higher than the nationwide average. About 54 percent of Wyoming’s 97,000 square miles of land is owned by the federal or state government. The remaining private land is owned by ranchers or, in many cases, is costly. An example would be the numerous condominiums in Jackson with asking prices exceeding $1 million each, according to Top Retirements.

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2. No major airports

Wyoming features nine commercial airports, according to Airport-Data.com. But none of its airports is considered a large, medium or even small hub for commercial passenger service. Bringing family and friends to visit in Wyoming requires either driving, paying for expensive small commercial flights with multiple connections or flying into a neighboring state’s hub, such as Denver International Airport, and then either taking a costly smaller commercial flight to Jackson Hole, Cheyenne or Casper, or renting a car and driving.

3. Colder climate

The majority of seniors choose retirement locales featuring warm to mild weather year-round. In this category, Florida, Arizona, California, and other warm-weather states have Wyoming beat. Wyoming is warm during the summer but much colder in the winter. Average temperatures dip down to as low as 9 degrees in January, according to Sperling’s Best Places, and average yearly snowfall accumulation is 54 inches, more than double the national average.

4. Lack of racial diversity

Wyoming is one of the least multicultural states in America. In Wyoming schools, an accurate barometer for a state’s racial and ethnic blend of residents, about 80 percent of students are white, according to Sperling’s Best Places. Roughly 12 percent are Hispanic, 3.54 percent are Native American or Native Alaskan, and 1.12 percent are black.

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Wyoming’s outdoor beauty, light tax burden, and accessible public lands make the Cowboy State an increasingly attractive destination for retirees. But that doesn’t mean there aren’t drawbacks for seniors to consider before choosing retirement in Wyoming.
Wyoming, retirement, drawbacks
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2016-13-04
Friday, 04 Mar 2016 09:13 PM
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