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5 Benefits of Retiring in Delaware

By    |   Thursday, 03 Mar 2016 04:40 PM

Delaware is an often overlooked destination, perhaps because it's overshadowed by its larger neighbors. But future retirees looking for a retirement spot elsewhere in the United States might want to consider the First State.

Delaware is a tax-friendly and affordable please for retirement in the U.S. In fact, it tops the Kiplinger's Best States for Retirement 2015 list.

There are several reasons why retirees might want to consider living in Delaware. Let’s take a look at the top five benefits.

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1. Tax-Friendly

The state already has a large population over the age of 65 who have discovered its affordability. Delaware doesn't have a sales tax and its "income tax rates are modest," according to Kiplinger.

"Social Security benefits are exempt, and taxpayers over 60 can exclude $12,500 of investment and qualified pension income from state income taxes. In addition, homeowners in Delaware age 65 and older may be eligible for a credit equal to half of school property taxes, up to $500."

2. Accessiblity

Delaware is centrally located in the northeastern part of the country, providing accessibility for retirees. The commute to Philadelphia is an hour’s drive or less from most cities in Delaware, and just a couple of hours from Baltimore, New York City, and Washington, D.C.

Delaware also has about 26 miles of Atlantic Ocean coastline as well as the coastline of Delaware Bay and inland bay shoreline. Retirees in Delaware may purchase beach houses in coastal communities such as Bethany, Dewey, and Rehoboth, or choose a location like Milford. It’s within an hour’s drive of the beaches and offers quality healthcare.

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Wilmington, the state’s largest city, has Amtrak service to other big East Coast destinations, and the major airport is located in New Castle. It’s considered a regional airport for Philadelphia.

There are major regional hospitals nearby such as the Johns Hopkins Hospital, in Baltimore, Penn and Thomas Jefferson University Hospitals in Philadelphia, the National Institutes of Health in Washington D.C., and Delaware's own Christiana Care Hospital in Newark.

3. Personal Safety

The state is a safe option for retirement, according to Kiplinger, which also looked at factors such as the state’s crime rate and economic health for its annual report.

4. Veterans' Benefits

A variety of benefits are provided to retirees Delaware who are veterans, including state educational benefits and employment support. It also exempts 50 percent of military retirement pay.

5. Activities

There are plenty of cultural and sporting activities for retirees in Delaware, including historic sites in New Castle for history buffs and sporting events.

Newark is home to the University of Delaware, and the community offers continuing education opportunities, theater shows, and college sports.

Dover is home to Delaware State University and Wesley to provide athletic and cultural activities as well as the Dover International Speedway, or the Monster Mile as it's known to NASCAR fans.

Frawley Stadium, home of the minor league baseball team Blue Rocks, and the Grand Opera House are popular venues in Wilmington.

There are a number of golf courses, casinos, and horse tracks around the state. 

This small state enjoys the four seasons. For the more active, southern Delaware offers hiking, biking, fishing and boating.

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Delaware is an often overlooked destination, perhaps because it's overshadowed by its larger neighbors. But future retirees looking for a retirement spot elsewhere in the United States might want to consider the First State. Let’s take a look at the top five benefits.
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Thursday, 03 Mar 2016 04:40 PM
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