Tags: Retirement | retirement in massachusetts | myths

Myths About Retiring in Massachusetts

By    |   Monday, 11 Jan 2016 07:55 PM

As one of the earliest places to be settled in America, ideas about retirement in Massachusetts are riddled with myths because of the longevity of Massachusetts' reputation as one of the heaviest taxing states.

Massachusetts has reformed itself somewhat as being one of the heaviest taxing states and now comes in as 23rd in the nation, according to Top Retirements. Because of this change, a retirement in Massachusetts has many myths to overcome regarding its affordability, taxation laws, and other myths that affect retirees.

1. "Taxachusetts"

"'Taxachusetts' is a misnomer, at least for now," The Boston Globe reported in 2014.

Rather, the Bay State is right in the middle, neither high nor low, imposing less of a burden on its citizens than certain other states filled with anti-tax braggadocio (ahem, that would be you, New Hampshire)," wrote Globe columnist Tom Keane.

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Despite the fact of coming in lower than it used to in terms of being an expensive place due to its taxes, Massachusetts still has to overcome this myth and likely will for some time thanks to its location and wealthy residents.

2. Nantucket and Martha's Vineyard Only Viable Retirement Options

A lot of people immediately fantasize of Nantucket or Martha's Vineyard when it comes to where they should spend their retire in Massachusetts, but the truth is, there are plenty of great cities to put down retirement roots in the state.

In fact, plenty of other great coastal and inland cities are easy to get to and have great amenities for seniors, according to MarketWatch.

"When the nation's super-rich retire, posh Massachusetts enclaves like Nantucket and Martha's Vineyard beckon … but for retirees not sitting on golden nest eggs, experts say Massachusetts' more reasonably priced areas may be every bit as much a draw. These range from the small Atlantic beach towns in the East, the Berkshire and Taconic mountain towns in the west, and the fertile farmland in between," wrote MarketWatch reporter Catey Hill.

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As one of the earliest places to be settled in America, ideas about retirement in Massachusetts are riddled with myths
retirement in massachusetts, myths
Monday, 11 Jan 2016 07:55 PM
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