New Hampshire is a popular spot for retirees because of the scenic views, variety of recreational activities, and because the taxes for people who are spending their retirement in New Hampshire are cheaper than in many other states.
Here are a few facts about New Hampshire that every senior citizen should be aware of before setting down permanent roots in this state.
1. Cost of Living
The cost of living index in New Hampshire is above the national average. What this means is that it is more expensive to live in New Hampshire compared with other states that fall below the national average. According to
Sperling's Best Places, the cost of living in New Hampshire is 16.6 percent above the national average.
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2. Taxes
Many retirees who choose to take up retirement in New Hampshire do so because of the tax savings living there affords them. Residents of this state do not have to pay income tax. Neither do residents pay an inheritance tax, general sales tax, or estate tax. There is an interest and divident tax of 5 percent; however, this is only imposed on interest and dividend income that is over $2,400 for an individual and twice that amount for those who file jointly,
according to the New Hampshire Department of Revenue.
3. Outdoor Enthusiasts
People who enjoy spending recreational time outdoors fall in love with New Hampshire pretty easily. There are many things for an outdoor enthusiast to take part in year-round such as boating, snowmobiling, camping, hunting, and hiking. One of the biggest draws for people who choose to spend their retirement in New Hampshire is the gorgeous scenery that this state has to offer.
4. Other Facts
According to Livability, Concord and Portsmouth are two of the best places to reside in this "Live Free or Die" state. The population of New Hampshire at the time of the latest census was 1,317,474. The median home price of $245,600 is higher than the national average, but so is the median household income of $64,925.
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