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6 Best Places for the Wealthiest Retirees

By    |   Friday, 04 September 2015 12:15 PM

People who retire wealthy often have similar plans to other retirees when looking for the best places to live. They might like the weather or beauty of a particular location. But even the richest retirees benefit when they consider the living expenses, taxes, and health care facilities of a spot to maintain their wealth in retirement.

Here are six of the best places to retire for the wealthy:

1. New Hampshire appeals to retirees who don’t want to see their savings dwindle from tax burdens. The state has no sales tax, no inheritance tax, no estate tax, and no Social Security tax, according to GoBankingRates. However, property taxes and home prices are high. New Hampshire also provides top-notch health care. Although monthly premiums are higher than average, so are Medicare payouts, Business Insider said.

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2. Idaho has low property and sales taxes, and no Social Security, inheritance and estate taxes, Business Insider said. Local tax rates are low and deposit rates are attractive enough to grow savings substantially. The cost of living is among the best in the country with living expenses that allow continued wealth build-up. Although the health care isn’t the best when compared to other states, the monthly insurance premiums are low.

3. Michigan is among the best places to retire and stretch wealth. Living expenses are low, as are home costs. Insurance premiums are also cheap. Property taxes are high, and Medicare payouts are low, but GoBankingRates pointed out that seniors in the state are ranked among the healthiest.

4. Wealthy retirees might choose France
among the best places to retire. If they don’t mind the high taxes, home prices are low outside of Paris, the BBC noted. A property could cost as low as $91,000 in the Massif Central region. Health care in France is not only inexpensive when compared to other Western countries, but it is also praised as one of the best health care systems in the world.

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5. Hawaii is a top destination for many wealthy retirees because of the warm climate and beauty of the islands. Forbes reported that 18 percent of residents in Honolulu are of retirement age. Surrounding the entertainment and activities in Honolulu and Waikiki Beach are beautiful homes in such places as Kahala and Waialae priced at $1 million and up.

6. Naples along the Gulf of Mexico in Florida is considered one of the best places to retire for wealthy seniors. More than 40 percent of the population is made up of people age 65 and older. Some 10 miles of beachfront and plenty of golf courses make it ideal for affluent retirees who can find homes for an average price of $520,000, according to Forbes.

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Friday, 04 September 2015 12:15 PM
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